Vitalik Buterin, co-founder of Ethereum, the second largest cryptocurrency, expressed his interest in decentralized autonomous organizations (DAOs) in a recent interview with The Stakeborg Talks, and also talked about his perspective on Bitcoin and NFTs.
Buterin, who described himself as a “modest entrepreneur”, stated that he also saw himself as a “philosopher of technology”.
When asked during the interview whether Ethereum could outperform Bitcoin, not only in terms of price, but also as a store of value, Buterin said it could be “possible”.
“I think the biggest difference between Ethereum and Bitcoin is that the value of the Bitcoin ecosystem comes from the value of the currency, while the value of the currency in Ethereum comes from the value of the ecosystem.”
Buterin, referring to the London hard fork in Ethereum in August, improved transaction fees, miner revenues and the network’s payment system; “especially after EIP 1559, with transaction fees burning, it has a direct impact on the economy.” said.
In September, Buterin was named Time Magazine’s 100 Most Influential People of 2021 for his success in achieving Ethereum’s market cap of more than $400 billion, apart from the accolades he garnered in DeFi and NFT.
When asked if, after the success of DeFi and NFTs, Buterin would be the next sector to come to the fore in the cryptocurrency ecosystem, Buterin said:
“I think DAOs will definitely become more important over time… Looking at the features that are still missing in the DAO space, I think there are only minor factors. I think we will see the development of DAOs very soon.”
Finally, commenting on NFTs, Buterin stated that he thinks NFTs are culturally “interesting” because NFTs bring a group of people who have a completely different mentality from DeFi and who are outside the standard profile in the cryptocurrency space to Ethereum.
*Not investment advice.