Immediately after the ‘splash’, Musk’s Ethereum founder ‘poured cold water’ on Zuckerberg and Dorsey-Digital Currency/Blockchain

Ethereum (Ethereum) co-founder Vitalik Buterin (Vitalik Buterin) today reported that Facebook CEO Mark Zuckerberg and Twitter CEO Jack Dorsey (Jack Dorsey) presented figures that criticized Cryptocurrency projects, saying they simply can’t realizing it. their plans.

Dorsey said last month that its digital payment company Square would launch a Bitcoin-based “Decentralized Finance” (Defi), which would provide Bitcoin with Defi, unregulated, and unregulated services.

Buterin said in today’s interview that while Bitcoin is the world’s leading digital cryptocurrency, it does not have these functions. He said, “There is a local functionality on the Ethereum network that allows you to put assets based on ETH or Ethereum directly into these smart contracts. As for how to release these assets, you can set arbitrary conditions.” In contrast, the Dorsey Plan must essentially create its own system to enforce these rules.”

Recently, interest in Defi has increased, promising to rock financial services by removing middlemen and centralized supervision. Among the hundreds of projects launched, the Ethereum-based Defi app has proven to be the most attractive. Bitcoin Defi, however, may benefit from the “Taroot” update released later this year.

In addition to questioning the Dorsey Defi project, Butlin is also suspicious of Zuckerberg’s plans for cryptocurrency. Zuckerberg plans to launch a cryptocurrency for Diem (formerly known as Libra), which could become part of the world of “metaverse” that Zuckerberg envisioned.

Zuckerberg’s “metaverse” aims to create a “virtual world” that uses virtual reality (VR) and augmented reality (AR) technologies to more closely connect digital and physical infrastructures. Facebook hopes to develop a mature economy in this way and achieve interoperability between applications and services.

Butlin stated that the purpose of the Zuckerberg metaverse is “to go in different directions in other parts of the world, and Facebook is somewhat behind,” to predict the future development of the Internet, but because Facebook has a lot of “unreliable” records, the company must Switching to the current blockchain technology.

Patlin also added that within 10 years, he hopes that Ethereum will be able to dominate the “metaverse” realm.

This is not the first time Buterin has poured cold water on the digital currency plans of billionaire executives. In May this year, Tesla CEO Elon Musk said that “Dogecoin” (Dogecoin) should speed up the blockchain and increase network capacity by 10 times. Later, Butlin said that the idea of ​​expanding Dogecoin had “fundamental flaws”.

Adding parameters sounds very attractive at first: If you do the math on a napkin, you can easily convince yourself that your home laptop can handle thousands of transactions per second, without the need for ZK-SNARK or aggregation or hashing. Unfortunately, This method is fundamentally flawed, and there are many subtle reasons for this.”

Musk responded on Twitter that Patlin was “afraid of Dogecoin”.