Buterin remains convinced that “ Internet of Money shouldn’t cost more than 5 cents per transaction And highlighted Ethereum’s continued efforts to improve the scalability capabilities of the blockchain.
Predictions made over the years
To wrap up the last decade, Ethereum co-founder Vitalik Buterin looked back on predictions he has made over the years, showing he has a knack for being right about abstract ideas rather than problems. software development in production.
Buterin started the Twitter thread by addressing his July 23, 2013 article, in which he highlighted the main advantages of bitcoin (BTC), namely internationality and resistance to censorship. Buterin predicted the potential of bitcoin to protect the purchasing power of citizens in countries like Iran, Argentina, China, and the African continent.
However, Mr Buterin also saw an increase in stablecoin adoption when he saw Argentinian companies operating in Tether (USDT). He backed his ten-year-old ideas around the negative impacts of bitcoin regulation.
The entrepreneur believes that “ Internet of Money shouldn’t cost more than 5 cents per transaction And highlighted Ethereum’s continued efforts to improve the scalability capabilities of the blockchain.
” I loved altcoins before altcoins were cool Added Buterin, citing an article in which he bases this claim on three arguments: different chains optimize for different purposes, the costs of having many chains are low, and the need for an alternative in case the team main development is wrong.
In addition, Buterin backtracked on its support for Bitcoin Cash (BCH), stating that communities formed around a rebellion, even if they have a good cause, often struggle in the long run, adding that ” they value bravery over skill and are united around resistance rather than a cohesive path forward. “
“ Lots of correct stuff (I basically predicted “DeFi”), although incentivized file storage + computation hasn’t really taken off (yet?), And of course I missed NFTs completely. “
Concluding the results, Buterin backed up the instincts that helped him correct his mistakes early on, saying: ” On technology, I was more often right about abstract ideas than about production software development issues. I had to learn to understand these over time. “
Vitalik Buterin presents ETH 2.0 Finals roadmap
In early December, Buterin shared his vision for a “ plausible roadmap “For ETH 2.0, suggesting” a second level of staking, with low resource requirements »For the validation of the distributed blocks.
In addition, he proposed the introduction of an anti-fraud system or ZK-SNARKS which can serve as a cheaper alternative for users to check the validity of blocks. According to Buterin:
“ [Avec ces mises à jour] We get a chain where block production is still centralized, but block validation is trustless and highly decentralized, and specialized anti-censorship magic prevents block producers from censoring. “
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I like cryptocurrency. I’ve been studying it for several years now, but also investing in it and working in this field. In addition, I do articles on the subject where I try to be crisp!