“Ethereum is big enough to carry on with or without me,” says Vitalik Buterin in Argentina.
Vitalik Buterin, the founder of Ethereum, participated in the “AskVitalikBA” conference in Argentina on Tuesday. Vitalik shared his views on cryptocurrencies, as well as political issues, on the occasion.
According to him, the Proof of Stake (PoS) model is more efficient and less vulnerable to censorship. Furthermore, he stated that Ethereum would continue to grow even if he disappeared.
Also Read: Vitalik Buterin Hits Out At El Salvador’s Bitcoin Adoption “Shame on Bitcoin Maximalists”
Vitalik praised the Argentine people and criticized the government, saying that unlike the people, the government is incapable. Additionally, he discussed the importance of cryptocurrencies in small countries, which are the real pillars of the crypto sector.
When asked what would happen to ETH if you disappeared, Vitalik replied:
“Ethereum will exist with or without Vitalik Buterin.”
One of the main differences between the two largest cryptocurrencies in the world has to do with their founders. Satoshi Nakamoto, creator of Bitcoin, has disappeared and is no longer associated with the project, but Ethereum remains heavily dependent on Buterin.
Despite his vision and leadership being crucial to Ethereum, Vitalik said the project will continue to grow even if he were to disappear.
“I think the Ethereum community is big and even if I disappear for some reason, it will remain a big blockchain but Obviously I am not going anywhere.”
In 2017, fake news claiming Buterin died caused ETH’s price to drop around 30% in just a few hours, causing the price to plummet.
In addition, He took the opportunity to defend Proof of Stake (PoS), saying:
“I believe Proof of Stake is much more resistant to censorship than Proof of Work.”
It is harder for governments to censor PoS participants, but as PoW consumes a lot of energy and mining equipment, it becomes easier for governments to identify such PoWparticipants as happened in China.
Vitalik also commented that scalability will be the big challenge for the migration to PoS next year. If a protocol becomes too centralized, it is also considered a failure.
Crypto in emerging countries like Argentina
Vitalik Buterin’s visit to Argentina caught the attention of the entire crypto community, all tickets to meet and see Vitalik were sold out quickly, thus reinforcing his importance both to Ethereum and to the industry in general.
He noted that, in Argentina, as in similar economies, the population is able to use cryptocurrencies to solve problems such as inflation and self-oriented bureaucracy.
“I think the difference between here [Argentina] and some of the richer countries is that while both have people excited about cryptocurrencies, people here deeply understand that this is something that is solving real problems for them,” said Buterin, founder of Ethereum.
Despite many looking at crypto decisions taken by great powers like the U.S. and China, the focus the crypto community should have is on small countries, as they are likely to lead this revolution like El Salvador.
