Elon Musk Tweets Vitalik ‘What Should Be Developed on Ethereum?’ April 30, 2019 April 30, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsApril 30, 2019 by Kelly Cromley

Elon Musk Tweets Vitalik ‘What Should Be Developed on Ethereum?’

Tech savvy businessman and SpaceX and Tesla’s CEO, Elon Musk, initiated a discussion on April 29 with ether (ETH) co-founder Vitalik Buterin using a crisp one-word tweet “Ethereum.”

The tweet garnered massive interest (at the time of this post it had 73,296 likes), and soon after it was posted, people came to understand that Elon’s tweet obviously had a significant impact on the ETH price.

Seven minutes later, Elon issued a tweet that indicated he was kidding though it didn’t sound as though he was, and it became apparent a little afterward.

The tweet, which Musk quickly turned into an irony by putting “jk” to the very same comment chain, spurred Buterin to send out a DevCon 5 invitation to Musk for Ethereum in October.

In reaction, Musk questioned Buterin, “What should Ethereum develop?” Buterin cited five of his highest level network picks, filled with links to his own previous Twitter posts and Ethereum studies.

Of these was the the development of a “globally accessible financial system, including payments, value store[…] insurance,” and a disintermediated digital identity network driven by ETH.

Buterin also suggested the development of digitally signed, certified, and perhaps even repealed on-chain databases and certificates — which Buterin had earlier marketed as component of a self-described series of tweets on non-financial blockchain apps in December 2018. He also made reference to the use of ETH blockchain to “experiment with new forms of human organizational structure,” and to allow micropayment use situations through ETH payment channels.

Buterin’s other suggestions include crypto-powered “markets for privacy-preserving machine learning” and “cryptoeconomics for spam prevention in social networks.” Buterin finally mentioned that blockchain can be a launching pad for “new market designs, eg. Regular batch auctions, combinatorial auctions, automated market makers,” and that innovation can influence disadvantaged social groups’ individuality, credibility and loan systems, and even build distributed DNS alternatives.

Unlike Buterin’s long communication with Musk’s lead-in, other blockchain developers— like Tron Foundation CEO Justin Sun — reacted in style with their own single word catchphrases. Brendan Blumer, Block.one’s co-founderand CEO (who created the EOSIO software running on the EOS platform) mentioned that Elon should take into account developing apps on EOS platform.

Musk only responded shortly with an reference to Buterin’s official Twitter handle, “Vitalik Non-giverof Ether,” gently nudging Vitalik to “Stop giving away free ETH!” Meanwhile, EToro analyst Mati Greenspan forecast that Musk’s one-word tweet supposedly spurred a mini spike in Ethereum’s price. Musk lauded Bitcoin’s (BTC) structure as “quite brilliant,” yet underlined the coin’s troublesome energy usage. The Tesla founder declared he holds only a small portion of BTC, supposedly sent by a friend several years back.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.