Vitalik Buterin | Ethereum's Past, Present, Future & Thoughts on Türkiye
Nov 27, 2023
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Vitalik Buterin, co-founder of Ethereum, discusses Ethereum's roadmap updates, scaling challenges, and the future of Ethereum. He also talks about the potential of Turkey as a crypto hub, his favorite Turkish dish, and his thoughts on DeFi, stable coins, and fractional ownership.
Ethereum's future looks bright as it tackles challenges and brings about positive changes.
Ethereum's multiple scaling solutions make it a scalable platform ready for diverse use cases.
Deep dives
Ethereum's Exciting Future
Ethereum is moving forward with the merge from proof of work to proof of stake, scalability solutions like roll-ups and dank sharding, and advancements in privacy. The ecosystem is expanding with decentralized social platforms, improved wallet security, and more. The focus on different applications and use cases brings pluralism to Ethereum, allowing for diverse narratives and experimentation. The messaging for Ethereum can improve by emphasizing the platform's capabilities for programmable money, ultrasound money, a world computer, and a general-purpose blockchain. The aim is to maintain innovation while ensuring the fundamentals and strong ecosystem are in place for successful applications. Ethereum's future looks bright as it tackles challenges and brings about positive changes.
Evolving from Infrastructure to Use Cases
The shift from an infrastructure focus to use case-driven applications in Ethereum is a natural progression. Ethereum's multiple scaling solutions, including layer two options, make it a scalable platform ready for diverse use cases. While Ethereum's messaging may seem convoluted compared to Bitcoin's digital gold narrative, Ethereum's pluralism and openness embrace a wider range of possibilities. Ethereum's messaging can be improved by highlighting concrete user-focused applications, emphasizing the flexibility and programmability of the platform, and showcasing the ability to address various economic, social, and technological needs.
Thoughts on DeFi and Future Innovations
From a broader perspective, Ethereum's DeFi space should prioritize simplicity, robustness, and user safety over chasing high yields. Stablecoins and real-world asset integration, such as stocks and real estate, present promising opportunities for DeFi. Fractional ownership and fractional real estate investments can provide a healthier approach to real estate ownership. Protecting user wallet security, improving oracle reliability, and refining liquidation mechanisms are essential for creating a reliable DeFi ecosystem. Focusing on these components and delivering globally accessible basic financial functions will contribute to the continued growth and success of DeFi.
This conversation between The Defiant and Vitalik Buterin was recorded during Devconnect 2023 in Istanbul.
Chapters0:18 First time in Türkiye?
1:20 Significance of crypto in Türkiye
3:40 Key takeaways from Türkiye
4:56 Türkiye as a crypto hub
7:20 Vitalik's favorite Turkish dish
8:25 Ethereum roadmap update
12:03 Can the roadmap be dynamic?
14:25 Dencun upgrade
16:34 Rollup risks & costs
18:25 Scaling rollups
19:30 UX problems
22:27 Ethereum Security
23:25 Solution to centralized servers
26:53 Client centralization
33:18 Scaling with Plasma
39:50 L2 fragmentation
42:02 Sharding / Danksharding
44:40 Future of Ethereum
47:12 Vitalik responds to Anatoly
51:42 Ethereum's core message
56:09 Thoughts on DeFi
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