While on a Feb 28 interview with the Business insider, Ethereum co-founder Vitalik Buterin explained his purpose for coming up with Ethereum; stating that he was focused on solving Bitcoin’s (BTC) limited functionality.
Ethereum which happens to be the world’s second largest crypto-currency by market cap has a lot of apps and tools made on its back. During the interview, Buterin likened Bitcoin to a plot key calculator, stating that it does one thing and does it well. In the same breath he likened Ethereum to a smartphone, which has the ability of running apps that are capable of doing almost everything, including acting as a key calculator (the reference he made for Bitcoin’s functionality)
The projections for Ethereum’s growth have been nothing short of exciting to crypto enthusiasts, commentators and investors alike. The last two months have seen the crypto-currency make decent gains while the founding crypto-currency and largest crypto by market cap, Bitcoin has consistently stumbled in its attempts to breach key resistance levels.
During the interview with the Business Insider, Vitalik Buterin concluded by saying;
“So [what I did is] basically taking that same kind of [smartphone] idea of increasing the power of the system by making it more general purpose and applying it to blockchains.”
This right here is the solution that Ethereum brings to the table to make up for Bitcoins limited functionality. As popular Crypto publication, Cointelegraph reported last month, Vitalik Buterin has disclosed that his crypto investments are virtually exclusively devoted the Ethereum network with his total non-ETH investments which are Bitcoin Cash (BCH), Bitcoin (BTC), Dogecoin (DOGE), and Zcash (ZEC), accounting for less than 10 percent of the value of his Ethereum holdings
Buterin who’s been known for handing out ETH donations to various projects working to develop solutions based on the ethereum network, declared that future blockchains with sharding based on proof-of-stake will be “thousands of times more efficient,” and that non-financial applications enabled by cheaper transactions will become “a bigger part of the story”.
The ethereum token which comes a distant second to Bitcoin in terms of market valuation has been touted to have the ability to leap frog Bitcoin at some time in the future. Judging by the fact that a lot of developers are gravitating towards Ethereum to base their projects on, this assertion cannot be deemed far-fetched.
Clearly developers think the platforms infrastructure is solid and is indeed a great solution, which indicates that investors may just gravitate towards Ethereum in large numbers. If that institutional money starts flowing in, then they will no way to stop the token’s lift off.
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