BTC-Newswire

Ethereum co-founder Vitalik Buterin calls for privacy and decentralization

Press Releases Crypto News Crypto-News Ethereum co-founder Vitalik Buterin calls for privacy and decentralization

Ethereum (ETH) co-founder Vitalik Buterin believes that privacy and decentralization should be key priorities for the blockchain network going forward.

Buterin cautioned that centralized entities like custodial exchanges are “vulnerable” and can be corrupted. Users should be able to transact directly on the Ethereum blockchain, he argues.

Here’s what the 29-year-old entrepreneur told CNBC at a recent crypto developer conference in Prague:

We need the experience on-chain to actually be good for regular people to use. […] We need it to actually be possible to do Ethereum payments in a way where the transaction fee is less than five cents.

Vitalik Buterin — Ethereum co-founder

Buterin believes Ethereum can realize its greatest utility in emerging economies by enabling payments, savings and access to the global economy. He said crypto adoption is already spreading in countries like Argentina.

I literally got recognized on the streets of Buenos Aires more often than I got recognized in San Francisco.

Vitalik Buterin — Ethereum co-founder

However, he warned that centralized actors like Binance still dominate crypto usage in many developing nations. Buterin said Ethereum must become more decentralized and secure for regular users.

People need to have wallets that are actually secure, where if they lose the keys, they’re not going to lose everything.

Vitalik Buterin — Ethereum co-founder

Buterin also advocated for more privacy technology such as zero-knowledge proof implementations. He argued that Ethereum’s move to proof-of-stake consensus makes it “easier to anonymize.”

Proof-of-stake is actually easier to anonymize and harder to shut down than proof-of-work is. […] Proof-of-work requires huge amounts of physical equipment and requires huge amounts of electricity. These are exactly the kinds of things that drug

Go to Source to See Full Article
Author: Adrian Zmudzinski

Did you like this?
Tip BTC Newswire with Cryptocurrency