The co -founder of Ethereum, Vitalik Buterin, wants the cryptographic industry to grow quickly – stressing that the industry is at a “inflection point”.
Speaking in front of a crowded room at the Conference of the Ethereum community, in Cannes, in France, Buterin used his speech to offer a clear reality verification: decentralization, he argued, must evolve from a slogan to a concrete set of user guarantees-or may become another hollow promise.
As the industry has become a dominant current with the mentions of large companies and political figures, manufacturers must return to the key ideals of the ecosystem surrounding decentralization and construction for user needs, said Buterin.
In his typical jeans and his uniform of relaxed dark t-shirts, Buterin has exercised practical “tests” he said that each crypto project should pass. These include 1) the walking test. If the company behind an application disappears, do users keep their assets? And 2) The initiate attack test: how much damage damage or compromise fronts can cause? And 3) if it has a confidence computer base: how many lines of code should be reliable to protect user funds or data?
He warned that too many layer-2 networks, DEFI projects and “decentralized” fronts are based on hidden deadlines, instant upgrade buttons or unfortunate interfaces that can be falsified and hacked.
Even identity and confidentiality solutions are noted under his critical eye. Evidence of zero knowledge, he noted, can turn around if users always reveal their transaction history when they connect with centralized suppliers. Confidentiality, he added, must go from trafficking as an optional functionality to something that reduces the default data leaks.
It will be 10 years this month since the Ethereum blockchain was put online, and Buerin was under pressure in the past few months of the community to resolve the basic protocol problems. Otherwise, the blockchain could lose its advantage with the competitors.
For Buterin, this next phase in the history of Ethereum means the construction of systems that pass the walking test, narrow the basis of code of confidence and resist initiate attacks. This includes engineering balancing with simple and robust solutions.
“If we lose this,” he concluded, “Ethereum inevitably becomes a generational thing, and it inevitably goes as many other things have passed before.”
Read more: Vitalik Buterin offers to replace the EVM of Ethereum by RISC-V
