Vitalik: "think of BTC like a pocket calculator, and ETH like a smartphone"

02 Mar, 2019
by Alberto Arnaldo
Opinion
Vitalik: think of BTC like a pocket calculator, and ETH like a smartphone

On a recently published interview with Business Insider, Vitalik Buterin, Ethereum’s co-creator, shared some of his views regarding the second crypto by market cap and also went on to explain how he first got into cryptocurrencies.

Vitalik explained how he got into the Bitcoin space, “back when it was just called the Bitcoin space in 2011”. His first steps into the community was co-founding the online and print Bitcoin magazine, and later dropped out of university to join the space full time.

That was the breaking point for Vitalik to realize of the possibilities in expanding the uses of cryptocurrency, and then decided to create Ethereum with the idea of a “blockchain with a built-in programming language”.

To the question of what was the biggest issue of Bitcoin that he is trying to solve with Ethereum, Buterin considers that it is about Bitcoin's limited functionality: “think of the difference between a pocket calculator and a smartphone: where a pocket calculator does one thing well, people want to do all these other things as well, so if you have a smartphone you have different apps, including a calculator”. Vitalik summed up the point of Ethereum's creation as “increasing the power of the system by making it more general-purpose, and applying it to blockchain”.

Read more: What is Vitalik Buterin's cryptocurrency net worth?; 'XRP is better than Bitcoin’ says co-founder of Ethereum, Vitalik Buterin

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