Ethereum has emerged as arguably the most promising and successful crypto project after Bitcoin. ETH now has more applications than most, with continuous improvement being a part of the process. However, CEO Vitalik Buterin said in a tweet on Wednesday that Ethereum can also be used as “a plain old cryptocurrency.”
Ethereum has a lot of promising applications, but you can use ETH as a plain old cryptocurrency too. It works great. https://t.co/2E31a354Jl
— vitalik.eth (@VitalikButerin) March 31, 2020
In an earlier tweet, Buterin had stated that he had paid ETH for dinner in a restaurant a month ago before the lockdowns against Coronavirus pandemic were imposed. In the following instance, he said,
“Next step in improving Ethereum’s privacy: some clean easy-to-use stealth-address-like scheme to send coins to an ENS name without publishing to the world that they got coins.”
Ethereum is one of the biggest blockchain networks in the world, with a market cap of over $14.6 billion, second only to Bitcoin’s $116 billion. In recent times, especially since the outbreak of COVID-19, cryptocurrencies have been viewed as an alternate mode of payment to traditional money more seriously than ever. Therefore, it is only understandable need Buterin felt to emphasize on the fact that ETH is still very much a potent peer-to-peer payment tool.
In fact, the company is making an apparent effort to strengthen Tornado Cash, a privacy-focused payments platform based on Ethereum, which will attract users who don’t want their transactions and balances to go public for block explorers. You can learn more about this here.