Ethereum (ETH) co-founder Vitalik Buterin has declared he was making an attempt to unravel Bitcoin’s (BTC) restricted practicality with the creation of Ethereum, according to an interview with Business Insider published on Feb. 28.
During the interview, Buterin compared Bitcoin to a plot key calculator, stating that it do you issue and it will it well, whereas he believes Ethereum is additional sort of a smartphone, which might run apps capable of doing nearly everything, as well as acting as a plot key calculator.
Buterin all over by shaping his answer in an exceedingly single sentence:
“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.”
Buterin has disclosed that his crypto investments area unit just about solely dedicated to the Ethereum network, along with his total non-ETH holdings — comprised of Bitcoin money (BCH), Bitcoin, Dogecoin (DOGE) and Zcash (ZEC) — accounting for fewer than ten % of the worth of his Ethereum holdings.
Also, in Dec last year, Buterin had declared that future blockchains with sharding supported proof-of-stake are “thousands of times more efficient,” which non-financial applications enabled by cheaper transactions can become “a larger a part of the story.”