Connect with us

Ethereum

Ethereum [ETH]’s Vitalik Buterin says he is ‘pretty sure’ that more ERC20 tokens will be released

Akash Anand

Published

on

Ethereum [ETH]'s Vitalik Buterin: 'I am pretty sure more ERC20 tokens will be released'
Source: Pixabay

In a recent interview, Bill Barhydt, the CEO of Abra, discussed the progress of the Ethereum network and the applications built within the ecosystem, with Ethereum’s Vitalik Buterin. Buterin started the discussion by elucidating the advantages and differences between the Bitcoin network and the Ethereum ecosystem. Buterin said:

“Bitcoin is a special purpose blockchain because it is good at the one thing that it does. Ethereum is a special purpose blockchain which contains its own token ETH which can be used as a cryptocurrency. The Ethereum network has smart contracts within it and other blockchain applications can also be implemented on it. The ecosystem can be used for financial contracts, identity systems and all those important things on the long list of blockchain applications.”

The Ethereum Co-founder admitted that the field evolved a lot since its nascent years and that he had figured out that it was a general tool that would allow other people in the community to build on it. According to him, people have come up with a lot of applications on Ethereum, with decentralized file storage and different tokenization methods being a key use.



Bill Barhydt further enquired about the craziest applications that Vitalik had observed on the Ethereum blockchain. To this, Buterin said:

“I am really impressed by MakerDAO. It is a smart contract system that issues a currency that is pegged to the dollar. It does not depend on any centralized systems and maintains a peg. It also includes a data fee that feeds the price, this basically means that the crypto does not need to conform to banks but is still stable.”

Vitalik Buterin also talked about the future of ERC20 tokens and stated that more of them would be released soon. He claimed that the age of the multi-million ICO has passed, but the tokens can be used to represent assets and these assets can be used in video games and other applications. The computer scientist further opined that ERC721 tokens would be used to represent digital collectibles and that app coins are overhyped and overused.





Subscribe to AMBCrypto’s Newsletter


Ethereum

Ethereum [ETH]: Samsung planning to create its own ETH-based blockchain; may issue own token soon

Akash Anand

Published

on

Ethereum [ETH]: Samsung in the works to create its own ETH-based blockchain, may issue own token soon
Source: Pixabay

The mainstream adoption of cryptocurrencies and blockchain technology has come a long way, with many financial and non-financial institutions now entering the mix. Technology giant, Samsung, is not new to the field, as the South Korean organization previously blew up the cryptosphere by meshing crypto with the launch of the company’s latest flagship device, the Galaxy S10.

Latest reports now suggest that Samsung is getting more serious about virtual assets, as the company might be on its way to create its own Ethereum [ETH]-based blockchain network, with the prospect of launching its own cryptocurrency token in the near future. An anonymous official from the organization stated,



“Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid—that is, a combination of public and private blockchains.”

Sources from within the company added that blockchain technology is being developed by the wireless technology division of Samsung. Despite the fact that it has not been confirmed as to what devices will provide support for the blockchain, a company official revealed that “some models are being tested for it.”

Samsung’s tryst with Ethereum has been ongoing for quite some time now, with previous developments suggesting that Ethereum could be vulnerable on the S10 device. This was evidenced by a video put out by a user ‘darkshark’ on Imgur, in which it was shown how easy it was to crack the phone. Darkshark stated,

“This brings up a lot of ethics questions and concerns. There’s nothing stopping me from stealing your fingerprints without you ever knowing, then printing gloves with your fingerprints built into them and going and committing a crime.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending