Vitalik Buterin, the co-founder of Ethereum (ETH) revealed his vision for the creation of Ethereum occurred to solve Bitcoin’s limited functionality.
During an interview published on Business Insider, Vitalik shed the light on the purpose of cryptocurrency once again.
The co-founder compared Bitcoin with a plot calculator, as it does only one thing quite well while highlighting the benefits of Ethereum to handle multiple tasks, and compared Ethereum as a smartphone.
He rounded up the interview and made his solution while he stated,
“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.”
The growth of Ethereum has been an exciting journey to the crypto-enthusiast, commentators and investors alike. Ethereum experienced decent gains in the last couple of months and was able to establish itself as the world’s largest cryptocurrency after Bitcoin by market capitalization.
Vitalik has been involved with developing different solutions based on Ethereum networks. In December, he declared that future blockchains with sharding based on proof-of-stake will be “thousands of times more efficient,” and a lot cheaper.
Vitalik’s visionary thoughts and the ability to execute the ideas is considered to a major part of the Ethereum’s success in the run long.
What do you think of Vitalik Buterian’s comparison of Bitcoin and Ethereum? Drop us your comments below.