Vitalik Buterin: the increase in ETH price helps the project

Vitalika Buterin does not need to be presented to anyone. Co-founder Ethereum gave an interview to Laura Shin yesterday evening. The topic of the conversation was the development of its innovative, blockchain platform.

In part, it was about awarding Ethereum among other crypto projects that are trying too hard to break out. However, it was also about minimizing the legal risk. We have tried to ensure that the project does not look like something that would be covered by financial regulations

– he mentioned the genesis of Ethereum.

Does the price matter?

Vitalik a few months ago provoked a lot of excitement on the market with its nonchalant statement that BTC or any other cryptocurrency would not pass any bubble any more. Now – talking about the topic of token prices – he noticed another, important aspect that is often overlooked:

I can say what is so important in why the higher price is better than the lower one. One obvious argument is security. If the price is zero, the network can not be safe in any way. This is how it works in Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms.

In addition, the higher the price of ETH startups have more USD to spend on their development:

If the price is higher, (projects) will have more money for what they want to do … They will be better financed if the price increases.

ICO is Ethereum’s child?

For many, Buterin is considered the father of the ICO, because it was the Ethereum-based project that began to be created. Today, he belittles his role:

At some point, the ICO had to appear on some platform, no matter what.

So, was the cryptocurrency market sentenced to ICO? That’s what Buterin thinks. Maybe somewhere in the middle you feel complicit (wrongly!) Pathologies that arose in this market? He also said a few words about it:

Some projects were simply scams. Their marketing was excessive, and some of them use my image claiming that I was their adviser.

Unfortunately, such things are happening. If there was a magic wand that could shut them all, it would probably be better. But magic wands do not exist.

Advice for Nakamoto

When asked what he would advise his precursor, Satoshi Nakamoto, he said:

Satoshi had a really hard job and could not predict how the ecosystem would evolve, that it would become more than just a scientific experiment

Podziel się wpisem

Leave a Reply

Your email address will not be published.