Ethereum Co-Founder Eyes Bridging Network Gap with Bitcoin for Greater Capabilities

Ethereum Co-Founder Eyes Bridging Network Gap with Bitcoin for Greater Capabilities

Ethereum’s co-founder, Vitalik Buterin has voiced concern over the absence of synergy between the two largest networks on the market, Ethereum and Bitcoin.

In a tweet on March 24, he described as embarrassing the lack of free flow between the two networks and suggested working out ways to close the gap by developing a decentralized exchange (DEX). This would act as a link between the two networks.

“We should put resources toward a proper (trustless, serverless, maximally Uniswap-like UX) ETH <-> BTC decentralized exchange. It’s embarrassing that we still can’t easily move between the two largest crypto ecosystems trustlessly.”

Buterin explained the plans for the DEX as a model comparable with Uniswap, an automated exchange of tokens on Ethereum. It is an automated, decentralized exchange that uses pairs of Ether, rather than running an order book.

Decentralized Exchange Bridging Network Gap Between BTC and ETH Might Change the Game

A DEX that bridges the gap between Bitcoin and Ethereum could be a serious game-changer for decentralized exchanges, especially as its general inadequacy in liquidity has long stifled their market share.

Buterin has also suggested interoperability with other networks besides Bitcoin. He hopes many more will be bridged over the DEX with time.

According to Buterin, Zcash might just be the next onboard network. The co-founder of Ethereum says he is already in talks with Zooko Wilcox, the CEO of the Electric Coin Company.

Buterin expressed his support for privacy coins earlier this month, saying they will be a better option for people than digital currencies in the central bank (CBDC).

Cryptolydian reported last month, Ethereum Network Co-Founder Buterin said on his twitter account that Bitcoin (BTC) is different from Bitcoin Cash (BCH).

“I consider BCH a legitimate contender for the Bitcoin name,” Buterin tweeted on Nov. 13, 2017. “I consider bitcoin’s *failure* to raise block sizes to keep fees reasonable to be a large (non-consensual) change to the ‘original plan’, morally tantamount to a hard fork.”

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.