Ethereum co-founder Joseph Lubin says ETH could become an important store of value during economic instability, pointing to features beyond those of Bitcoin and gold. His comments follow Vitalik Buterin's call to view ETH primarily as a store of value. Ethereum traded near $2,050 on November 11.
Joseph Lubin, an Ethereum co-founder, argued in a Wednesday post on X that ETH could become an important store of value during a period of rising inflation and economic uncertainty, warning that national currencies and other assets could lose purchasing power. He compared Ethereum with Bitcoin and gold, saying ETH offers additional features through decentralized finance, stablecoins and smart contracts.
Lubin says ETH goes further than gold and Bitcoin
According to Lubin: "Gold and BTC are high-powered money and excellent stores of value. ETH goes further" The Consensys CEO pointed to Ethereum's resistance to censorship, its use as collateral and its programmable transactions.
Unlike Bitcoin, Ethereum also supports smart contracts that let developers build applications for lending, borrowing, trading and payments. Lubin also described ETH as disinflationary and capable of becoming deflationary during periods of heavy network activity.
Buterin also backs ETH as a store of value
Lubin's remarks come days after Vitalik Buterin questioned whether Ethereum's long-term valuation should depend heavily on fee burning. On November 8, Buterin said Ethereum should concentrate on decentralization, security and resistance to external control.
Buterin maintained that Ethereum should keep EIP-1559 even if the network keeps burning fewer tokens than it issues. Lubin took a similar position, stressing potential demand for ETH as collateral in lending markets and other financial applications.
Lubin predicts quantum-safe ETH by 2028
Lubin also gave a timeline for protecting Ethereum against quantum computing threats. He wrote that ETH will be quantum-safe by the end of 2027, or partway through 2028 at the latest.
The Ethereum Foundation's published roadmap differs. It targets quantum resistance across the execution, consensus and data layers by December 2029.
Ether trades near $2,050
Ethereum was trading around $2,050 on November 11, down approximately 3% over 24 hours. The cryptocurrency had traded between approximately $2,000 and $2,100 during the period, with daily trading volume reaching $14.22 billion.
Competition for stablecoin activity also continues. During the third quarter, TRON overtook Ethereum in average USDT supply, holding $90.75 billion against Ethereum's $87.73 billion, according to Token Terminal.
Source: crypto.news
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