Vitalik on The DAO, Ethereum, and NFTs in New Interview

In a recent podcast interview with The Stakeborg Talks, Ethereum co-founder Vitalik Buterin spoke candidly about a range of issues, including his early interest in mathematics and problem solving, the potential of decentralized autonomous organizations (DAOs), and his Perspectives on the Bitcoin community and the non-fungible token (NFT) space.

Buterin, a humble entrepreneur and passionate about his profession, referred to himself as a philosopher of technology in response to a question about his preference for professional titles, which is perhaps how he coined the term.

Citing the Athenian historian Thucydides' famous saying of scholar and warrior, Buterin analyzes the shifting dichotomy between the progressive tenets of the tech industry and the abstract spaces opened up in philosophy for thought leaders.

When asked if we would see Ethereum overtake Bitcoin not only in price value, but also as a store of value asset, he simply replied “likely” before expanding on his point:

“I think the biggest difference between Ethereum and Bitcoin is that Bitcoin is a platform whose ecosystem value comes from the value of BTC, whereas in Ethereum, the value of ETH comes from the value of its ecosystem.”

The highly anticipated London hard fork upgrade of Ethereum in mid-August is enhancing the network's transaction payment system, mainly in terms of transaction fees and miner revenue. Citing this, Buterin continued from the aforementioned conversation:

“Especially with the introduction of EIP 1559, when you burn fees, in a more immediate economic sense, it becomes a reality.”

In September, Buterin was named to Time Magazine's 100 Most Influential People of 2021 list for his integral role in growing the Ethereum network to a market cap of over $400 billion. There have also been other recognitions for leaders in the DeFi and NFT space.

Referring to the rise of decentralized autonomous organizations, especially the development of models such as quadratic voting and financing, Buterin outlined the Gitcoin DAO and Optimism retroactive public goods experiments as examples of projects with a growing landscape.

When asked if DAOs could be the next step in the cryptocurrency ecosystem following the success of decentralized finance and non-fungible tokens, Buterin said:

"I think DAOs will definitely become more important over time... In terms of what's missing in the DAO space, I don't think there's anything big missing, but more of a lot of small things. What When will a DAO decide for the first time to create a strategic hub, or when two DAOs decide to merge? It's the ability to make a big decision, not just grow on the same path, and I think that's what we Will see soon."

Finally, commenting on the meteoric rise of the NFT space, Buterin shared some insights on new users being attracted to the asset:

“I think NFTs are interesting from a cultural standpoint because they bring people into Ethereum with a completely different mindset than DeFi and normal crypto people.”

Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.