Cryptocurrency and the Struggle to keep up

Things happen very fast in the world of cryptocurrency development. We have come to take the Ethereum blockchain and ERC20 tokens for granted these days; after all, this is the most active cryptocurrency network in the world, so it is a bit hard to believe that it was not around in 2014.

In 2014, Ethereum co-founder Vitalik Buterin attended a financial technology conference in Hong Kong, and he gave an interview that was recently unearthed by various news outlets. This interview unfolded just a couple of years after Buterin worked as an editorial writer for Bitcoin Magazine. As a result, he gave the crypto community more understanding of the technology and network development.

In the interview, Vitalik Buterin talked about the ideas that shaped the advanced Ethereum network, the importance of smart contracts, and the development of the ETH platform, which he did not particularly endorsed as means to generate a profitable digital currency or a trading community.

However, he noted that this blockchain-based cryptocurrency was going to change the world in a way that traditional finance cannot. While Buterin was not trying to predict the future, he provided some insight into the problems that cryptocurrency networks were going to solve. Buterin has ceded to the Ethereum community because public governance is part of the protocol, but his idea was more along the lines to create peer-to-peer networks that provide grid computing functionality.

Buterin emphasized that people who are not a part of the community have a distorted view of the network, which leads to people who want to try out their own ideas using the cryptocurrency network. This community is a new platform that can solve many problems in the world. This network allows people to use smart contracts to create an open source code that is used to facilitate transactions. The community is working to create the financial tools for an open source platform. They have a vision that they are building an infrastructure that is going to provide for a world where people can work together.

This open-source project allows for a new development environment. But, Buterin also stated that this community did not always have a good understanding of the protocol. As a result, he said that the community was not developing the protocol that it needs to be successful. Therefore, there has been conflict, and the community is still going to continue to struggle to find a way to make the network more sustainable.