Ethereum Founder Vitalik Buterin Focuses on Bitcoin.
Ethereum co-founder Vitalik Buterin has taken a deep dive into the long-debated topic of Bitcoin’s (BTC) block size wars.
Buterin has stepped outside his comfort zone and tackled a concept he calls the “one-sided sufficiency trap.” The term was inspired by reviews of two books written about Bitcoin’s block size wars. Buterin’s goal is to share his insights to help users avoid falling into this trap.
Buterin used a political analogy where there are two distinct groups: those in power and those trying to seize power. Those in power are often seen as authoritarian, while the opposition is criticized for not having enough power to implement real changes.
According to Buterin, the #Bitcoin blockchain is often failing to deliver the hoped-for innovations it has. He also notes that efforts to create alternative chains like Bitcoin Cash (#BCH ) have been nearly ineffective.
Buterin emphasizes that in order to overcome such problems, the opposition must recognize the fundamental problems and produce deliberate solutions. He also believes that the basic operational principles must be restored for a blockchain that will provide real competition with traditional payment systems.
Buterin notes that, despite being aware of Ethereum’s own challenges, unlike Bitcoin, Ethereum has a more proactive developer community and is working to create better alternatives in the wider blockchain world.
In particular, Ethereum’s layer-2 scaling solutions provide significant improvements in fees, while alternative layer-1 networks such as #Solana , #Cardano , and #XRP Ledger are observed to improve usability features for a functional blockchain. Buterin emphasizes that these efforts are part of a broader effort to improve blockchain technology.