Ethereum co-founder Joseph Lubin said the blockchain network has entered phase two after launching the most complicated app on its protocol.

Speaking during the RISE conference in Hong Kong, Lubin said that in the near future the Ethereum blockchain protocol’s main chain will be used as a “trust system” while the phase two networks will mostly handle the heavy load of processing large amounts of data, CCN reported.

For phase 2, open-source developers have been focusing on developing Plasma and Sharding, which together could increase Ethereum’s capacity to one million transactions per second. Read more here.

ThirtyK Staff
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