The Future of Ethereum | Barnabé Monnot, Co-Lead of Research at the Ethereum Foundation
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Smart Contract Verification Pyramid
Monnot describes a pyramid model for smart contract usage. At the top are users who meticulously verify code and prioritize privacy. The best defense is ensuring that all users can access the details to be intermediary-free. While this isn't mainstream, it keeps the system honest; larger apps can't build on unverified code without raising flags. The availability of information, even if costly to obtain, is crucial for maintaining a healthy system. Users should always have the option to exit if they find issues, preventing intermediaries from gaining a monopolistic position because the public blockchain allows for scrutiny and prevents widespread use of scam contracts.
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