Availability Balance
Vitalik Buterin, co-founder and chief scientist of Ethereum, emphasized the need to make Ethereum accessible to both new and experienced users, while maintaining its core values. At the BaseCamp summit, he noted that the Ethereum ecosystem is undergoing significant changes, moving from small applications to solutions that can be used by tens of millions of people. The main goal is to create user-friendly applications that follow the principles of Ethereum.
Accessibility Problem
With the focus shifting from the Layer 1 core network to Layer 2 and the broader application ecosystem, developers are faced with the challenge of attracting users of varying skill levels without depending on a centralized infrastructure. Buterin emphasized the importance of creating apps aimed at those new to cryptocurrency, avoiding scenarios where interaction with decentralized systems occurs through centralized accounts such as Google. He noted that centralized finance (CeFi) companies like Coinbase can help everyday cryptocurrency users expand their participation beyond simply buying and holding coins.
Cross-Chain Compatibility
Buterin called on developers to reduce the hassle of cross-chain transfers and accessing dApps via layer 2 networks. He pointed to new updates such as ERC-3370 and ERC-7683 aimed at making cross-chain transfers easier. He also emphasized the need to prioritize decentralized architecture, suggesting a move towards more decentralized structures.
Stage 1 Decentralization
Buterin described the first stage of decentralization as maintaining "limited training wheels," with the network running a centralized security council with the power to override unauthorized government root requests in the event of errors. Consensus between the network operator and the security council determines the decision-making process.
At the time of writing, Ethereum (ETH) is trading at $3,100, down just over 1%, according to CoinMarketCap data. As the ecosystem evolves, achieving this delicate balance will be critical to Ethereum's continued growth and adoption.
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