Buterin opens up about various aspects of his life and his opinions of various hot debated topics in the cryptocurrency domain.
Ethereum & Beyond
UpOnly hosts sat down for a detailed, intimate chat with Ethereum’s renowned co-founder, Vitalik Buterin.
The hosts of UpOnly, Cobie and Ledger, began the chat with Buterin on January 21 at 18:00 UTC, live streaming for over 100 minutes on Twitch. The live event was sponsored by the FTX exchange. The discussion began with Buterin being questioned about his interests apart from crypto in a conscious effort to steer clear of the discussions Buterin had a couple of weeks ago on the Bankless podcast. Buterin spoke about a book he recently read to which Cobie asked if he would ever run a book club and what plans he had before he stumbled upon blockchain tech.
“I do think anything is possible; 10 years ago I would not have imagined myself doing the whole cryptocurrency thing. (..) Let’s see before I discovered bitcoin. I think I just probably did not was not thinking too deeply about my long-term plans. I thought that okay you know here’s school I would do the school thing, and then I would do university and then hopefully I would figure it out from there. Like actually be able to have a decent life in the post-apocalyptic future where the US dollar hyperinflates,” hypothesized Buterin in response.
Buterin also spoke about his journey into writing in the Bitcoin Magazine and being involved peripherally in several crypto projects as a developer for bounties, interacting with the OG Canadian cryptocurrency scene and applying for a job at Ripple. He was questioned about anything he might have done differently with Ethereum in retrospect, having too many co-founders was one of the first aspects he touched upon.
“The co-founders thing was definitely a big deal. Years down the line one of the VCs who passed on Ethereum at the time told me that a very big reason why basically was that they knew that projects with 8 co-founders just don’t work. I think he was right that having 8 co-founder is a big problem like you just have all these people that have very different values and different ideas of what makes a good project and what they’re trying to create. But I think the only thing that he underestimated was just after that the initial kind of structure did break down and it turns out that Ethereum had this really amazing ability to bounce back,” revealed Buterin in response.
He also spoke about wondering how things would have turned out if Ethereum had different distribution models in the beginning citing the example of having half or two-thirds of the supply airdropped to Bitcoin holders.
“What if we had instead of structuring it as a kind of de novo cryptocurrency it just made it a kind of fork of Bitcoin, BCH style, except with some extra rules and there would be some pre-mine, but people understand that it’s this alternative vision that just tries the more radical direction.” he opined.
PoS, NFTs & Multi-Chain
Even though Cobie and Vitalik both were hesitant about discussing Ethereum as Buterin has spoken about it extensively on several podcasts, it was unsaid that the discussion had to come down to it at some point. The trio discussed the current ongoing migration of the Ethereum network to the Proof of Stake (PoS) consensus mechanism and when it became the obvious long-term solution for the network.
“I first properly heard of the concept in 2013, and I thought hey this is a very promising research direction. Then in 2014, I started just going deeper and deeper into it and started understanding what would a proof of stake chain actually look like and what are the trade-offs, what do what do we gain, what do we have to sacrifice, and like eventually I had a proper understanding of what the trade-offs are and I got convinced Ethereum has been on the road to proof of stake ever since.”
Vitalik also discussed NFTs being the next big use-cases for blockchain technology after cryptocurrencies and DeFi. As previously reported by Bsc.News, Buterin opined via a response in a Reddit AMA on January 7 where he mentioned why he believes that the future is multichain and not cross-chain. He reiterated his concerns about the cascading effects of the security concerns around using cross-chain bridges.
You can find the complete video recording on UpOnly’s youtube channel.
Who is Vitalik Buterin?
Vitalik Buterin is one of Ethereum’s co-founders who is still the most involved with the core technology of the blockchain network. Buterin features on two of Forbes lists named, ‘30 Under 30 – Finance’ and ‘30 Under 30 – Hall of Fame.’ Since co-founding Bitcoin Magazine in 2012, he has become one of the widely known personalities from the cryptocurrency markets and an ambassador of blockchain technology.
Find more about Buterin here:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.