Vitalik Buterin Making A Jump From ETH To BTC?

Vitalik Buterin, co-founder of Ethereum (ETH), says he wants Ethereum to become more like Bitcoin (BTC). Buterin recently took to Twitter to discuss some of the inconsistencies he sees between his beliefs and principles that he hasn’t been able to overcome in relation to cryptocurrency.

Vitalik Buterin Making A Jump From ETH To BTC?

This week, Ethereum co-founder Vitalik Buterin unleashed a tweetstorm highlighting inconsistencies in his beliefs and ideals. Buterin identified 10 major inconsistencies, such as minimizing dependence on humans versus developing long-term systems, and his passion of decentralization and democracy versus a predisposition to agree with intellectual elites over the public.

The programmer, who has previously expressed his disdain for Bitcoin, began his lengthy Twitter thread by expressing his enthusiasm for the principal crypto network. While Bitcoin has succeeded in emphasizing long-term stability, he believes Ethereum will need to engage in major active short-term change to do so.

Bitcoin updates and changes far less regularly than Ethereum, and its community is particularly resistant to hard fork efforts. Ethereum, for example, is ready to switch to a proof of stake method, while Bitcoiners insist that the old proof of work process is preferable.

Tim Beiko, an Ethereum Protocol developer, said last month that the Merge will not take place in June, as originally planned. Merging the concurrently operating PoW and PoS chains is referred as as the Merge. This event marks a big step toward the completion of the ConsenSys layer (ETH 2.0). According to current projections, the deployment will take place in Q3/Q4 of 2022.

Given Vitalik Buterin’s optimism, he realized that Ethereum has yet to find a more successful use than banking. He envisioned Ethereum as a test platform for decentralized consensus systems that may go beyond Bitcoin’s monetary / store of value role in the initial whitepaper.

The Twitter post goes into great detail about the subject, including topics like producing sound money, the need of early movers, and the need for tolerance to combat bad actors. Vitalik Buterin concluded by urging further maximalism. It’s safe to infer that the Ethereum co-founder is a staunch supporter of Bitcoin and people who promote its philosophy above everything else.

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Jai Hamid

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