Vitalin Buterin admits mistakes made when creating Ethereum (ETH)

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

Ethereum’s creator invited his Twitter followers to ask him any question in the day yesterday. The contributions poured in, and they revolved a lot around the history of Ethereum. For example, the Osmosis co-founder asked Vitalik Buterin about his biggest regrets :

Vitalik Buterin confirmed that “the whole 8 cofounders thing ” was his biggest regret. He explains that he wished he hadn’t picked 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. You can’t expect them to all sit in a circle and collaborate […] especially when there are huge reward conflicts involved.

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

Vitalin Buterin also explained that he was confident 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.

More on the development of Ethereum 2.0

The transformation of the Ethereum network

Vitalik Buterin also explained that he did not anticipate some of Ethereum’s changes, which have come about as the network has found a growing audience. He confirms that he was most surprised by the development of NFTs, as he had not anticipated this use case to grow to such an extent.

Furthermore, the Ethereum co-founder 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 think much more about the discussion ecosystem, to the spread of memes/culture / ideas. This field follows very different laws from the other!

Proof of this came in this short exchange with an Elon Musk who couldn’t help but ask Vitalik Buterin a question in the form of a meme:

As for whether Vitalik Buterin could project himself onto another cryptocurrency in the future, the answer was short but sharp:

Watch our interview with Vitalik Buterin

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About the author: Marine Debelloir

Vitalin Buterin admits mistakes made when creating Ethereum (ETH)

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Deputy Editor-in-Chief on Cryptoast, I fell into the crypto-currency pot a few years ago. I’m passionate about the innovative technologies that come from blockchain and I love digging up the juiciest news to share with you.
All articles by Marine Debelloir.