Ethereum Co-Founder Joseph Lubin: Proof of Stake Within Year, Infinite Scalability on Horizon

In the face of uncertainty, Ethereum Co-Founder Joseph Lubin reassures the community that proof of stake is near, and that infinite scalability is on the horizon.

The security and scalability of Ethereum is under stress.

ASICs challenge the chain's decentralization, CryptoKitties are testing its throughput, and other projects are intent on usurping Ethereum's position.

In the April core developer meeting, Vitalik and others discussed expediting the release of Casper, the foundation of Ethereum's proof of stake protocol, to combat the threat of ASICs.

Ethereum Co-Founder Joseph Lubin provides some clarity into the launch date.

"In the next year we are going to replace proof of work with the much more efficient proof of stake algorithm."

The change to proof of stake would decentralize network and render Ethereum ASICs obsolete.

"Several different Scalability mechanisms such as state channels, Sharding, and Plasma will allow Ethereum to scale infinitely in the next few years."

The confidence of the core developer team is reassuring in a time where dozens of other projects seek to outpace Ethereum.

If Ethereum wishes to maintain its position as the leader of "Web 3.0" then hitting these key development milestones will prove critical.