ETH White Paper Made the Right DeFi Prediction but Missed NFTs
Vitalik Buterin, the co-founder of ETH, recounted all his previous year predictions, presenting his skills of giving out the right result about the on-production development of software issues.
In his Twitter thread, Vitalik shared his article written on 23rd July 2013, highlighting the benefits of BTC, along with censorship and international resistance. Moreover, he predicted the ability of Bitcoin to protect the buying power of citizens in countries like Africa, China, and Argentina.
He also witnessed the rise of adopting stablecoin after the operating of Tether by businesses in Argentina; this was also backed by his past claims on the negative impact of Bitcoin regulation.
According to Vitalik, the overall cost of the internet should not be more than 5 cents on every transaction done. It also highlighted how ETH is improving the overall scalability of the Blockchain.
He further mentioned that he liked all altcoins claiming different optimization of chains used for fulfilling different goals, coasting of different chains, and need to have a core case, development team.
However, he backtracked about his support for the BTC, stating communities based upon the rebellion, having a good cause, and having quite a difficult time in the long term process. He further mentioned that there is a lot of correction needed, and thanks to the file storage system incentivized along with the compute are yet to take off.
Buterin is quite supportive about his predictions helping him to correct all his earlier mistakes and bringing out some abstract ideas. In the month of December, Buterin presented the ‘plausible roadmap’ for the ETH 2.0, also suggesting second-tier staking having requirements of the low resource. He further proposed to introduce ZK-SNARKS, serving as the alternative option for block validity.