The cryptocurrency industry pays insufficient attention to wallet security. Ethereum co-founder Vitalik Buterin voiced this view at the laBITconf 2020 blockchain conference.
At this moment, two referents of the #crypto ecosystem in an exclusive interview ⭐@VitalikButerin & @aantonop live streaming #LABITCONF2020 pic.twitter.com/ZMK8HkmWrw
— LABITCONF (@laBITconf) December 10, 2020
Buterin noted that wallets remain difficult to use — reducing their security for technically unsophisticated users.
“It’s still fairly easy to lose $200,000 if your wallet breaks. I have a theory that we don’t discuss this problem enough because no one wants to admit losing $200,000. If you admit it, you’ll look like an idiot,” said the Ethereum co-founder.
In his view, silence on wallet-security matters creates the impression that there is nothing to worry about. However, such a stance could push people toward centralized solutions in the future, Buterin concluded.
Earlier, Ethereum co-founder spoke positively about central bank digital currencies (CBDCs). With their emergence, he expects macroeconomic simplification and easy exchange of CBDCs for crypto assets.
As reported, the Phase 0 launch of Ethereum 2.0 occurred on December 1. A week later, Buterin reported the transfer of 1.02% of issued ETH to the deposit contract of the second version of the protocol.
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