Discover Ethereum co-creator Vitalik Buterin‘s advice to Bitcoin enthusiasts. In an interview, he stresses the importance of experimentation to improve Bitcoin’s scalability and encourages the community to embrace “build culture“. Explore the debate around Ordinals and the prospect of a necessary evolution for the largest cryptocurrency.
In a lively dialogue during a Twitter space organized by Taproot Wizards, Ethereum co-creator Vitalik Buterin shared valuable advice with Bitcoiners, sparking thought about whether we can learn lessons from Ethereum to improve Bitcoin. Accompanied by enthusiastic Bitcoin Maximalist Eric Wall and Bitcoin developer Udi Wertheimer, they dove into the tricky scalability debate of the largest cryptocurrency.
Vitalik Buterin invites Bitcoiners to embrace a construction mentality!
With its current capacity to process just 7 transactions per second, Bitcoin lags behind other blockchains. By comparison, Ethereum can handle up to 30 transactions per second, and a future update promises to increase this threshold to 10,000 TPS. Meanwhile, Solana (SOL) can process up to 50,000 transactions per second.
The question then arises: how can Bitcoin’s scalability be improved? According to Vitalik Buterin, the key lies in experimentation. He points to the philosophical differences between the two networks, claiming that Bitcoin is limited by conservative policies that hinder innovation and rapid development. He believes that to evolve in terms of scalability, Bitcoin will have to adopt solutions such as Plasma or ZK Rollups, which enable layer 2 solutions.
Vitalik Buterin’s optimism lies in the rebirth of Bitcoin’s “build culture“, symbolized by the advent of Ordinals. He sees this development as proof that the Bitcoin community is rebelling against the “maximalists” who see Bitcoin solely as a payment network. In his view, the success of Ordinals marks a major turning point, demonstrating that Bitcoin must evolve if it is to be adopted by as many people as possible.
Vitalik Buterin therefore invites Bitcoiners to embrace a mentality of experimentation and construction, stressing that Bitcoin’s evolution is essential for its widespread adoption. The idea that Bitcoin is solely a payment network is outdated, according to the co-creator of Ethereum. However, this perspective is not unanimous within the Bitcoin community, where the debate surrounding Ordinals is still divisive, and where the proponents of “maximalism” have not said their last word.
Bitcoin’s future is in the hands of its community, and the challenge is to strike a balance between innovation and preserving the fundamental principles of the pioneering cryptocurrency. With the influential voice of Vitalik Buterin pushing for experimentation, the road to a promising evolution is mapped out. Only time will tell whether Bitcoin will embrace change to reach new heights in the cryptocurrency landscape.