Phrase by 'Vitalik Buterin'
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You could imagine something like a completely automated system for renting bikes that's just done completely over blockchain crypto-payments. And theoretically just sort of start it up, and it works completely autonomously.
Author: Vitalik Buterin - Russian BusinessmanYou , Start , Something , Done
I think Bitcoin really feels empowering in a sense.
Author: Vitalik Buterin - Russian BusinessmanThink , I Think , Sense , Bitcoin
Bitcoin is great as a form of digital money, but its scripting language is too weak for any kind of serious advanced applications to be built on top.
Author: Vitalik Buterin - Russian BusinessmanMoney , Great , Serious , Language
I personally like hard forks. Particularly, I like the fact that they give users a measure of control, requiring them to opt in to protocol changes. Sure, they can be a little more chaotic if they're controversial, but that's the price of freedom.
Author: Vitalik Buterin - Russian BusinessmanFreedom , Hard , Control , Price
The technical side of Ethereum's efficacy is 100% an engineering exercise.
Author: Vitalik Buterin - Russian BusinessmanEngineering , Exercise , Side , Technical
I generally support just about every secession attempt that comes along. If, in the future, there is that kind of a dispute in Ethereum, I'd definitely be quite happy to see Ethereum A go in one direction and Ethereum B go the other.
Author: Vitalik Buterin - Russian BusinessmanHappy , Support , Future , Direction
I think people don't realise that running a piece of code that verifies some conditions for a financial transaction, that by itself is a lot less work than verifying a cryptographic signature, and so even if the virtual machine is inefficient, the cryptographic signature is still going to dominate.
Author: Vitalik Buterin - Russian BusinessmanPeople , Work , Think , Some
Scalability is this idea of coming up with a blockchain that can scale much larger than existing chains essentially by processing transactions in parallel. And moving away from this paradigm where every single node on the network has to process every single transaction.
Author: Vitalik Buterin - Russian BusinessmanProcess , Single , Moving , Blockchain
Initially, I thought that Ethereum was a thing that would be used for people to write simple financial scripts. As it turns out, people are writing stuff like Augur on top of it.
Author: Vitalik Buterin - Russian BusinessmanPeople , Simple , Writing , Thought
Blockchains will drop search costs, causing a kind of decomposition that allows you to have markets of entities that are horizontally segregated and vertically segregated.
Author: Vitalik Buterin - Russian BusinessmanYou , Will , Search , Drop
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