In a recent interview with The Stakeborg Talks podcast, Ethereum founder Vitalik Buterin spoke candidly about a wide range of issues, including his early penchant for mathematics and problem solving, the potential of decentralized autonomous organizations or DAOs, his views on the Bitcoin community and the non-fungal token or NFT room.
In response to a request for a preference for the position, Buterin – a humble businessman with a passion for the profession – called himself a technical philosopher and may have coined the term.
Buterin paraphrases a notorious scientific and warlike quote from the Athenian historian Thucydides and outlines the perspectives of the changing distinction between the doctrine of continuous progress in the technology industry and the abstract sculptural space of thought leaders in philosophy.
When asked if we see volatility in Ethereum, which surpasses Bitcoin not only in value, but also as a vault with valuable assets, he simply answered “may” before stating:
“I think the big difference between Ethereum and Bitcoin is that Bitcoin is a platform where the value of the ecosystem depends on the value of the coin, and in Ethereum, the value of the coin depends on the value of the ecosystem.”
The long-awaited update to London’s Ethereum hard fork in mid-August increases the network’s transaction fees, especially through transaction fees and mining revenues. In this regard, Buterin said above:
“Especially after EIP 1559, when the charges were burned, it becomes true in a more direct economic sense.”
In September, Buterin appeared at the opening of Time Magazine’s 100 Influencers in 2021 for his instrumental role in expanding the Ethereum network to more than $ 400 billion in market value. Other awards were given to DeFi and NFT leaders.
Talking about the emergence of decentralized autonomous organizations and, in particular, the development of models such as square voting and finance, Buterin outlined retrospective experiments with the Gitcoin DAO and Optimism as examples of projects that have evolved the landscape.
Asked if DAO will be the next sector to emerge in the crypto ecosystem following the success of decentralized finance and non-fungal tokens, Buterin said:
“I think that over time, DAOs will definitely become more important … As for what is still missing in the DAO space, I don’t think it’s a big deal, but a lot of little things. When will this be the first time the DAO decides to “create a strategic hub? or when will the two DAOs decide to merge? It’s the ability to make big decisions, not just move in the same direction, and I think that’s what we’ll see soon. ”
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Finally, while commenting on the rapid emergence of the NFT space, Buterin shares some thoughts on the new demographics that the original attracted:
“I think NFTs were culturally interesting because they attract people with a completely different mindset to Ethereum than, for example, DeFi and conventional cryptocurrencies.”