Vitalik Buterin: Ethereum white paper guessed DeFi but missed the white paper。

Time:2022-01-24 Source: 932 views DeFi Copy share

Buterin still believes that "the cost of each transaction on the Internet of Money should not exceed 5 cents" and emphasized that Ethereum will continue to work hard to improve the scalability of the blockchain.

In summing up the past ten years, Ethereum co-founder Vitalik Buterin re-examined his forecasts for the industry over the years, showing that his views on abstract concepts are more predictable than software development issues.

Buterin started discussing his article on July 23, 2013 on Twitter, in which he emphasized the key advantages of Bitcoin—internationality and censorship resistance. Buterin foresaw the potential of Bitcoin in protecting the purchasing power of citizens of Iran, Argentina, and Africa.

However, Buterin also noticed the increase in the adoption rate of stablecoins because he saw Argentine companies doing business on Tether (USDT). He revolves around the negative impact of Bitcoin regulation, confirming his ideas ten years ago.

The entrepreneur still believes that "the cost of each transaction on the Internet of Money should not exceed 5 cents" and emphasized that Ethereum will continue to work hard to improve the scalability of the blockchain.

"I loved altcoins before they became popular," Buterin added, citing an article in which he proved this claim through three arguments: different chains are different The goal is optimized, the cost of owning multiple chains is low, and a replacement is needed in the event that the core development team makes a mistake.

On the other hand, Buterin refuted his support for Bitcoin Cash (BCH). He said that even if they have a good reason, the communities formed around the rebellion are often difficult to survive for a long time, adding, "They value bravery. Rather than ability, and unite around resistance rather than a coherent way forward."

"A lot of it is correct (basically predicted'DeFi'), although the incentive file storage + calculation has not taken off high enough (yet?), of course I also completely missed the NFT."

In summing up the results, Buterin supported the intuition that helped him correct mistakes in the early stages. He said: "Technically, I am more often correct in abstract ideas than in production software development issues. I have to learn over time. Understand the latter."

In early December, Buterin shared his views on Eth2's "reasonable roadmap" and proposed a "second-layer pledge, low resource requirement" distributed block verification.

In addition, he proposed to introduce anti-fraud or ZK-SNARKS as a cheaper option for users to check the validity of blocks. According to Buterin:

"Through these updates, we get a chain in which block production is still centralized, but block verification is trustless and highly decentralized. Professional anti-censorship capabilities can prevent block producers from censorship." (Cointelegraph)


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