CZ Zhao acknowledges Vitalik Buterin’s pivotal role in crypto’s evolution

CZ Zhao has thanked Ethereum co-founder Vitalik Buterin for his vital contribution to the growth of the cryptocurrency industry in a post on X.

The former Binance CEO made the comments in response to a post that highlighted some of the key people who had a say in making the crypto space grow.

Zhao attributed Buterin to the wide scale of the blockchain industry. He relates to various things that the Ethereum co-founder helped develop, including the invention of smart contracts by Ethereum’s inception. Smart contracts are the lifeblood of the development of decentralized applications and platforms.

Buterin drives crypto growth and revolutionizes digital ownership

Buterin is also credited with devising another major standard, the ERC-20 token standard, which has enabled the launch of thousands of altcoins on the Ethereum network. The widespread and standardized use began a rapid cycle of growth for the crypto market and a framework for many blockchain projects.

Buterin also played a key role in changing the way we think about digital ownership with the emergence of non-fungible tokens (NFTs), defining the ERC-721 standard. NFTs have grown into a major asset class in industries ranging from art and entertainment to gaming and digital identity.

In his remarks, Zhao downplayed his own impact on the industry, humorously referring to himself as “a pleb still learning about blockchain.” Despite his modesty, CZ has been a key player in the crypto ecosystem, particularly through his leadership at Binance, which grew into one of the world’s largest cryptocurrency exchanges.

CZ recalls meeting Buterin and questioning Ethereum’s potential

Zhao also looked back at his first encounters with Buterin. He said he’d first met the Ethereum co-founder at a Bitcoin conference in 2013, a year before the launch of Ethereum’s initial coin offering (ICO) in 2014. At that time, Zhao had not been convinced Ethereum’s language was Turing complete, and he asked Buterin whether it was “too big of a bite to chew.” Buterin reassured Zhao that the vision was attainable.

While CZ confessed that he wished he had bought more Ethereum during its ICO, he theorized that missing out may have motivated him to build Binance and the Binance Coin (BNB) ecosystem. Zhao’s nod to Buterin highlights the Ethereum co-creator’s impact on the advancement of blockchain.

With the crypto space ever-evolving, influencers like Buterin and Zhao help shape this systemic industry’s trajectory through their contributions and innovations.

CZ urges traders to cut investments amid crypto crash

CZ recently gained significant attention amid a crypto market crash with his investment tip. He posted on X, addressing the current market dip whilst urging traders to reduce investment portfolios if stressed. 

Notably, cryptocurrency prices were facing immense heat, as Bitcoin (BTC) hit a $78K low, while altcoins mimicked an even harder price fall.

As per CZ’s X post last week, he advised traders and investors who were stressed amid the current dip to reduce their ‘investment size, given one considers crypto as an investment.’ The Binance founder stated, “Dips are a part of free markets,” further rationalizing the current market crash.

CZ recently said he will not build any new crypto projects. The decision comes as a significant shift for the influential figure who once defied skeptics and built Binance into the world’s leading crypto exchange. He recently tweeted about the importance of innovation, telling developers to “keep building.” But when asked if he was starting a new exchange or project, he noted, “I won’t start a new project. I will help other founders.”

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