Vitalik Buterin: I believe in Ethereum 2.0, but I doubt its acceptance by network members

The creator of Ethereum Vitalik Buterin is confident in the prospects of launching the zero phase of the transition of the Ethereum ecosystem to stage 2.0 and said that this will happen next year. He talked about this, as well as about his doubts about the community’s acceptance of the transition to the Proof-of-Stake consensus mechanism in the 80,000 hours podcast.

We spoke to @VitalikButerin , child prodigy and creator of Ethereum for 3 hours about a large number of topics: https://t.co/2lu7lw5x4y

– 80,000 Hours (@ 80000Hours) September 3, 2019

Buterin noted that he believes in the potential of distributed registry technology, but at this stage there is very little actual deployment of blockchain applications outside of cryptocurrency.

He is convinced that the main step in the development of blockchain technologies is to solve the scalability problem.

“15 transactions per second is practically nothing. If you want to influence the global economy, you need to achieve tens of thousands of transactions per second. And Ethereum 2.0 with sharding, I hope, will allow this. ”

However, according to Buterin, despite the serious technological sophistication of the technology, he cannot say with certainty how interested the network participants themselves are in maintaining decentralization after switching to the Proof-of-Stake consensus mechanism.

“For example, people will just be lazy and run all their staking nodes on AWS. Or they will be even more lazy and just send money to Binance to participate in staking, and Binance will do staking for everyone. Will people be staking in unsafe ways that will lead to hacks? And how decentralized will the process really be? ”

In addition, Buterin said that he is a great supporter of multi-signature technology, but its widespread implementation by various organizations and individuals is hindered by the problem of ease of use.

The creator of Ethereum is also convinced that the blockchain can solve many problems in the field of cybersecurity and the safety of personal data and user’s means, however, critics of the technology do not look at its prospects, however, “they will be able to understand this over time.” However, a distributed registry cannot be considered a universal answer to all questions.

“People often get the impression that blockchain is a technology that provides trust. But the reality is that it provides a certain type of trust for a specific type of claim. ”

Recall, recently Vitalik Buterin said that the Ethereum blockchain is almost full.

Subsequently, his statement was criticized by Binance Exchange CEO Changpeng Zhao, who is convinced that the newer blockchains have already solved the problem of network scalability.

Subscribe to BlockchainJournal news in Telegram: BlockchainJournal Feed – the entire news feed, BlockchainJournal – the most important news and polls.