Ethereum co-founder Joseph Lubin was recently featured in a podcast hosted by Tom Shaughnessy, co-founder of the New York-based crypto research and consulting firm Delphi Digital, where they discussed the goals of blockchain, Ethereum’s competition, its future, and much more.
During the podcast, Lubin was asked about Ethereum’s competition, which includes other blockchain protocols with smart contract platforms capable of developing decentralized applications (dapps). Two such projects that are well-known in the crypto space are Tron (TRX) and EOS (EOS).
Ethereum’s Competition Isn’t Even Close
Regarding these two competitor projects, Lubin clearly doesn’t think very highly of them, writing them off as projects that “fake it till they make it.”
“Good events anywhere in our ecosystem lifts all boats, and some projects are certainly intending to be competitive with Ethereum. Some projects are focusing on marketing to be competitive with Ethereum, Tron and EOS in that basket, and both of them have kind of taken an approach of ‘raise a bunch of money and fake it till you make it’ basically, and we’ll see how that goes.”
Lubin’s comments bashing these projects come after the other co-founder of Ethereum, Vitalik Buterin, called some competing blockchain-based projects a “centralized pile of trash” back in January at the Blockchain Connect conference.
There Is Good Competition Too
Disregarding the aforementioned Ethereum competitors, Lubin said that the crypto world does have some good projects in the “collaborative ecosystem” besides Ethereum. He explained that while Ethereum is competing with many of these good projects, they have worked closely with them and maintain friendly relationships.
Adding to this, Lubin touched on the open nature of cryptocurrency’s blockchain technology, leading to numerous collaborations between competing companies:
“The amazing thing about this technological moment in time, or this particular technology, is that it is all done out in the open, we can all steal liberally from one another.”
Regarding the open nature of cryptocurrencies, Lubin stressed that it wouldn’t be possible to build one such platform like Ethereum and an entire ecosystem of successful projects.
Adding more, he said:
“In the context of this openness, this collaboration and communication, Ethereum has, in my opinion, the best technology – by a lot, the best technologists – and so many more of them, and orders of magnitude, bigger ecosystem, and I feel like the project is moving faster.”
Do you think Ethereum is way ahead of their competition? Which crypto project is Ethereum’s biggest and best competitor? Let us know what you think in the comment section below.