Ethereum is big enough to continue with or without me says Vitalik Buterin in Argentina.
This Tuesday, Vitalik Buterin, the founder of Ethereum, participated in the “AskVitalikBA” conference that took place in Argentina. On the occasion, Vitalik expressed his beliefs about cryptocurrencies as well as political issues.
According to his views Proof of Stake (PoS) model is more efficient and less vulnerable to censorship. Furthermore, he also stated that Ethereum would continue to grow even if he disappeared for some reason.
Finally, Vitalik praised the Argentine people and criticized the government saying that the state is incapable, unlike its people. Furthermore, he also mentioned the importance of cryptocurrencies in small countries, which are the real pillars of the crypto sector.
When asked what will happen to ETH if you disappear he said:
“Ethereum will exist with or without Vitalik Buterin.”
One of the main differences between the current two largest cryptocurrencies in the world is linked to their founders. While Satoshi Nakamoto, creator of Bitcoin, disappeared and is no longer connected to the project, Ethereum remains heavily dependent on Vitalik Buterin.
While his vision and command are now extremely critical to Ethereum, Vitalik said the project could continue to grow even if he were to disappear.
“I think the Ethereum community is big and even if I disappear for some reason, it will remain a big blockchain but Obviously I am not going anywhere.”
The question might come in the context of fake news in 2017 that claimed that Vitalik had died that caused the price of ETH to drop around 30% in just a few hours.
Vitalik also took the opportunity to defend the Proof of Stake (PoS) saying:
“I believe Proof of Stake is much more resistant to censorship than Proof of Work.”
According to Ethereum creator, it is more difficult for governments to censor PoS participants but as PoW consumes a lot of energy and mining equipment it becomes easier for governments to find such Pow participants as happened in China.
Looking forward to migrating to PoS next year, Vitalik also commented that scalability is the current big challenge. He noted that if any protocol becomes too centralized, it is also considered a failure.
Crypto in emerging countries like Argentina
Vitalik Buterin’s visit to Argentina caught the attention of the entire crypto community, all tickets were quickly sold out to see and meet Vitalik, reinforcing his importance both in Ethereum and in the industry in general.
About the use of cryptocurrencies in Argentina, and similar economies, Vitalik highlighted that in such economies population is able to use cryptocurrencies to solve problems such as inflation and self-oriented bureaucracy.
“I think the difference between here [Argentina] and some of the richer countries is that while both have people excited about cryptocurrencies, people here deeply understand that this is something that is solving real problems for them,” said Vitalik Buterin, founder of Ethereum.
Although many look at the crypto decisions taken by great powers like the U.S and China, the real focus that the crypto community needs to have is on small countries, as they are likely to lead this revolution like El Salvador.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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