Ethereum co-founder Joseph Lubin believes that the second most popular blockchain network will become significantly more scalable in the next 18 to 24 months.
In a May 11 interview with industry website Cointelegraph, Lubin said that the release of Ethereum 2.0, also known as Serenity, would make Ethereum about a 1,000 times more scalable.
Ethereum’s Serenity upgrade is expected to bring many changes to the network in order to make it much faster and better. The system upgrade is poised to create a new chain introducing features, such as sharding and Layer 2 solutions similar to Bitcoin’s Lightning Network, as well as switch to Proof of Stake algorithm. On Saturday, Lubin, who is currently chief executive officer of blockchain software technology company ConsenSys, said that development was divided into four phases, with eight groups already developing clients for the new chain. He added:
“In a small number of months, we should have a fully operational testnet and possibly, by the end of this year we’ll have…