As the world grows familiar with the game-changing capabilities of cryptocurrency, the general public has been eager to learn about the differences that set each coin apart from its competitor. Ethereum Co-founder Vitalik Buterin reached out to crypto lovers to explain the conception and applications of the Ethereum coin and network.
When talking about what Ethereum offered, Buterin said,
“It offers all the things that Bitcoin [BTC] does, but it also offers this extra feature, which is the programmability.”
The entrepreneur also mentioned that he got the idea for Ethereum while working for MasterCoin [MC], which was focused on the use-cases for financial derivatives. He said,
“At first, we (Ethereum team) basically took the MasterCoin idea and attempted to generalize it more.”
He also added that consequentially, it provided the tech ecosystem with an opportunity to “use blockchain for things that don’t have to do with currency itself such as key revocation”. Buterin also stated that the earliest version of Ethereum was to enable general purpose financial contracts. He added,
“Instead of saying here are the 10 different things you can do, here is a programming language that allows you to do whatever you can write.”
He further admitted that most of the current applications working on Ethereum network emerged from the community itself and were not his ideas. Additionally, Buterin also conceded that creating a cryptocurrency was not a part of his agenda, but was instead, an extension of the idea.
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