Ethereum Co-founder and ConsenSys boss Joseph Lubin recently stated that about a million developers will join the Ethereum network in the long run. This could help Ethereum overcome the barriers is the line of becoming the biggest and most efficient crypto-blockchain network in the world. ConsenSys, arguably the world’s biggest blockchain solutions company, introduced the “1 million developers” initiative in the last quarter of 2019, to encourage more and more technical minds to join the network.
Lubin reiterated this fact at the recently concluded ETHDenver 2020, a workshop cum gathering of the Ethereum community. While addressing the guests, he said that the platform will also try to rope in developers who aren’t full-time blockchain engineers. He added,
What does it actually mean to have a million people working on the Ethereum platform? It’s not just about funded projects and full-time blockchain engineers: hackers, students, Web2 developers integrating elements of Ethereum into their existing work are also Ethereum devs. The more inclusive, frictionless blockchain-based systems we are all trying to build will be emergent. They will take shape incrementally, via bridges between legacy systems and new pathways, via small experiments and gradual policy changes.
Will This Affect Price?
The success of every blockchain network depends upon the activities conducted on a network, and how smoothly these activities are considered. A million developers joining Ethereum blockchain would ensure continuous background activities, especially those focused on improving stability, scalability, and lag-free experience.
Ethereum, in the past, has been criticized for slow processing speeds and traffic congestions. In fact, TRON chief Justin Sun had taken a dig at the company’s ability to handle USDT, urging users to use the TRON blockchain. Therefore, scalability is a big issue, and this can be solved with the help of multiplied developer activity, who will work to improve the overall experience and fix the glitches and issues almost in real-time.
It would be quite optimistic to claim that ETH prices would rise in the short run, especially at a time when the market at large is stagnating while the crypto-blockchain industry is facing a big threat in form of Coronavirus in blockchain technology’s one of the biggest consumer market China. However, a sustained effort from the developers will create a robust ecosystem, and in the long run, we will definitely see positive growth in price.