In a recent Twitter AMA session, Ethereum co-founder Vitalik Buterin discussed his least favourite parts of the cryptocurrency sector.
Buterin voiced his dissatisfaction with individuals who believe that the major innovation of cryptocurrencies is essentially tokenization in response to a question posed by cryptocurrency enthusiast David Hoffman.
He also noted a number of additional issues, such as significant financial misallocation, individuals sacrificing their values, erroneous purist ideas, and unneeded fights within the sector.
Buterin’s remarks reveal a conflict among the cryptocurrency community. Although the tokenization feature has created opportunities for new economic models and democratised access to financial instruments, it seems Buterin thinks that emphasising this feature as the technology’s core invention may limit the technology’s overall potential. Beyond the production and maintenance of tokens, the blockchain technology that underpins cryptocurrencies provides possible answers in the areas of trust, transparency, and decentralisation.
Harmony with Bitcoiners?
Buterin made suggestions for methods to bring together supporters of Ethereum and Bitcoin during the Q&A session. He emphasised the value of working together to support instruments for privacy and freedom outside of the blockchain. End-to-end texting without the need for a phone number, internet anonymity, secure operating systems like graphene and qubes, open hardware, and open VR might all be among these tools..
Moving to Mars?
Buterin also expressed interest in the prospect of human habitation on Mars in response to a query on the possibilities for relocation should the number of Ethereum transactions per second (TPS) reach 60 million. He said the standard of living, legal attributes, and Martian colony culture would all influence his choice. Even though it is simply a facetious hypothetical, it illustrates Buterin’s larger viewpoint on the relationship between technology, society, and foreseeable human endeavours.
