Ethereum’s co-founder, Vitalik Buterin, has long been a proponent of the cryptocurrency community, and in a recent podcast interview, the 27-year old expressed his views on not only his own network but top cryptocurrency Bitcoin and the communities of both the blockchains.
Buterin, who referred to himself as a tech philosopher in the interview, shared that he was bothered about the possibility of the cryptocurrency space walking into a “cultural trap” if the current schools of thought among many proponents of the top networks were not changed.
While in general, he was concerned that many crypto-proponents believed in the crypto-only approach while ignoring other issues in the world. As for Ethereum, the entrepreneur feared that the network’s main cultural mistake could be its exclusivity for the rich. Buterin further stated that this was probably happening due to the high fees that the network charges.
When asked about whether the flippening would take place in the future, Buterin answered that “it could.” As for why Ethereum could take over the market capitalization of Bitcoin, he said,
“I think the big difference between Ethereum and Bitcoin is that Bitcoin is a platform where the value of the ecosystem comes from the value of the currency, but in Ethereum the value of the currency comes from the value of the ecosystem.”
Since the much-awaited London hard fork took place on the network in June, the network fees issue is also being tackled while improving…