👀 Vitalik Buterin Reveals Features He Regretted When He Built Ethereum

Vitalik Buterin, Ethereum co-founder and chief architect of the project, made a surprise appearance at the last event held at ETHBerlin. His unexpected debut and candid reflections on Ethereum's initial design attracted the attention of more than 600 developers.

Buterin's speech not only brought back memories of Ethereum's beginnings in 2014, but also offered insight into the future of the cryptocurrency, which is now worth $448 billion. This comes at a time when the US has approved a spot Ethereum exchange-traded fund and BlackRock, the world's largest asset manager, has launched its own tokenized fund on the blockchain.

Despite Ethereum's increasing mainstream penetration, Buterin noted that it is still often misunderstood. “The simple explanation is that Bitcoin is digital gold,” Buterin said. However, he argued that ETH does not have such a simple definition.

During his chat with ETHBerlin organizers Afri Schoedon and Franziska Heintel, Buterin talked about his memories in Berlin and his experiences with Ethereum co-founders Gavin Wood and Jeffrey Wilcke.

When Schoedon asked how he would rebuild Ethereum from scratch with his current knowledge and experience, Buterin first pointed out the problems with Ethereum's Virtual Machine (EVM). He explained that the original EVM design used 256-bit processing rather than the more efficient 64- or 32-bit. “The original design was too well suited for 256-bit,” Buterin told the audience.

Buterin also expressed his regret about the switch from Proof of Work consensus mechanism to Proof of Stake in 2022. He stated that he believed that a simpler version of Proof of Stake could have been implemented sooner, saving a significant amount of computing resources. “If we had a much simpler proof-of-stake in 2018, we could have saved a huge amount of trees,” Buterin said.

Buterin also said that now Ethereum would use SHA-2 for its encryption instead of the current encryption called Keccak.

$ETH #ETH #Ethereum #VitalikButerin

Vitalik Buterin admits Ethereum could've benefited from a simpler Proof of Stake (PoS) system implemented sooner.
He also regrets not including automatic logging from the start. While Ethereum enjoys mainstream success, Buterin believes it's misunderstood compared to Bitcoin's clear "digital gold" narrative.

#VitalikButerin #pos #ProofOfStake #Ethereum

🚀 Vitalik Buterin Highlights the Importance of Layer 2 Networks as Cultural Extensions of Ethereum

In a recently published article, Ethereum's founder Vitalik Buterin emphasized the significance of Layer 2 (L2) networks as cultural extensions of Ethereum. He noted that L2 networks like Polygon, Optimism, Metis, Arbitrum, Scroll, Taiko, and others foster the development and growth of diverse subcultures within the Ethereum ecosystem. These networks play a crucial role in enhancing Ethereum's scalability and innovation.

#Ethereum #VitalikButerin #Layer2 $ETH

📢Vitalik Buterin donates 30 ETH to Juicebox: Free Alexey and Roman Today. Vitalik Buterin, co-founder of Ethereum, gave 30 $ETH (about $113,000) to Juicebox: Free Alexey & Roman to help Tornado Cash developers Alexey Pertsev and Roman Storm with their legal defense.

The fund has raised around 559.81 ETH in total. #Ethereum #Juicebox #VitalikButerin

"𝐂𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐒𝐞𝐧𝐬𝐢𝐭𝐢𝐯𝐢𝐭𝐲 𝐢𝐧 𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲: 𝐕𝐢𝐭𝐚𝐥𝐢𝐤 𝐁𝐮𝐭𝐞𝐫𝐢𝐧'𝐬 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬"

Vitalik Buterin stresses the need for cultural awareness in the crypto world. He points out how words can have different meanings across cultures, like 'DAO' being seen as 'project'. This highlights the importance of clear communication and understanding linguistic nuances in this evolving industry.

#CryptocurrencyCulture
#VitalikButerin
#LanguageNuances
#ClearCommunication
#CryptoIndustry

Vitalik Buterin’s recent article indeed sheds light on the Layer 2 (L2) scaling solutions and their cultural impact on the Ethereum ecosystem. He acknowledges that platforms like Polygon, Optimism, Metis, Arbitrum, Scroll, and Taiko enable the formation of subcultures within Ethereum, each with significant resources at their disposal.

Buterin also expresses concern over the potential for some L2s to prioritize narrow financial success over broader ecosystem development1. He emphasizes the importance of diverse approaches to scaling, security, and connectedness, which are shaping the evolving Ethereum landscape.

The Ethereum co-founder highlights that while some projects aim to align closely with Ethereum and potentially become ecosystem L2s, others may seek a “halfway-house” level of decentralization due to their high throughput needs, which might not be suitable for rollups in the short term.

Moreover, Buterin points out that non-financial applications, such as games and social media platforms, may require different levels of security and functionality, suggesting that activities like username registration and account recovery should be on a rollup, while posts and votes could have less security.

It’s a complex balance between fostering innovation, ensuring security, and maintaining the integrity of the Ethereum network as it scales. Buterin’s insights provide a roadmap for developers, projects, and users navigating the intricate landscape of Ethereum’s L2 solutions.

#Ethereum #ETF #Layer2 #DEFI #VitalikButerin

📢 Breaking News: Vitalik's Sold 70,000 $ETH

Vitalik Buterin, the creator of #Ethereum publicly admitted to selling 70,000 ETH at the all-time high in 2018. That’s a staggering $95,550,000 dumped on #ETH holders.

Vitalik Said: “I did get the Ethereum Foundation to sell 70,000 ETH like basically at the top, and that’s doubled our runway now, so it was one good decision that had a lot of impact.”

Meanwhile, Satoshi Nakamoto, the mysterious creator of #Bitcoin still hasn’t sold a single Bitcoin. Ever.

#VitalikButerin  #satoshiNakamoto  $BTC  $SOL $USDC

💥💥💥 #Ethereum Pectra Upgrade Expected to Launch in Q1 2025

Key Points:

- Ethereum is set to launch the Pectra upgrade by the first quarter of 2025, integrating EOF, PeerDAS, and EIP-7702 to bolster performance and effectiveness.

- Pectra introduces novel opcodes, enhancing staking efficiency and expediting cryptographic operations.

- This upgrade will revise the deposit and withdrawal procedures while regulating capital requirements for validators.

- Ethereum's core developers are gearing up for the launch of Pectra, the forthcoming major upgrade aimed at advancing the blockchain network's capabilities.

Ethereum Pectra Upgrade Targeted for Q1 2025

- The Ethereum Pectra upgrade is poised to bring forth significant improvements and innovations, driving the progress and efficacy of Ethereum.

- Pectra will encompass several Ethereum Improvement Proposals (EIPs), including EOF, PeerDAS, and EIP-7702. EOF comprises around 11 EIPs, introducing an opt-in container for EVM code to bolster performance and efficiency. PeerDAS aims to enable decentralized peer-to-peer interactions on the network.

- EIP-7702, proposed by Ethereum co-founder #VitalikButerin , is slated to replace the older account abstraction EIP-3074, enhancing network functionality and performance. The upgrade might postpone the implementation of Verkle Trees to a subsequent hard fork named Osaka.

Validator Adjustments and Enhanced #Staking Efficiency with Pectra

- Pectra combines Prague and Electra upgrades, targeting different layers of Ethereum: Prague updates the execution layer enforcing protocol rules, while Electra enhances the consensus layer for block validation. This comprehensive approach underscores Ethereum's dedication to continuous improvement and innovation.

- The Ethereum Pectra upgrade will introduce new opcodes, enhance staking efficiency, and expedite cryptographic operations. It will also incorporate EIPs related to deposit and withdrawal processes, potentially streamlining operations and enhancing efficiency for validators.

Source - coincu.com

#CryptoTrends2024

Some advices for #cryptomarket followers:

#VitalikButerin :
Do focus on technology, not the price‼️

#CZ :
Don’t take shortcuts, build steadily‼️

#Cryptourist :
Do not trade unless you have Risk Management and Strategy‼️

FUN FACT : Vitalik Buterin was just 19 years old when he wrote the Ethereum whitepaper.

#BTC #VitalikButerin #crypto2023 #Stablecoins #bnbgreenfield

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