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Ethereum Co-founder Vitalik Buterin Names Least Favorite Aspect of Crypto

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Wed, 28/06/2023 - 16:05
Ethereum Co-founder Vitalik Buterin Names Least Favorite Aspect of Crypto
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Ethereum co-founder Vitalik Buterin disclosed his least favorite aspects of the cryptocurrency industry in a recent Twitter AMA session.

Responding to a question by crypto enthusiast David Hoffman, Buterin expressed his disappointment in those who perceive the main innovation of cryptocurrencies to be merely tokenization.

He further identified several secondary concerns, including massive capital misallocation, people compromising their principles, unrealistic purist beliefs and unnecessary conflicts within the industry.

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Buterin's comments highlight a tension within the crypto community. The tokenization aspect has opened avenues for new economic models and democratized access to financial instruments, but it appears Buterin believes that viewing it as the main innovation undermines the broader potential of the technology. Blockchain technology, the foundation of cryptocurrencies, offers potential solutions in trust, transparency and decentralization, areas that extend far beyond token creation and management.

Harmony with Bitcoiners?

During the Q&A session, Buterin also suggested ways to create harmony between Ethereum and Bitcoin proponents. He stressed the importance of collaboration to support freedom and privacy tools outside the blockchain. These tools could include end-to-end messaging without phone number requirements, internet anonymity, secure operating systems like graphene and qubes, open hardware and open VR.

Moving to Mars?

Additionally, Buterin exhibited interest in the potential of human settlement on Mars, responding to a question about the possibility of relocating should Ethereum's transactions per second (TPS) hit 60 million. He noted his decision would depend on the quality of life, jurisdictional properties and culture present on Martian settlements. While only a lighthearted hypothetical, it signals Buterin's broader perspective on the intersection of technology, society and future human endeavors.

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