Joseph Lubin Evaluates Hyperledger Fabric, Corda, EOS, Polkadot, Cosmos, and DFINITY

At last week's Deconomy 2019 conference in Seoul, South Korea, Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, gave a speech (titled: "The State of the Blockchain Ecosystem") that explained why the tokenized world of the future needed "a maximally decentralized base as the foundational settlement layer of the global economy," and why Ethereum's main competitors—Hyperledger Fabric, Corda, EOS, Polkadot, Cosmos, and DFINITY—are not viable options.

Here is how Lubin started his critique of Ethereum's competition:

"Assuming we agree that freedom, choice, and maximal trust are good things, what would be the optimal choice at this point for a global settlement layer on which we can re-architect our industries and collective endeavors?"


  • "Nope, there is no chance, in my opinion, of it ever evolving beyond relatively small networks for private, permissioned systems.
  • Fabric can issue tokens, but only for narrowly circumscribed situations.
  • The Fabric technology promotes platform lock-in."


  • "R3s Corda is blockchain inspired software for mostly banking industry applications.
  • It is more about point-to-point trust than a shared source of truth.
  • Corda can issue tokens, but only for narrowly circumscribed situations.
  • And Corda, as a technology, promotes platform lock-in."


  • "As has been debated endlessly, a platform controlled by 21 crypto bros is just not all that decentralized.
  • They can collude and censor if they wish.
  • Governments and other well resourced actors can bribe them or force them to act against their will and against the well-being and security of the people using the platform.
  • It has been argued that if these block producers start behaving badly, they will be voted out, and that is the main source of decentralization in the system.
  • Unfortunately, there is no good way for anyone to detect that they are colluding, or have been corrupted, or forced into some sort of improper action.
  • I can imagine EOS being used for some games, but not even for games that have high value tokens.
  • It will be too easy to organize to steal value on this platform."


  • "The Polkadot system is being built by Parity, the developers of the Ethereum Parity client. Parity is a very strong team.
  • Polkadot will achieve scalability by having one main heartbeat chain—the relay chain—with multiple parachains hanging off of it.
  • Polkadot is scheduled to launch its relay chain mechanism in Q3 of 2019.
  • The Polkadot worldview sees Ethereum connected as a potential 'virtual parachain' via a bridge.
  • For any parachain to become attached to the Polkadot relay chain, it must be voted in by the holders of ...
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Tags: DFINITY, the cosmos, Polka dot, Ethereum, HarperCollins, Blockchain, Joseph Lubin, R3, Hyperledger, Polkadot