Unchained Vitalik Buterin on Ethereum's Five-Year Anniversary - Ep.183
Jul 28, 2020
Vitalik Buterin, co-founder of Ethereum, reflects on the platform’s five-year journey. He discusses the high gas fees and the complexities of ETH 2.0, raising concerns about security and monetary policy. Buterin highlights the democratic potential of proof of stake and examines risks in decentralized finance (DeFi). He delves into the Ethical challenges facing the Ethereum Foundation, including an indictment involving a staff member. Lastly, he emphasizes the need for diversity to drive long-term success and shares his vision for Ethereum's future.
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Ethereum's Evolution
- Vitalik Buterin reflects on Ethereum's growth from a small, tight-knit community to a vast ecosystem.
- Early collaborations, like with Microsoft in 2015, were monumental then but commonplace now.
Early Ethereum Development
- Buterin reflects on past decisions, suggesting a stronger initial focus on development over business aspects.
- He emphasizes the Ethereum Foundation's grant program as a positive change implemented later.
High Gas Fees
- High gas fees on Ethereum stem from high demand exceeding network capacity.
- Solutions involve increasing scalability or encouraging more efficient application usage.