Vitalik Buterin Says He Wants Ethereum (ETH) To Become a ‘Bitcoin-Like’ System – Here’s What’s Stopping Him

Ethereum (ETH) co-founder Vitalik Buterin says he has a desire to see Ethereum become a system more akin to Bitcoin (BTC).

Buterin recently took to Twitter to outline some of the contradictions he perceives between his “thoughts and values” that he doesn’t feel like he’s resolved relating to crypto.

Track live crypto price of 10000+ coins!

The first item on his list is a contradiction between his desire to see Ethereum become more like Bitcoin, with an emphasis on “long-term stability,” and his realization “that getting there requires quite a lot of active coordinated short-term change.”

On April 1st, Buterin penned a passionate defense of Bitcoin maximalism – though it was unclear whether or not the blog post was an elaborate April Fools’ Day joke.

In his Twitter thread this week, the famous programmer says he also feels a contradiction about the security of key apps on Ethereum.

“Contradiction between my desire to see Ethereum become an L1 [layer-1] that can survive truly extreme circumstances and my realization that many key apps on Ethereum already rely on far more fragile security assumptions than anything we consider acceptable in Ethereum protocol design.”

Buterin says he also feels a contradiction about certain countries’ “radical policy experiments” with crypto.

“Contradiction between my desire to see more countries adopting radical policy experiments (eg. crypto countries!) and my realization that the governments most likely to go all the way on such things are more likely to be centralized and not friendly to diversity internally.”

Additionally, the Ethereum co-founder also feels conflicted about certain modern blockchain applications.

Related:  Another Mega Bitcoin Crash Is in the Books

“Contradiction between my dislike of many modern financial blockchain ‘applications’ ($3M monkeys etc), and my grudging appreciation for the fact that that stuff is a big part of what keeps the crypto economy running and pays for all my favorite cool DAO [decentralized autonomous organization]/governance experiments.”

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Catalyst Labs

Download MAXBIT Android App, Your best source of all crypto news!

Google Play

Source link

Share this article: