Ethereum co-founder Vitalik Buterin shared his thoughts on the development of the Ethereum blockchain and the cryptocurrency industry in general on the social network Twitter.
In a series of tweets by Vitalik Buterin wrotethat he has many contradictions that he still cannot overcome. First of all, it concerns the Ethereum network. On the one hand, he would like Ethereum to become a stable network, both technically and culturally, like Bitcoin. On the other hand, this requires a huge amount of coordinated effort and change that must be implemented in the shortest possible time.
The co-founder of Ethereum wrote that he prefers to rely less on individuals in an attempt to create a stable and viable system that can stand the test of time. At the same time, he values ”live players”, meaning the individuality of each developer who contributes to the creation of a network to bring the world to a new level.
Buterin wants to see how Ethereum, as a layer one protocol that should be as simple as possible, can “survive in the most extreme circumstances.” But he is disheartened by the fact that the developers of many Ethereum-based applications have more “fragile” security perceptions than what is considered acceptable in the Ethereum protocol.
He also wrote that he was torn between his commitment to decentralization and democracy, and his agreement with the actions of the intellectual elite on some political issues. Buterin does not give up hope that in the future more countries will conduct bold experiments in the cryptocurrency industry, however, many countries will still support centralization and remain unfriendly towards cryptocurrencies.
Buterin is committed to moving cryptocurrencies beyond finance, with payments being the area where cryptoassets are most successful in realizing their potential, especially in developing countries. Buterin also mentioned NFTs, in particular the $3 million “bored monkeys.” He wrote that he dislikes the hype around NFTs, but he has to admit that they have become an integral part of the cryptocurrency market and are used for decentralized governance.
Earlier, Buterin said that collectible tokens should solve social problems, and not be used only for profit. Recently, Buterin acknowledged that the fees in the second layer solutions for the Ethereum network are still high, so they should aim to reduce them to $0.05.
Source: Bits
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