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Changpeng "CZ" Zhao, former Binance CEO, has acknowledged Vitalik Buterin, the Ethereum co-founder's, critical role in shaping the crypto industry. CZ’s comments came as a reply to a post on X highlighting the roles of those who have impacted the cryptocurrency space.
Ethereum’s innovations as building blocks of crypto growth
According to the Binance founder, Buterin’s contribution to the crypto world is one of the reasons that the industry has scaled this big. He emphasized that the Ethereum cofounder’s massive contributions were visible on several fronts.
This includes Buterin’s innovations like smart contracts, which are the foundation of decentralized applications (dApps).
Gamza KhanzadaevAnother innovation is ERC20 tokens, the standard that allows for the thousands of altcoins currently resident on the Ethereum network.
Buterin also contributed to NFTs' digital ownership revolution via the Ethereum ERC-721 standard and Ethereum’s layer-2 solutions, like rollups. These helped reduce crypto fees and increase efficiency.
Zhao maintains that these different innovations have all contributed to ensuring the rapid growth of the crypto industry. In effect, Buterin deserves recognition for his immeasurable role in impacting crypto as it is today.
CZ reflects on Ethereum’s early days
Interestingly, the Binance founder downplayed his contribution and influence on crypto, calling himself "a pleb still learning about blockchain." The former Binance CEO humorously refers to himself as an ordinary, inexperienced participant.
However, CZ has been an active participant in the crypto ecosystem, even though he recently stated he has no interest in starting a new crypto project.
Godfrey BenjaminZhao also has a close relationship with Buterin. According to him, in the early days, around 2013, he met Buterin at a Bitcoin conference and knew about the 2014 ICO. Zhao recalled sharing his skepticism about Ethereum's Turing-complete language on a blockchain with Buterin with the words, "Is that too big of a bite to chew?"
In response, the Ethereum cofounder assured CZ that it could be done.
Although the Binance founder hinted at regretting not acquiring much Ethereum at the ICO, he believes it may have made him complacent. Then he might not have been determined to launch Binance and BNB.
Dan Burgin
Vladislav Sopov