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Home»ETHEREUM NEWS»Vitalik Buterin reveals the worst thing happening on the Ethereum network.
ETHEREUM NEWS

Vitalik Buterin reveals the worst thing happening on the Ethereum network.

By Crypto FlexsJanuary 2, 20243 Mins Read
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Vitalik Buterin reveals the worst thing happening on the Ethereum network.
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Vitalik Buterin, co-founder of the Ethereum networkSome interesting comments were made during the meeting. Recent Interviews. One of them was his expose on the worst things that commonly happen on the Ethereum network.

The worst thing that can happen on Ethereum

Vitalik I mentioned the worst thing that happens in . Ethereum This is when people lose money. However, it is worth mentioning that this particular comment came in the context of his previous comments about the impact of war and dictators on human life. It refers to a light heart compared to the ‘heavy thing’ just mentioned.

Meanwhile, Vitalik believes cryptocurrencies have an important role to play in efforts to curb the excesses of those in power. He said cryptocurrencies could put “counter-pressure” on these government powers. major company.

Crypto is already doing this, emphasizing that people have more control over their finances and that governments cannot easily obtain money to finance wars. He also mentioned: ZK (Zero Knowledge) Skills How can people prove information about themselves without the government using that information maliciously.

These remarks from Vitalik once again emphasize the essence of cryptocurrency and its role in creating a decentralized economy. As people continue to lose trust in traditional financial systems, Cryptocurrency provided refuge For people who want more control over their finances.

ETH price falls below $2,400 | Source: ETHUSD on Tradingview.com

Digital Democracy at ETH

Vitalik also spoke about Ethereum and the need to create it. Specific protocol upgrades. He specifically mentioned how economical some of these upgrades are. For this, Vitalik believes that you need: Ethereum Community We need to engage more to avoid similar systems that cryptocurrencies aim to eliminate.

To achieve this, Ethereum co-founder proposal Innovating a better kind of democratic tool that allows members to make their voices heard using ZK Vote. At the same time, he said, there will also be a need to develop tools to weed out people who don’t actually belong to the community. This will allow core ETH developers to implement upgrades that actually reflect the wishes of everyone in the community.

Vitalik also sounded optimistic about the future of Ethereum. He said the network has seen significant improvements and has achieved “remarkable success” in terms of expansion and improvements in UX, security and privacy. In his opinion, these have been some of the biggest problems with Ethereum over the past decade.

When it comes to scaling, the ETH co-founder says the “biggest things” that will happen in 2023 are: Roll-up has become safer.. These layer 2 networks could help Ethereum scale to potentially 100,000 transactions per second.

Featured image from Coinape, chart from Tradingview.com

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