Vitalik Buterin: “Blockchain is a machine of truth”
Date: 2024-07-22 Author: Oliver Abernathy Categories: BLOCKCHAIN
Vitalik Buterin, co-founder of Ethereum, recently expressed his thoughts on blockchains on social network X, saying that they can guarantee the integrity and immutability of data. According to him, blockchain technologies present information as input data without falsification, which significantly reduces the risk of manipulation.
Despite these advantages, Buterin noted that blockchains have their limitations. The technology is not designed to verify extensive information such as historical events. Blockchains do not have mechanisms to verify the authenticity of stored data. For example, blockchain can confirm when a message was sent, but cannot verify the authenticity of events such as the moon landing.
Need for Additional Tools
Buterin emphasized the need to develop additional tools to verify the truth within the blockchain ecosystem. New models should complement blockchain by providing ways to verify factual data beyond simple timestamps. This would improve data integrity and information verification.
Buterin's proposal caused heated discussions in the community. Some users supported the idea, suggesting the integration of artificial intelligence (AI) and decentralized systems to create such tools. Others have argued against the need for a central platform for truth-seeking, arguing that blockchain's current capabilities are already sufficient.
Advantages and Disadvantages of Ethereum
Additionally, Buterin recently discussed the disadvantages and advantages of the Ethereum network. He noted that the network is having difficulty processing a large volume of transactions, which leads to increased fees.
Buterin's ideas highlight the need for further development of blockchain technologies to ensure a higher level of trust in stored data. The integration of additional verification tools could be the next step in the evolution of blockchain, making it even more reliable and useful for various industries.
