Vitalik Buterin, co-founder of Ethereum, said in an interview with CNN today that if its technology does not take forward steps from where it is today, Bitcoin has a “big risk” of falling behind.
“If it sticks to Bitcoin technology exactly as it is today, there is a big risk of being left behind.”
In addition, Buterin, though not sure, thinks Ethereum has a chance to eventually catch BTC and surpass Bitcoin in market value.
In a Crypto Bubble
Immediately after Wednesday’s crash, Buterin stated that the cryptocurrency was “definitely” in a bubble, but could not predict when it would end.
Vitalik Buterin, 27, the creator of the Ethereum blockchain, said in an interview by CNN Business; According to him, we are currently in a “crypto bubble” process and the real problem is only when this process will end.
“It may already be over. It could end months from now. ”
However, during the interview, Buterin also explained that he believes the cryptocurrency industry is approaching a mass adoption phase:
“Crypto feels close to being ready for the mainstream in a way that it didn’t even four years ago. Crypto is no longer just a toy. ”
Speaking about Elon Musk, Vitalik explained that Tesla’s CEO has only been in the industry for about a year and therefore believes it is “reasonable to expect a little bit of madness”.
Moreover, he spoke to Buterin during the interview about NFTs, hinting that this phenomenon is on the rise and that Ethereum’s blockchain is a major player, but Vitalik did not comment on it.
Finally, in the video, Vitalik explained why he was impressed by the blockchain world:
“The reason cryptocurrency is so interesting is because it allows large groups of people to collaborate and do everything on the same platform, but not as a single person or a single company or even a single government, but as a sort of medium. And you know, we sleepwalked in a world where Facebook sees all your data; Twitter can choose who stays on the platform and who leaves it. I think decentralized systems could potentially offer an alternative to all of this. And so you don’t need to have one type of checkpoint in the middle. ”