[Vitalik Buterin reminds everyone of the main goal of cryptocurrency]
Vitalik Buterin, co-founder of Ethereum, recently reminded us that cryptocurrency is not only about digital asset transactions, but also about freedom and decentralization. His insights sparked widespread discussion, particularly about how cryptocurrencies can protect individual freedoms and privacy in the face of global surveillance.
Buterin pointed out that individual rights can be violated by widespread surveillance measures, and cryptocurrencies are designed to counter this concentration of power with the aim of returning control to individuals.
However, Ethereum and other cryptocurrency platforms face an inherent contradiction. Despite the idea of decentralization, a large number of Ethereum transactions have been scrutinized in compliance with Office of Foreign Assets Control (OFAC) regulations. This contradiction triggered extensive discussion within the community.
Additionally, Ethereum’s move from Proof-of-Work (PoW) to Proof-of-Stake (PoS) is seen as a move toward efficiency and environmental sustainability, but PoS may not increase decentralization. Under the PoS mechanism, those who hold more tokens have greater influence, potentially leading to greater concentration of power, which contradicts the basic principle of cryptocurrency—equal distribution of power.
Despite the recent broad market correction, Ethereum value continues to show volatility. The market has shown some resilience as prices moved back above $3,000, but Ethereum's potential as the world's second-largest cryptocurrency has yet to be fully realized, especially in anticipation of a possible price increase after the halving that could see its value return to $5,000 historical highs.
