What Bitcoin can learn from Ethereum according to Vitalik Buterin

Last week, Vitalik Buterin, the founders of Ethereum (ETH), took to Twitter to talk about his crypto network as well as Bitcoin (BTC). He did this with the well-known influencers Eric Wall and Udi Wertheimer. Yesterday we already wrote that he thinks Bitcoin Ordinals is a nice development. He thinks that people should experiment with Bitcoin, and not just see it as a payment system. Perhaps those experiments will come sooner than expected and from an unexpected angle.

Bitcoin is slow

More than 32 thousand people listened to the conversation between the three. The main thrust of the conversation was what Bitcoin can learn from Ethereum. Perhaps the biggest obstacle for Bitcoin is its very slow transaction speed. It only processes seven transactions per second.

The mainnet of Ethereum does not process very many anymore, but wants to change that through sharding. Ethereum also enables so-called layer-2 options. By means of protocols such as Arbitrum and Optimism, the Ethereum network processes many more transactions per second. Buterin believes that Bitcoin could also benefit from such ‘layer-2’ options.

However, Bitcoin already has the Lightning Network. This is a layer-2 solution that enables hundreds of thousands of transactions per second. For example, El Salvador, the country that introduced Bitcoin as legal tender in 2021, uses the Lightning Network. In addition to the Lightning Network, however, it is very quiet on the Bitcoin network.

Read Also:  World First: Dutch carbon crypto company breaks open the billion-dollar market

Bitcoin and AI

However, that too may soon change, namely through artificial intelligence (AI). News of another Bitcoin ‘experiment’ also emerged this week. Lightning Labs, a company working on the aforementioned Lightning Network, has a striking plan in development. It is working on a protocol that may combine Bitcoin with AI.

Should this plan actually take off, it is possible that AI will soon be able to store, send and receive bitcoin autonomously. It is also possible that AI will start working on the network itself in the future and may be able to build on Bitcoin. This news also echoes an essay that former BitMEX CEO Arthur Hayes posted on the internet last week. Hayes believes that AI will choose Bitcoin as its financial ‘lifeblood’.

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here