Following the launch of the most complex DApp, Ethereum enters Phase 2
Ethereum co-founder Joseph Lubin, at the RISE conference held in Hong Kong which is the largest tech conference in the whole of Asia attended by 15,000 attendees, said that, “The Ethereum blockchain has entered phase two of its development, following the launch of the most complicated app on its protocol.”
Lubin also emphasized at the panel discussion that in the near future the Ethereum blockchain protocol’s main chain shall be used as a trust system and that the layer-two networks would be mostly handling the very heavy loads of processing the larger amounts of data.
He also mentions at the tech conference that,
“Ethereum is moving into a space where it can serve as the layer one trust system, and built into Ethereum we’ll have hundreds of thousands of transactions in the layer two systems and we’re going to see that ramified this year.”
Augur, which is a decentralized prediction market platform, of which the founder Joey Krug had described it to be as one of the most complicated decentralized application, has now, after years of development have launched themselves on the Ethereum blockchain protocol.
In May, Krug said:
“Augur’s about 10x more complex than the second most complicated ethereum project, makerdao, which has about 10 contracts vs augur’s 100. Complexity isn’t a good thing, and the Augur team has tried to make it as simple as possible, it’s just a really complicated endeavor.”
“Engineering dApps is more risky than engineering underlying blockchains IMO. It’s also harder, having been involved with both,” he added. Further stating that, “An underlying chain has no UI, little UX concerns, can fork if it runs into trouble, and doesn’t have to be *easily accessible* in a decentralized way.”
Layer one of the blockchain protocol of Ethereum improves the security layer and the layer two solutions provides the scalability it needs for complex projects and sophisticated dApps which require significant amounts of data processing capacities in order to function and perform seamlessly.