Vitalik Buterin shared his thoughts on the Ethereum blockchain network and its quality & reputation, which reached to the level of Bitcoin.
On 17 May, Vitalik Buterin, co-founder of Ethereum blockchain, shared his thoughts on Ethereum and new investors, which are willing to go with safe crypto Investment.
Vitalik said that he sees Ethereum more likely to Bitcoin, in terms of stability & decentralized nature but at the same time he emphasized that there may be chances that his thinking may be contradictory to other people.
Further Vitalik tried to drag the attention toward the dominance of Ethereum in the crypto industry as a smart contract enabled blockchain Network, which provides a decentralized ecosystem for the Defi projects to provide crypto-related services.
“Contradiction between my desire to see Ethereum become an L1 that can survive truly extreme circumstances and my realization that many key apps on Ethereum already rely on far more fragile security assumptions than anything we consider acceptable in Ethereum protocol design.”
Vitalik also noted that the adoption of cryptocurrencies by the countries may not be part of the decentralized system, instead, they will always adopt it in a centralized system. So there will always remain a barrier between the traditional and digital ecosystems.
In the last tweets, Vitalik asserted that Layer-1 blockchain networks will play only an important role in the future as a better option to adopt in the payment system because the layer 1 features always remain better to with ease without going through huge complexities.
“Contradiction between my desire to maximally simplify the L1 and my desire to maximally simplify the whole ecosystem (as a simple L1 often “exports” its complexity to higher layers of the stack that users have to adopt anyway).”
Cardano founder Charles Hoskinson responded to this tweet thread of Vitalik and indirectly suggested the crypto investors consider Cardano as an option to invest money.
Charles Hoskinson & Vitalik Buterin
Interestingly Charles Hoskinson & Vitalik Buterin, both were doing work on the Ethereum project together in the past but due to some disagreement with their thoughts to use the Ethereum blockchain, Charles left the project and started own seprate project, Cardano, in 2017.
Read also: 90% Terra community doesn’t want Luna Fork