Vitalik Buterin, the Russian-Canadian blockchain developer often credited as being the main founder of the Ethereum network, has previously stated that his interests do not include cryptocurrency tokens. Buterin has actually expressed disdain over the financial craze that the cryptocurrency bubble has created, explaining that he developed Ethereum mostly as a platform for smart contracts and distributed computing that could be used to advance computer science. In recent weeks, however, Buterin seems to be expressing concern over the fundamentals associated with Ethereum tokens.
Vitalik Buterin Answers Questions Concerning Ethereum
During a podcast interview plus a question-and-answer session conducted on Reddit, Buterin made comments directly related to the financial viability of ETH as well as Bitcoin. With regard to the latter, Buterin mentioned that he is not a fan of supply being capped at 21 million tokens, a feature that BTC developers implemented as a deflationary measure. Buterin spoke like an economist as he explained that finite supply rules do not guarantee the safety of any system; he was probably referring to the emergence of Bitcoin mining cartel, which has considerably raised barriers to entry.
What Does the Future Hold for Ethereum as a Digital Currency?
Buterin has even more reasons to be worried. Even though Ethereum enjoys the prestige of being the blockchain chosen by central banks to develop digital versions of fiat currencies, this could change in the near future. As recently reported by Bloomberg, the largest cryptocurrency exchange platform in the world is contemplating moving some of its ongoing projects from the Ethereum blockchain to Stellar, and the reason is that the former has become slower and more expensive over time; this happens to be the same kind of growing pains that Bitcoin has experienced.