Vitalik Buterin, co-founder of the ethereum networkmade some interesting comments during a recent interview. One of them was his revelation of the worst thing that usually happens on the ethereum network.
The worst thing that happens on ethereum
vitalik He mentioned that the worst thing that happens in ethereum That's when people lose money. However, it is worth mentioning that this particular comment came in relation to his previous comments about the impact that wars and dictators have on human lives. This was meant to be light-hearted compared to the “heavy things” he had just talked about.
Meanwhile, Vitalik is of the opinion that cryptocurrencies have an important role to play in any attempt to curb the excesses of those in power. He said that cryptocurrencies can “counterpressure” the powers of these governments and large corporations.
Cryptocurrencies are already doing this, as he highlighted that people have more control over their finances and that the government cannot easily seize their money to finance wars. He also alluded to ZK (Zero Knowledge) technology and how people can prove things about themselves without the government maliciously using that information.
These statements from Vitalik re-emphasize the essence of cryptocurrencies and their role in creating a decentralized economy. As people continue to lose faith in the traditional financial system, cryptocurrencies have provided a refuge for those looking to have greater control of their finances.
<img decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/fgNV6di8/" alt="Tradingview.com ethereum Price Chart” width=”3266″ height=”1530″/>
eth price falls below $2,400 | Source: ETHUSD on Tradingview.com
Digital democracy at eth
Vitalik also referred to ethereum and the need to make certain protocol updates. He specifically noted that some of these improvements are economical. For them, Vitalik believes that it is necessary ethereal community get more involved to avoid a similar system, which cryptocurrencies aim to eliminate.
To achieve this, the ethereum co-founder proposed innovate a better kind of democratic tool where members could use ZK votes to make their voices heard. At the same time, it will also be necessary to develop tools that can weed out those who are not actually part of the community, she said. That way, eth core developers can implement updates that reflect the wishes of everyone in the community.
Vitalik was also optimistic about the future of ethereum. He stated that the network has improved tremendously and has achieved “amazing success” in terms of scaling and improving UX, security and privacy. These, in his opinion, were some of ethereum's biggest problems in the last 10 years.
Regarding scale, the eth co-founder says the “most important thing” that happened in 2023 was the fact that Rollups just got safer. These layer 2 networks could help ethereum potentially scale to 100,000 transactions per second.
Featured image from Coingape, chart from Tradingview.com
