Ethereum co-founder Vitalik Buterin Talks About Future Threats to Technology Sector TopNews India
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Ethereum co-founder Vitalik Buterin Talks About Future Threats to Technology Sector - TopNews India
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Sun 28 Jul 2024 3 min of reading by Eddy S.
Vitalik Buterin, co-founder of Ethereum, recently responded to growing concerns about the decentralization of the Ethereum network, raised by Pter Szilgyi, a key developer of the team. Szilgyi had expressed concerns about the direction Ethereums development was taking. He suggests that some decisions could favor the centralization of the crypto network.
Buterin firmly rejected these allegations, highlighting the ongoing efforts to maintain a decentralized structure. During a recent Ethereum Foundation research workshop, several strategies aimed at minimizing centralization were discussed. Among these:
One of Szilgyis main concerns is related to the PeerDAS upgrade proposal, which aims to increase the size of Ethereum blobs to 32 MB. Szilgyi has expressed fears that this change could harm home stakers, potentially compromising the networks decentralization. He suggested that this modification could favor larger and more centralized entities, enabling them to dominate the crypto network.
In response to these concerns, Buterin proposed several realistic adjustments to the current roadmap. He notably mentioned accelerating the deployment of the Orbit mechanism! This could significantly reduce the minimum deposit size for staking, making participation more accessible. By lowering entry barriers, more people could participate in securing the crypto network, thus reducing the risk of centralization.
Buterin also emphasized the importance of maintaining Ethereums decentralized ethos while balancing technological advancements. He reaffirmed that decentralization remains a central priority for the project! This, despite ongoing challenges and regulatory pressures.
Vitalik Buterins recent statements aim to reassure the crypto community about the projects continued commitment to decentralization. The ongoing discussions and upgrade proposals demonstrate the development teams willingness to find a balance between technological advancements and fundamental decentralization principles.
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Crypto: Ethereum facing the challenges of decentralization - Buterin's response! - Cointribune EN
There is growing criticism that Ethereum, the largest in the blockchain world, has become centralized. Ethereum co-founder Vitalik Buterin responded to recent allegations of centralization of the ETH network.
Ethereum founder Vitalik Buterin has responded to recent claims by Ethereum team leader Pter Szilgyi regarding the alleged centralization of the Ethereum network karalabe.eth. In a post, Szilgyi claimed that PeerDAS is the direction Ethereum is headed with the next hard forks, aiming to increase blobs to a staggering 32MB, though not immediately. Szilgyi thinks Ethereum has lost the plot and claims that the research team fully embraced the idea of centralizing everything as long as it can be verified. To him, this is decentralized verification but a cute charade of centralized control.
Pter Szilgyis claims that the research team fully embraces the idea of centralizing everything as long as it can be verified caught the attention of Ethereum founder Vitalik Buterin, who stated that this is false. Buterin stressed that the Ethereum team is deeply engaged in discussions aimed at minimizing, not promoting, centralization.
Vitalik Buterin listed several key discussions and proposals aimed at minimizing centralization, including an in-depth analysis of the multi-proposer and determining whether the founder role can be eliminated. The Ethereum team also shared ideas for maximizing the power of opt-in lists (FOCIL) while making the choice of hard fork dependent on transaction participation. Other proposals include an analysis of Orbit single slot finality (SSF) and thoughts on accelerating the deployment of the Orbit mechanism, which has the potential to reduce minimum deposit sizes by around ten times before single slot finality occurs. Meanwhile, SSF is still in the research phase.
It takes about 15 minutes to finalize an Ethereum block. However, research is underway to improve the efficiency with which Ethereums consensus mechanism validates blocks and significantly reduce the finalization time. Instead of waiting 15 minutes, blocks can be proposed and finalized in the same slot. This concept is called single slot finality (SSF). Other proposals Buterin highlighted in his post include distributed block generation for PeerDAS, network analysis and bandwidth optimization of PeerDAS and fullDAS, ways to more partially automate recovery from 51% attacks and rely less on the social layer, and ensuring that inclusion lists are fully applied to blobs and transactions abstracted to the local account (e.g. EIP-7560).
Ethereum founder Vitalik Buterin highlights the potential of Zero Knowledge (ZK Proof) to improve social media platforms, especially on the privacy and scalability front. For perspective, ZK Proof is a cryptographic method that facilitates verification with limited data disclosure. As you have been following on Kriptokoin.com, this has been perceived as a game changer, especially in decentralized social protocols based on privacy and trust.
Speaking on the sidelines of ETHCC [7] Brussels, Buterin acknowledged that the potential of ZK Proofs is crucial to enable private content filtering. This technique empowers users to own their data and control third-party access. But the Ethereum co-founder also reiterated that beyond ZK Proof, social protocols need a unique front-end experience. Buterin mentioned Farcaster, which is similar to X, and Flink, which turns X into a Reddit-like platform. In this context, he noted:
I think the benefits of a more communal architecture and the decentralized social structure that makes that possible is something that I support.
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Vitalik Buterin Responds to Criticism About Ethereum! - Kriptokoin.com
Vitalik Buterin, one of the co-founders of Ethereum, is warning against voters supporting political candidates who claim to favor cryptocurrencies without understanding the technologys underlying goals.
In a July 17 blog post titled Against choosing your political allegiances based on who is pro-crypto, Buterin called on crypto users to look into candidates previously stated views on digital assets as an indication of where their positions might change in the future, assuming they hold them at all.
He pointed out that some people running for office without naming any specific country have been labeled as pro-crypto but have not necessarily made their positions clear on privacy in communications, digital identity, and access to information.
If you see a pro-crypto politician today, its worth it to explore their underlying values, and see which side they will prioritize if a conflict does arise, said Buterin.
The Ethereum co-founder pointed to Coinbases Stand With Crypto political initiative in the United States as an example. He suggested that the key bills the group used to measure whether a candidate was pro- or anti-crypto made [no attempt] whatsoever to judge politicians on freedoms related to cryptography and technology that go beyond cryptocurrency.
If a politician is in favor of your freedom to trade coins, but they have said nothing about the topics above, then the underlying thought process that causes them to support the freedom to trade coins is very different from mine (and possibly yours), said Buterin. This in turn implies a high risk that they will likely have different conclusions from you on issues that you will care about in the future.
Buterin warned that some governments with a propensity for authoritarianism took a rules for thee and not for me approach to crypto. He suggested that Russia supported the technology as a means to avoid economic sanctions but opposed it when it made surveillance of its citizens and enemies more difficult.
Related: Donald Trump picks crypto-friendly JD Vance as running mate
Though the Ethereum co-founder did not explicitly mention the 2024 US Elections, the timing of his post came as lawmakers gathered at the Republican National Convention to nominate Donald Trump, the partys presidential candidate.
Trumpshifted his tone on Bitcoin (BTC) from a scam in 2021 to supporting BTC miners and accepting donations in crypto in 2024. Many political experts have speculated that heis using the technology to attract pro-crypto voters in what is sure to be a close election between the prospective Democratic candidate, US President Joe Biden.
[B]y publicly giving the impression that you support pro-crypto candidates just because they are 'pro-crypto, you are helping to create an incentive gradient where politicians come to understand that all they need to get your support is to support crypto,' said Buterin.
It doesnt matter if they also support banning encrypted messaging, if they are a power-seeking narcissist, or if they push for bills that make it even harder for your Chinese or Indian friend to attend the next crypto conference all that politicians have to do is make sure its easy for you to trade coins.
Buterin, born in Russia, has sometimes blogged about the state of crypto regulation in the world and political ideology concerning the technology. He has held citizenship in Montenegro since 2022 but reportedly still holds passports for Canada and Russia.
Magazine: Crypto voters are already disrupting the 2024 election and its set to continue
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Vitalik Buterin warns of politicians claiming to be pro-crypto - Cointelegraph