The Ethereum white paper predicted DeFi but missed NFT: Vitalik Buterin

In the past ten years, Ethereum co-founder Vitalik Buterin has re-examined the predictions he has made over the years, demonstrating the correct handling of abstract ideas rather than the knack of producing software development problems.

Buterin started Twitter String In his article published on July 23, 2013, he emphasized Bitcoin’s (Bitcoin) Main advantages-internationality and censorship resistance. Buterin foresaw the potential of Bitcoin in protecting the purchasing power of citizens of countries such as Iran, Argentina, China, and Africa.

However, Buterin also noticed an increase in the adoption rate of stablecoins because he saw Argentine companies operating in Tether (USDT). He revolves around the negative impact of Bitcoin regulation to support his ideas ten years ago.

Entrepreneur is still Believe “The cost of each transaction on the Internet of Money should not exceed 5 cents,” and emphasizes Ethereum’s continuous efforts to improve the scalability of the blockchain.

“Before altcoins were cool, I liked altcoins,” Buterin added Quote In an article, he put forward this proposition through three arguments: different chains are optimized for different goals, the cost of owning many chains is low, and alternatives are needed to prevent the core development team from making mistakes.

On the other hand, Buterin gave up his support for Bitcoin Cash (Bitcoin cash), pointed out that communities formed around rebellions, even if they have a good reason, are often difficult to survive for a long time, adding that “they value bravery rather than ability, and unite around resistance rather than a unified direction of advancement.”

“A lot of correct (basically predicted “DeFi”), although the incentive file storage + calculation has not been achieved so much (yet?), of course I completely missed the NFT.”

When summarizing the findings of the survey, Buterin supported his intuition to help him correct mistakes as soon as possible. He said: “In terms of technology, I am more correct in abstract ideas than in production software development issues. Over time, I must learn to understand the latter. .”

related: Vitalik Buterin outlines the “endgame” roadmap for ETH 2.0

In early December, Buterin shared his vision for a “reasonable roadmap” for ETH 2.0, suggesting a “second-layer mortgage, low resource demand” for distributed block verification.

In addition, he proposed to introduce anti-fraud or ZK-SNARKS as a cheaper alternative for users to check block validity. According to Buterin:

“[With these updates] We got a chain where block production is still centralized, but block verification is trustless and highly decentralized, and special anti-censorship magic can prevent block producers from censoring. “