An Interview with Vitalik Buterin: Founder of Ethereum

An Interview with Vitalik Buterin: Founder of #Ethereum

  • He cofounded Bitcoin Magazine in September 2011, and after two and a half years looking at what the existing blockchain technology and applications had to offer, wrote the Ethereum white paper in November 2013.
  • Q: When did you first have the impression or idea about Ethereum?
  • Q: How will Ethereum will be governed in future?
  • Q: Should Ethereum have a built-in governance structure like dash?
  • Q: What are the biggest organizational challenges for the Ethereum Foundation this year?

Vitalik is the creator of Ethereum. He first discovered blockchain and cryptocurrency technologies through Bitcoin in 2011, and was immediately excited b…

@Anne_Connelly: An Interview with Vitalik Buterin: Founder of #Ethereum

A: That’s a complicated question; built-in governance structures have benefits but they also have hidden costs. For example, if you take a Dash/Tezos-style coin voting governance model and enshrine it as a social contract, then you are also creating an expectation that anything that this governance model outputs is legitimate. Expands issuance by 5x and gives it to a coalition consisting of 60% of token holders? Sorry, the 60% voted for it. One guy bribes the voters (note that bribing can take some quite realistic indirect forms, eg. running an online wallet that provides users convenience but votes on their behalf) and makes a change that benefits themselves? Hey, vote results are vote results. So IMO the social contract in any blockchain must necessarily be at least to some extent subjective.

A: That’s a complicated question; built-in governance structures have benefits but they also have hidden costs. For example, if you take a Dash/Tezos-style coin voting governance model and enshrine it as a social contract, then you are also creating an expectation that anything that this governance model outputs is legitimate. Expands issuance by 5x and gives it to a coalition consisting of 60% of token holders? Sorry, the 60% voted for it. One guy bribes the voters (note that bribing can take some quite realistic indirect forms, eg. running an online wallet that provides users convenience but votes on their behalf) and makes a change that benefits themselves? Hey, vote results are vote results. So IMO the social contract in any blockchain must necessarily be at least to some extent subjective.

An Interview with Vitalik Buterin: Founder of Ethereum