Tuesday, October 19, 2021

Vitalik Buterin Stresses Major Difference between Ethereum (ETH) and Bitcoin (BTC)

Vitalik Buterin, the co-founder of Ethereum (ETH), has stressed a major difference between the two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum.

Buterin shared his viewpoint on several issues in a recent podcast interview with The Stakeborg Talks first published by CoinTelegraph. In the course of the conversation, he talked about his perspective on the Bitcoin community and the non-fungible token (NFT) ecosystem.

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Major Difference between Ethereum (ETH) and Bitcoin (BTC)

When Vitalik Buterin was asked whether Ethereum could outshine Bitcoin in both price value and as a store of value asset, he simply said, “it could”.

Expatiating his viewpoint, he said, “I think the big difference between Ethereum and Bitcoin is that Bitcoin is a platform where the value of the ecosystem comes from the value of the currency, but in Ethereum the value of the currency comes from the value of the ecosystem…

“Especially post-EIP 1559 when you have the fees burnt, that then becomes true in a more direct economic sense.”

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When asked whether decentralized autonomous organization (DAO) will become the next sector to emerge within the crypto ecosystem after the huge success recorded by decentralized finance (DeFI) and non-fungible tokens (NFTs), Buterin said:

“I think DAO’s are definitely going to be more important over time… In terms of what’s still missing from the DAO space, I don’t think there’s any one big thing, but more a lot of little things.

“When will be the first time a DAO decides to make a strategy pivot, or when will two DAO’s decide to merge? It’s the ability to make big decisions and not just continue incrementally on the same path, that’s something I think we’ll see soon.”

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Expressing his point of view in relation to the rapid growth of the NFT ecosystem, he said:

“I think NFT’s have been interesting from a cultural perspective because they bring people into Ethereum that have a completely different mindset than DeFi and regular crypto people for example.”


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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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