Vitalik Buterin Goes In-Depth on Ethereum and How to Make it Stronger

Joshua Ramos

One of the creators of the largest smart contracts blockchain, Vitalik Buterin took the stage at the Ethereum Community Conference (EthCC) to discuss the network, its strengths, weaknesses, and how to make it even better. At the Brussel’s event, Buterin noted the strides the blockchain has taken, but what work lies ahead to optimize its offerings to a growing user base.

The keynote speech, to a room of more than 1,000 onlookers, covered a variety of topics. Among them was Buterin’s concerns regarding transaction censorship. Moreover, the co-founder revealed a unique proposal to those in attendance that would have a massive impact on the overarching issue.

Source – Watcher Guru

Also Read: Ethereum: Vitalik Buterin Wants to Redesign the Network

Buterin Talks Ethereum’s Strengths, Weaknesses, and ‘Hardening’ The Network

The network’s co-founder, Vitalik Buterin, recently spoke on Ethereum at a keynote talk. There, he expressed his belief that Ethereum thrives as a “large and reasonably decentralized staking ecosystem.”

This proved to be its greatest strength, according to Buterin. Moreover, it is supported by a growing community that is both international and highly intelligent. Yet, there is still room to make it better. The co-founder noted that solo staking is still very difficult. Currenlty, the process requires 32 ETH to become a validator, while running a node is increasingly complicated.

However, Buterin did note that these issues, “are very addressable.” Specifically, he discussed various improvements that would allow for a simplified protocol. “So if you want a robust ecosystem, it needs to be simple,” he said. “It should not have these, like, 73 random hooks and some kind of backward compatibility,” just because it was created by Vitalik himself.

Source: CoinDesk

Also Read: Ethereum ETF: Expert Predicts Official Launch in Next Two Weeks

He also voiced his worry about the 51% attacks on the blockchain. However, he noted a solution isn’t all that simple. Buterin said it “depends on a lot of assumptions around coordination, ideology, and various other things, and it’s not clear how to do something like that as well in 10 years.”

Buterin did share a proposal with attendees. He noted the difficulty in recovering from attacks when the chain finalizes. Therefore, he proposed increasing the quorum threshold from 75% to 80% to prevent that.

In the end, the Ethereum leader noted a clear path forward for the newor. “I think there’s value in really doubling down on these strengths and at the same time, recognizing and fixing our inadequacies and making sure that we actually live up to our very high standards.”