Vitalik Buterin: We Should Extend An Open Hand to Facebook

Speaking at the Ethereal Summit in Tel Aviv on Sunday, Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term founders Joseph Lubin and Vitalik Buterin commented on the development of the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term system's upcoming update.

The two executives did not give a precise date as to the launch of Ethereum 2.0 but said that the network would be interoperable with applications built on the original blockchain.

"[Ethereum 2.0] is an updated version of the same vision," said Buterin. "It's a sandbox where people can try things and see what works. The thing that has changed are the tools we use."

"An excellent onboarding mechanism"

Ethereum co-founder and ConsenSys CEO Lubin also discussed the possibility of working with Facebook on the social media company's nascent cryptocurrency - Libra.

"There's definitely been some talks," said the ConsenSys CEO. "There's the possibility of interoperability with Ethereum if there's a viable wallet connection. But I don't see [Libra] being a viable competitor to Ethereum as a decentralized [financial system]. Actually, it could be an excellent onboarding mechanism for us."

Despite having remained silent earlier in the discussion when asked about Libra, Buterin was also positive about the cryptocurrency, saying that Ethereum should work with Facebook.

"There's definitely people looking at making a Libra Litecoin that runs on the Ethereum blockchain," said Buterin. "I think we should extend an open hand to systems that are more decentralized than we would like."