Vitalik Buterin, the co-founder of the Ethereum (CRYPTO: ETH) blockchain, said he faces a contradiction between wanting his blockchain to be more of a Bitcoin-like (CRYPTO: BTC) system and realizing what it will take to get there.
What Happened: In a series of tweets on Monday, Buterin shared some “still open contradictions” in his thoughts and values that he has yet to fully resolve.
Contradiction between my desire to see Ethereum become a more Bitcoin-like system emphasizing long-term stability and stability, including culturally, and my realization that getting there requires quite a lot of active coordinated short-term change.In one of these contradictions, Buterin expressed his desire to see Ethereum become a more Bitcoin-like system, while emphasizing the theme of its long-term stability and culture.— vitalik.eth (@VitalikButerin) May 17, 2022
“My realization that getting there requires quite a lot of active coordinated short-term change,” he said.
Buterin’s statements came as a surprise to both Bitcoin and Ethereum maximalists, some of whom interpreted it as an open admission that Bitcoin was superior to Ethereum.
Of late, an increasing number of crypto industry proponents have made a case for Ethereum as the better alternative to Bitcoin, based on perceptions around the smart contract network’s wider range of utility.
These include former global macro investor Raoul Pal, who believes Ethereum will flip Bitcoin in terms of market cap, and Shark Tank investor Mark Cuban, who dubbed himself an “Ethereum maxi” in November last year.
Moreover, as Ethereum transitions away from the energy-intensive Proof-of-Work (PoW) consensus mechanism and into a Proof-of-Stake (PoS) network, it is likely to be more well-received by those critical of blockchains’ negative impact on the environment.
See Also: HOW TO BUY ETHEREUM (ETH)
Price Action: According to data from Benzinga Pro, the leading digital asset Bitcoin (CRYPTO: BTC) was trading at $30,264, down 0.34% over 24 hours. Ethereum (CRYPTO: ETH) was trading at $2,070, down 0.31% over the same period.
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