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Tuesday, October 26, 2021

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Di Iorio, co-founder of Ethereum, leaves the world of crypto assets • ENTER.CO

Di Iorio is one of the co-founders of Ethereum, the blockchain system created to manage ether, the cryptocurrency, in a secure way. In addition, the 46-year-old Canadian, who invested in bitcoin in the beginning, has been on Forbes’ list of the richest men on the planet with crypto assets on multiple occasions. However, a few weeks ago he announced his withdrawal from the accelerator Decentral and the crypto wallet Jaxx and will leave the world of digital currencies to focus on other projects and for security reasons, he said at the time.

The crypto entrepreneur explained that he wanted to focus on other projects that would help the planet more; for example, it would have invested in the development of an electric car, according to the Bloomberg portal. In an interview for the FastCompany portal, he talked about why he should leave the world of crypto assets, gave some advice and told what his next plans are.

About Ether, crypto assets and their future

The first thing that stands out is that during his interview he assured that the world of crypto assets should not be seen in the short term, but in the long term; so those who invest and focus on the daily ups and downs would be doing it wrong. He affirmed that, currently, a lot of money is being invested in the development of technologies for crypto assets and blockchain, “more than what was invested in the development of the Internet in its beginnings,” he highlighted.

Furthermore, he explained the difference between ‘Proo of work’ and ‘Proof of stake’ and the idea that Ethereum has to minimize energy consumption that is caused by mining of Ether. The main idea is that mining does not consume energy, but it will still mean by the coin miners. Di Ioria assures that this new model will change the game; Well, to begin with, you do not need graphics cards to produce an ether. The change is still in development and Ethereum 2.0 is expected to be available in 2022.

Regarding his exit from the world of crypto assets. Di Iorio explained that there are certain security issues when you cut out intermediaries like banks. «In a bank there are anti-theft insurance, procedures that ensure that if they kidnap you, they cannot take all your wealth; the same is not the case with cryptocurrencies. Although we have built more secure systems, “he explained. In addition, he said that for a time he had to hire bodyguards, which took away his freedom, according to what he wanted from his departure and in the long term he decided that it was better to bet on projects that seek to solve needs in the world, so, although it still has cryptocurrencies, it will not be dedicated only to the development of its technology.

Image: Assembly ENTER.CO.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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