Vitalik Buterin proposed a "recipe" for the sustainable development of Ethereum
Date: 2023-06-09 Categories: IN WORLD
Vitalik Buterin proposed a "recipe" for the sustainable development of Ethereum
Ethereum co-founder Vitalik Buterin has published a roadmap in which he noted the main directions for the sustainable development of the second largest cryptocurrency by capitalization.
He singled out three components that play a key role in maintaining the decentralization and permissionless properties of the ether:
L2-scaling;
strengthening the security of wallets;
data privacy.
Buterin emphasized the importance of the first component – without it, Ethereum fees will rise during bull market phases. As a result, users will move to centralized alternatives.
Regarding the second point, Vitalik Buterin expressed the opinion that due to potential security issues, market participants may attach less importance to non-custodial storage of assets.
“Without a second [wallet security], Ethereum is failing as it is inconvenient for users to store their funds and non-financial assets – everyone is moving to centralized exchanges,” he noted.
He proposed the use of wallets based on smart contracts, using complex features like "social" recovery.
Buterin also emphasized the importance of the third point. In his opinion, without strong measures to ensure data privacy, users may refuse to use Ethereum. The latter can be prevented by implementing protocols that use the concept of hidden addresses.
