During the annual Ethereum Community Conference (EthCC), Ethereum co-founder Vitalik Buterin discussed important changes in the crypto industry and relevant issues that require attention.
Crypto Industry as Mainstream
In his speech, Buterin stated that the crypto industry has reached an 'inflection point', becoming part of the mainstream due to support from large institutions and politicians like U.S. President Donald Trump. Buterin noted that cryptocurrencies are no longer a niche area, and the approach to building new systems must change.
Areas for Improvement in Crypto
Buterin highlighted several aspects that need improvement in the crypto industry. First, he pointed out the issue with some Layer 2 solutions and decentralized exchanges (DEX) that may have hidden vulnerabilities, undermining trust in blockchain technology. Second, he noted weak points in the interfaces of decentralized applications (dApp) which can be susceptible to attacks. He also addressed shortcomings in current governance models of DAO token holders and the risks associated with zero-knowledge (ZK proofs).
Future of Decentralization and Privacy
In conclusion, Buterin emphasized the need to consider privacy as a crucial aspect in project development rather than an add-on feature. He warned against treating data retention lightly and urged for more comprehensive solutions to protect users' personal information.
Vitalik Buterin's speech at EthCC highlighted the importance of change within the crypto industry and the need for improvements across several key areas to enhance trust and security in technologies.
