Vitalik Buterin, one of the inventors of smart contract blockchain, took to the stage during the Ethereum Community Conference (EthCC) Discuss the network and its weaknesses. Also, how you can make it better. Buterin spoke at the Brussel event to highlight the progress the blockchain has made, and what more work is needed to maximize its offering to a rapidly growing user-base.
In front of a crowd of over 1,000 people, the keynote address covered many topics. Buterin expressed his concerns about transaction censorship. The cofounder then revealed an innovative proposal which would make a huge impact in the overall issue.
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Buterin Talks Ethereum’s Strengths, Weaknesses, and ‘Hardening’ The Network
Vitalik Buterin spoke recently on behalf of the network. Ethereum at a keynote talk. At the time, he said that he believes Ethereum is a thriving cryptocurrency. “large and reasonably decentralized staking ecosystem.”
Buterin said that this was its biggest strength. It’s also supported and backed by a community of international and intelligent people. It is not perfect, but there are still ways to improve it. Solo staking remains a very challenging task, according to the co-founder. Currently the 32 ETH is required to become a validater, and running a network becomes more complicated.
Buterin noted these issues. “are very addressable.” He discussed specific improvements which would simplify the protocol. “So if you want a robust ecosystem, it needs to be simple,” He said. “It should not have these, like, 73 random hooks and some kind of backward compatibility,” Just because Vitalik created it doesn’t mean that you should buy the product.
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Also, he expressed concern over the attacks that aim to take 51% of the market share from the Blockchain. He did note that the solution to this problem is not simple. Buterin stated it “depends on a lot of assumptions around coordination, ideology, and various other things, and it’s not clear how to do something like that as well in 10 years.”
Buterin presented a solution to the audience. Buterin noted that it is difficult to recover from an attack once the chain has been finalized. He proposed to increase the quorum requirement from 75% to 81% to avoid this.
At the end of the day, Ethereum’s leader noted that the future path was clear for the newor. “I think there’s value in really doubling down on these strengths and at the same time, recognizing and fixing our inadequacies and making sure that we actually live up to our very high standards.”
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Source: watcher.guru
