One of the creators of the top smart contact platform Ethereum (ETH) says the Web3 explosion will be exponentially larger than that of the dot-com bubble of the late 90s.
In a new thread on the social media platform X, Joseph Lubin – who now serves as the chief executive of blockchain technology firm ConsenSys – says the Web3 boom is already underway, and he believes it will make a positive impact to the world.
“The Web3 boom is on and it will be orders of magnitude larger than the dot-com boom. It will be a rough and wild ride, but it will transform the world for the better via progressive rigorous decentralization and censorship resistance.”
Lubin goes on to note that he’s extremely bullish on ETH because it’s attractive to large firms due to its large market cap, maturity, developer base and roadmap.
The Ethereum co-founder also says blockchains are the next natural step in technological evolution, and most traditional businesses will eventually migrate to digital ledgers in the coming years.
“Just as every company needed to migrate to the web in the 90s and 2000s, the gold rush to Web3 is about to massively accelerate. Web3 – the re-decentralized web – is the natural evolution of the open protocol and open spec-based internet and web. Most traditional businesses will start to migrate to Web3 over the next few years.”
Lubin subsequently says that President Donald Trump’s crypto-related actions have been “smart.”
“Trump family-related activities are across a few ecosystems, as appropriate. They will build a large, serious DeFi (decentralized finance) business on Ethereum.
They make smart moves after weighing options. There is more high-value activity that should belong on Ethereum than other networks. And I believe the admin itself will be balanced and prudent in the ways it promotes and uses the different crypto technologies.”
Ethereum is trading for $3,419 at time of writing.
Generated Image: Midjourney
