{"id":58996,"date":"2022-03-21T11:54:08","date_gmt":"2022-03-21T09:54:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58996"},"modified":"2025-09-04T19:38:40","modified_gmt":"2025-09-04T16:38:40","slug":"joseph-lubin-we-are-still-in-the-early-stages-of-the-web-3-0-transition","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/joseph-lubin-we-are-still-in-the-early-stages-of-the-web-3-0-transition\/","title":{"rendered":"Joseph Lubin: We are still in the early stages of the Web 3.0 transition"},"content":{"rendered":"<p>Web 3.0 will challenge business models worldwide, redistributing profits and authority to communities and content creators. Lubin, founder of ConsenSys and one of Ethereum&#8217;s co-founders, told the <a href=\"https:\/\/www.afr.com\/technology\/it-s-early-days-in-a-paradigm-shift-ethereum-co-founder-20220321-p5a6hy\">Financial Review<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The paradigm shift has only just begun. We can organise governance and finance on democratic principles just as it happened with the Internet<\/em>, the expert explained.<\/p>\n<\/blockquote>\n<p>At Blockchain Australia conference, Lubin noted that authorities and regulators in various countries do not view Ethereum with enthusiasm. He explained this as a misunderstanding of its nature or \u201ctheir own plans,\u201d although they will ultimately have to \u201caccept\u201d it.<\/p>\n<p>Lubin reminded of the upcoming transition of Ethereum to <a href=\"https:\/\/u1f987.com\/en\/news\/proof-of-stake-how-it-works-and-why-it-is-so-popular\">Proof-of-Stake<\/a>, which will increase throughput and deprive critics of the argument about high energy consumption. The transition to a different consensus algorithm will strengthen its position as a key part of the emerging decentralised financial infrastructure, he added.<\/p>\n<p>On 14 March, developers <a href=\"https:\/\/ blog.ethereum.org\/2022\/03\/14\/kiln-merge-testnet\/\">\u0437\u0430\u043f\u0443\u0441\u0442\u0438\u043b\u0438<\/a> testnet Kiln, which is expected to be the final step before the mainnet&#8217;s transition to PoS.<\/p>\n<p>In December 2021, to test the consequences of merging blockchains on the Proof-of-Work and Proof-of-Stake consensus algorithms <a href=\"https:\/\/u1f987.com\/en\/news\/kintsugi-testnet-launch-to-test-the-ethereum-2-0-transition\">open access<\/a> to the Kintsugi testnet.<\/p>\n<p>Earlier, Joseph Lubin forecast the launch of the network&#8217;s second iteration in Q2 or Q3 2022.<\/p>\n<p>The amount of funds locked in the Ethereum 2.0 deposit contract <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-2-0-deposit-contract-surpasses-10-million-eth\">exceeded 10 million ETH<\/a>.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Web 3.0 will challenge business models worldwide, redistributing profits and authority to communities and content creators. Lubin, founder of ConsenSys and one of Ethereum&#8217;s co-founders, told the Financial Review.<\/p>\n","protected":false},"author":1,"featured_media":58997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1548,1110],"class_list":["post-58996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-joseph-lubin","tag-web-3-0"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=58996"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58996\/revisions"}],"predecessor-version":[{"id":58998,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/58996\/revisions\/58998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/58997"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=58996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=58996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=58996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}