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Ethereum [ETH]’s Vitalik Buterin says he will lose certain amount of hope for humanity if Tron overtook Ethereum

Priya

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Ethereum's [ETH] Vitalik Buterin says he will lose a certain amount of hope for humanity if Tron overtook Ethereum
Source: Unsplash

Vitalik Buterin, the co-founder of Ethereum [ETH], spoke about other blockchains taking the lead, during an interview with Laura Shin at the Unchained Live event. He also named the project he thought was a competition to Ethereum.

According to a report by BreakMag, Vitalik Buterin spoke about whether he was worried about the world’s second largest cryptocurrency losing its position in the space, in light of the emergence of new projects such as Polkadot. To this, he stated that new projects were usually optimistic in their initial days, citing the example of Bitcoin sidechains.

The initial conception of Bitcoin sidechains was that it was “going to kill Ethereum,” he said. However, in reality, “there’s really only working Bitcoin sidechain.” Buterin concluded by stating that he was “definitely not worried” about projects such as Polkadot replacing Ethereum.

Laura Shin also questioned Buterin on whether he would personally be upset if another blockchain took the lead. It would depend on the blockchain, he said, adding that relations were friendly between ZCash and even, Ethereum Classic. However, if Tron were to take over Ethereum, Buterin stated that he would “have lost a certain amount of hope for humanity, not nearly all.”



Vitalik Buterin also spoke about the project he believed was the “most promising competitor” for Ethereum. He said, 

“Dfinity. Dominic [Williams, the president and chief scientist of Dfinity] and I use the aspirational term ‘sister network.”

During the interview, he also addressed the question of whether he was worried about Ethereum’s token sale being deemed as a securities sale. Buterin replied in the negative, stating that the Foundation’s legal team was paying close attention to it.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Ethereum

Ethereum Classic [ETC] might boost security value of Ethereum, claims ETC’s Donald McIntyre

Biraajmaan Tamuly

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Ethereum [ETH] can be benefit Ethereum Classic as ETC might boost the security value of ETH, claims Donald McIntyre
Source: Pixabay

Ethereum [ETH] is one of the most proficient cryptos in the space and its wider adoption has become one of the most speculated and debated topics in the cryptosphere. Recently, Ethereum [ETH] welcomed a major partnership with Ernst and Young, which could signal the release of its new-zero proof technology on the Ethereum blockchain.

Despite such major developments, one of the major issues Ethereum and other major cryptocurrencies have faced is the addition of security value to their asset.

A prominent Ethereum Classic [ETC] proponent believes that the ETC network can assist the main Ethereum blockchain in improving its security.

Donald McIntyre, the manager of ETCDEV, an organization focused on the development of Ethereum, recently stated that the divergent functions of ETH and ETC could improve the relevance of Ethereum Classic.

McIntyre drew a comparison between ETH and ETC, terming the respective digital assets as a “sports car” and an “armored vehicle”. He drew this comparison to explain that ETH was fundamentally about scaling and performance, while ETC emphasized on high value and security.

He suggested that ETH was heading towards the identification of a network which would provide high speed and high transactions layers to meet high-performance applications, whereas ETC was based on decentralized computing and smart contracts between people and companies.

He added,



“In that analogy, ETC could even provide security services to high performance networks such as ETH. I think it would be a big advantage for both ecosystems [ETH and ETC] to analyze that possibility as it would likely minimize, in the context of a standards war, which means that only few networks will survive in the future.”

He further piled on the “unique characteristics” of ETC, stating that after ETH’s transformation to ETH 2.0, ETC would be the only non-fragmented, fixed monetary policy, PoW, and Turing-based blockchain.

He said,

“That is an extremely valuable niche in the industry that will be increasingly appreciated in the next few years as the layer 1 [L1] vs layer [L2] and security vs performance segmentations become more evident for market participants.”





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