Vitalik Buterin Shares Crypto Analogy: Bitcoin Is A Pocket Calculator App, Ethereum Is The Smartphone
Russian-Canadian programmer and writer, Vitaly Dmitriyevich “Vitalik” Buterin, who is also the inventor of Ethereum, has expressed his thoughts that Ethereum has quite a few benefits more than Bitcoin (BTC) when both are compared. He said in an interview that Ethereum was born out of a need to improve on BTC, amongst other things.
The Creation Of Ethereum As A Step-Up To Bitcoin
Mr Buterin, in a recent interview, said that at the beginning, he was very fond of and very enmeshed in Bitcoin and its industry. He noticeably partook and made commendable contributions in the Bitcoin industry while actively putting in work into many different cryptocurrency developments for two years. After this, he then made the decision to leave the university and then got totally engaged in actions that directly impacted the growth and development of blockchain technology.
After doing this for a while, Buterin understood Bitcoin a bit more and came to the understanding that there was opportunity for Bitcoin to grow and develop significantly. He also noted that Bitcoin had amazing potential to morph into something more reliable.
However, instead of just developing Bitcoin, he made the decision to create a new and more proficient blockchain. This is how Ethereum was birthed, creating a lot more opportunities for its users.
“Soon after (dropping the university) I started to realize there were a lot more interesting things that you could do with blockchains than just a single peer to peer currency. And it was something that other people were starting to recognize at the same time. I came up with the idea behind Ethereum; this idea that blockchain was a built-in programming language as kind of what I thought was the simplest and most logical way to actually build a platform that can be used for many more kinds of applications”.
Describing The Difference Between Bitcoin And Ethereum
Explaining the difference between Bitcoin and Ethereum, Buterin compared Bitcoin to a pocket calculator and described Ethereum as a smartphone. He used this to illustrate that even though Bitcoin is quite the efficient framework on its own, Ethereum gives its users a lot more options and because it has more capabilities.
His explanation says:
“Think of the difference between something like a pocket calculator and a smartphone, where a pocket calculator does one thing and it does one thing well. But really, people want to do all these other things. And if you have a smartphone, then you have a pocket calculator as an app, you have a music player as an app, you have a web browser as an app, and pretty much everything else. So basically, taking that same kind of idea of increasing the power of the system by making it more general purpose and applying it to blockchains.”
Other Ethereum News
It is no longer news that Ethereum has successfully achieved and executed its long awaited Constantinople upgrade, an upgrade that up until recently, was though impossible by many stakeholders. With this upgrade, Ethereum is well on its way to a much faster, very scalable and more capable blockchain, – ETH 2.0 – executing as many as 1 million transactions per second.