Vitalik Buterin and Joseph Lubin reveal plans to potentially work with Facebook’s Libra

ConsenSys CEO Lubin said that Libra could be beneficial for Ethereum.
While Ethereum 2.0 was discussed, no release date was officially revealed.

Ethereum founders Joseph Lubin and Vitalik Buterin commented on the development of an update for their blockchain system. The discussion took place at the Ethereal Summit in Tel Aviv. The executives reported that Ethereum 2.0 will be interoperable with applications built on the original blockchain. However, they did not give any information on when the network will be released.

Buterin said:

“[Ethereum 2.0] is an updated version of the same vision. It’s a sandbox where people can try things and see what works. The thing that has changed are the tools we use.”

ConsenSys CEO Lubin spoke about potentially working with Facebook’s Libra:

“There’s definitely been some talks. There’s the possibility of interoperability with Ethereum if there’s a viable wallet connection. But I don’t see [Libra] being a viable competitor to Ethereum as a decentralized [financial system]. Actually, it could be an excellent onboarding mechanism for us.”

Buterin, though remained silent at the beginning, was affirmative about Facebook’s cryptocurrency, suggesting that facebook should work with Facebook. Buterin said:

“There’s definitely people looking at making a Libra Litecoin that runs on the Ethereum blockchain. I think we should extend an open hand to systems that are more decentralized than we would like.”

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.