The University of Basel granted an honorary doctorate to the co-founder of Ethereum (ETH) Vitalik Buterin, according to an official statement on the university site today, 30 November.
The Faculty of Economics and Business of the oldest Swiss university has given Buterin "outstanding results in crypto-currencies, smart contracts and institution design", as the university noted in a recent Tweet on the official Twitter account.
The honorary doctorate of the Faculty of Economics is assigned to Vitalik Buterin by the dean Prof. Dr. med. Aleksander Berentsen. Source: Universität Basel
The honorary degree was granted by Dean Aleksander Berentsen, professor of economic theory and dean of the faculty of economics and commerce during the annual celebration of the university "Dies academicus" which was held on Friday 30 November.
The University of Basel made specific reference to the "innovative" contribution of Buterin to the promotion of the idea of decentralization, as well as to "equal participation in the digital revolution". The faculty stressed that Buterin "wrote his scientific studies without a degree and a commitment to a university".
In July 2018, Buterin criticized centralized exchanges, stating that such institutions should "burn in the hell". The software developer argued that the crypto community should face the idea of the "stupid king making power" and confirmed its strong positive position towards decentralization.
At the beginning of November, Buterin revealed some details of the next update to the Ethereum network. Nicknamed "Serenity", the next Ethereum 2.0 will refer to several Ethereum projects that have been collected since 2014. Without specifying the planned date of the update, Buterin only stated that "it was not that far away".
Launched in the summer 2015, Ethereum is one of the main cryptocurrencies, in addition to a public blockchain platform with smart contracts and provides a basis for decentralized applications (DApp).
The main altcoin is the third largest cryptocurrency in terms of market capitalization, having recently lost its position as a second to Ripple (XRP). ETH saw its all-time high of $ 1,400 in mid-January, followed by a massive sell-off this year. Ethereum is trading at $ 112.72 at the time of printing, according to CoinMarketCap.
Price chart of Ethereum. Source: CoinMarketCap Ethereum price index