Vitalik Buterin “Regrets” Using Term “Smart Contracts”
Vitalik Buterin, the co-founder of ETH took to Twitter to express his regret at utilizing the phrase “smart contracts”. His tweet details that he believes that it would have been better if he named the term something more technical and dull.
Vitalik’s posted the tweet as a response to CleanApp debating the idea of CryptoLaw. In their threat, the latter detailed their opinion of governing framework, and the way in which smart contracts manage conseuences in reality.
After the mention of smart contracts, Vitalik inputs his opinion that he wishes smart contracts had been named “persistent scripts.”
His comments indicates an appeal to move smart contracts away from the concept of legal documentation, and towards a persistent process. In the last year, smart contracts gained popularity. ETH achieved significant success after it started off at a value of $8 and shot up to over $1000 each.
ETH’s growth encouraged other token teams to make an attempt at imitating the successful currency’s structure. Other coins, like Neo, EOS, and hundreds more began to follow ETH’s path.
Cryptocurrency regulation and management has made headlines in the past few months, particularly since ETH’s DAO hacking incident led to the recent hard fork. Throughout the dilemma, ETH supporters and investors made the decision to return hacked tokens to victims in a controversial action.
Those who were against the choice to rollback the chain initiated Ethereum Classic.