In a recent interview, Vitalik Buterin, the co-founder of Ethereum, articulated the challenges and the evolving vision of Ethereum, juxtaposing it against the aspirations of Solana Labs co-founder Anatoly Yakovenko. Buterin, reflecting on the dual role of cryptocurrency in resisting centralized powers and fostering new democratic models, pointed out the playful nature of Ethereum.
Despite the heavy implications of blockchain in areas like democracy, Buterin quipped, “In Ethereum, the worst thing that happens is people lose money.”
Ethereum’s Journey Through Challenges
Buterin’s concerns center around the need for protocol upgrades in Ethereum. Particularly those of a technical nature, which he believes are usually left to the core developers. He differentiated these from economic upgrades, such as the shift from Proof of Work to Proof of Stake, which have wider implications and require broader consensus.
“Protocol changes where the core developers themselves don’t know if the community is going to be willing to go for a particular proposal is a very real concern. Within Ethereum, a lot of people sometimes think that core developers are kind of dictators and they have this agenda, but the reality is often the opposite,” Buterin emphasized.
2023 marked a significant year for Ethereum, with rollups enhancing scalability and security. According to Buterin, these technological advancements could potentially allow up to 100,000 transactions per second. However, he cautioned about rollups’ complexity and potential vulnerabilities, underscoring the importance of ensuring their safety.
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Author: Bary Rahma
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