Monday, December 4, 2023

According to Vitalik Buterin, the Ethereum white paper foresaw DeFi but missed NFTs.

Vitalik Buterin is the co-founder of Ethereum. He recently undertook a review of all the predictions that he had made in 2021 for blockchain technology. In a white paper he had authored for Ethereum, he had predicted Decentralized Finance (DeFi). He admitted that he, however, had totally missed the coming of Non-Fungible Tokens or NFTs.

In the crypto space, Buterin is an active participant. He took to Twitter to analyze all the predictions for the crypto space that he had made in 2021. His tweets had also included his views on the adoption of bitcoins. He had also predicted the direction that regulations would take in this space. Here again, he admitted that he had erred in his assessment of ETH’s proof of stake (PoS).

Buterin was also candid in his admission that he had been optimistic about the prospects for altcoins and the cryptocurrency bitcoin cash (BCH). He revealed that he considered BCH to have failed. He attributed its failure mainly to the community’s rebelliousness.

In his tweets, he said that communities form around a rebellion. This was in the context of the failure of BCH. He tweeted that rebellions might have a good cause, but they come to grief in the long term. This is because they put bravery above competence. Such rebellions normally come together to resist but do not work together to find a way forward.

Buterin is the youngest crypto billionaire in the world. He donated $ 1billion in crypto assets to India for its Covid-19 fight. He has, in addition, donated $1.5 billion in crypto coins, including ETH, to Indian charities. He has also donated to tech-focused charities and to institutes for research on machine intelligence.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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