Ethereum blockchain is at risk if decentralization is just a phrase, says Butein


The co -founder of Ethereum, Vitalik Butein, wants the cryptographic industry to grow quickly, emphasizing that the industry is in a “turning point.”

Speaking in front of a full room at the Ethereum community conference, in Cannes, France, Bugerin used its main note to deliver a clear eye reality verification: decentralization, he argued, must evolve from a phrase to a specific set of user guarantees, or risk becoming another hollow promise.

JWP-Player-Lugarholder

As the industry has become the support of the main corporations and political figures, builders must return to the key ideals of the ecosystem that surround the decentralization and construction of user needs, Bterin said.

In his typical jeans and his relaxed dark t -shirt uniform, Bugerin presented practical “tests” that said that each cryptographic project should pass. These include 1) the tour test. If the company behind an application disappears, users keep their assets? And 2) the internal attack test: How much damage can the dishonest or the compromised fronts cause? And 3) If you have a reliable computer base: in how many lines of code should they be trusted to protect the funds or data of the users?

He warned that too many layer 2 networks, defi and “decentralized” frontal projects are based on hidden rear doors, instantaneous update buttons or insecure interfaces that can be handled and pirate.

Even identity and privacy solutions were under their critical eye. Zero knowledge tests, he said, can be counterproductive if users still reveal their entire transaction history when they log in with centralized suppliers. Privacy, he added, must turn from being treated as an optional feature to something that reduces data leaks by default.

10 years have passed since Ethereum Blockchain launched, and Bugerin has been pressed in recent months from the community to address the basic protocol problems. If not, the block chain could lose its advantage against competitors.

For Bugerin, this next phase in the history of Ethereum means building systems that pass the walking test, reduce the reliable base of the code and resist internal attacks. This includes equilibrium engineering with simple and robust solutions.

“If we lose that,” he concluded, “Ethereum inevitably becomes generational, and inevitably happens like many other things have happened before.”

Read more: VITALIK BUTERIN proposes to replace the Ethereum EVM with RISC-V



Leave a Comment

Your email address will not be published. Required fields are marked *