Blockchain Cryptocurrency News Ethereum

Ethereum’s [ETH] Vitalik Buterin to Elon Musk: Programs that should be developed on Ethereum

Elon Musk, the face of Tesla and SpaceX, has always been a prominent figure in the cryptocurrency space. The founder of The Boring Company has publicly expressed his opinions on Bitcoin [BTC] and other cryptocurrencies in the market on several occasions. Musk also revealed that he held 0.25 BTC, which was sent by a friend, stating that Satoshi Nakamoto deserves a Nobel Prize, resulting in the entire Bitcoin community rejoicing over Musk joining the bandwagon.

Notably, Bitcoin was not the only cryptocurrency to grab Musk’s attention; digital currencies like Ethereum and Dogecoin were also on his list. Earlier today, the Tesla CEO was spotted commenting on the second-largest cryptocurrency and leading smart contract platform, Ethereum [ETH], on Twitter.

Musk’s initial Tweet stated,

The tweet soon attracted the attention of a majority of the cryptocurrency space, including Vitalik Buterin, the creator of Ethereum, who went on to invite Musk to Ethereum’s Devcon, which would be held in October 2019. Even Justin Sun, the Founder of Tron Foundation, went on to Tweet “Tron” and “BitTorrent” on the same thread.

Musk ignored Sun and replied to Buterin stating, “Stop giving away free ETH! 🤣🤣“.

Nevertheless, this was followed by Musk asking Buterin, “What should be developed on Ethereum?”, resulting in Buterin listing five use-cases.

Buterin stated,

“My top picks (1): * A globally accessible financial system, including payments, store of value, also more advanced stuff like insurance  * Identity: “sign in with Facebook” -> “sign in with an ethereum account, no intermediaries”. Also web of trust…”

Source: Twitter

Source: Twitter

He further added,

Musk has spoken about Ethereum [ETH] several times now. However, the very first topic was related to spam-bots on Twitter, which also led to the “Not giving away ETH” campaign on social media. Scammers used to mimic the social media handles of cryptocurrency influencers on different social media handles, including Twitter and Telegram.

This would be followed by them claiming to “giveaway ETH” or any other digital currencies, which would be completed after users sent a specific amount of crypto first to a specific address. Basically, the scammer would ask a user to send ETH to an address, claiming that he/she would send back more ETH, resulting in several members losing their funds.

On this, Elon Musk had stated,

“I want to know who is running the Etherium scambots! Mad skillz.”

Ethereum’s [ETH] Vitalik Buterin to Elon Musk: Programs that should be developed on Ethereum

I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

Leave a Reply

Your email address will not be published.