Vitalin Buterin admits mistakes made when creating Ethereum (ETH)

Vitalik Buterin looks back at the history of Ethereum and its mistakes

The creator of Ethereum invited the people he follows on Twitter to ask him any questions yesterday. Contributions have poured in, and they have revolved around the history of Ethereum a lot. The co-founder of Osmosis asked Vitalik Buterin about his biggest regrets:

The whole “8 cofounders” thing (and choosing them so quickly and nondiscriminately).

– vitalik.eth (@VitalikButerin) September 2, 2021

Vitalik Buterin confirmed that “this whole thing with the eight founders” was his biggest regret. He explains that he would have liked not to have chosen them so quickly, and that he would have liked to apply more selection criteria. He also details the hardest lesson for him to learn:

“People are harder to coordinate in small groups than I expected. Can’t expect them all to sit in a circle and collaborate […] especially when there are huge conflicts over rewards at stake. “

As a reminder, among the original founders of Ethereum, only Vitalin Buterin still works on the network. Gawin Wood left to create Polkadot (DOT) and Charles Hoskinson founded Cardano (ADA). Others have dedicated themselves to side projects, such as Joseph Lubyn, who created ConsenSys.

Vitalin Buterin also explained that he was convinced that the transition to Proof-of-Stake would only take one to two years. The process towards Ethereum 2.0 is currently still ongoing, it was initiated in 2015.

“Ethereum will move to proof of stake within 1-2 years”

– vitalik.eth (@VitalikButerin) September 2, 2021

👉 More info on Ethereum 2.0 development

The transformation of the Ethereum network

Vitalik Buterin also explained that he did not anticipate some changes in Ethereum, which came as the network found a growing audience. He confirms that he was the most surprised by the development of NFTs, because he had not expected this use case to take on such a scale.

In addition, the co-founder of Ethereum explained that he now has a different view of the crypto ecosystem:

“Ten years ago, I thought the market for resources, property rights, trade, etc. were the most important processes in the world. Today, I’m thinking a lot more about the discussion ecosystem, about the dissemination of memes / culture / ideas. This area follows very different laws from the other! “

Proof of this was made with this short exchange with an Elon Musk who couldn’t help but ask Vitalik Buterin a meme-like question:

X AE A-12 don’t hurt me …

– vitalik.eth (@VitalikButerin) September 2, 2021

As to whether Vitalik Buterin could project into another cryptocurrency in the future, the answer was short, but clear:

No.

– vitalik.eth (@VitalikButerin) September 2, 2021

👉 Find our interview in French with Vitalik Buterin

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About the author: Marine Debelloir

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Deputy Editor-in-Chief on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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