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  • Ethereum’s Joseph Lublin compares blockchain with email in 80th.
  • Ethereum is rangebound after a recovery attempt.

Speaking SXSW conference, the head of blockchain-startup Joseph Lublin, expressed an opinion that the mass adoption of blockchain technology will lead to 10-fold global economy growth within the next 10-20 days.

He said that few ordinary people use blockchain-based systems nowadays. He drew parallels with an email that was a mystery for the majority of the population in 80th.

He also touched upon Ethereum 2.0, saying that the updated version of the protocol behind the second largest cryptocurrency will be free from many deficiencies.  

Currently, both Bitcoin and Ethereum require powerful equipment that consumes lots of energy to ensure the network synchronization; however, in about 18 months Ethereum will have more powerful and scalable blockchain system that needs much less power, Lublin said.  

Meanwhile, ETH/USD is changing hands at $138.35, off the weekend high touched at $146.13. Looking technically, the second largest cryptocurrency with a market value of $14.7B is sitting in a range. The support is created by a confluence of technical indicators clustered around $137.00 handle, while the resistance comes at $146.00.  

ETH/USD, 4H chart