{"id":11900,"date":"2024-03-22T17:47:24","date_gmt":"2024-03-22T15:47:24","guid":{"rendered":"https:\/\/forklog.com\/en\/vitalik-buterin-the-next-five-years-are-crucial-for-ethereum\/"},"modified":"2024-03-22T17:47:24","modified_gmt":"2024-03-22T15:47:24","slug":"vitalik-buterin-the-next-five-years-are-crucial-for-ethereum","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vitalik-buterin-the-next-five-years-are-crucial-for-ethereum\/","title":{"rendered":"Vitalik Buterin: The Next Five Years Are Crucial for Ethereum"},"content":{"rendered":"<p>The next five years are of &#8220;crucial importance&#8221; for the widespread adoption of Ethereum and its acceptance in the &#8220;real world,&#8221; according to Vitalik Buterin.<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/cz3VtJCHr1w?si=HWrWP2u-1TaIiW12\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>He noted that in recent years, stablecoins have become the primary use case for cryptocurrencies, as they facilitate seamless cross-border payments and offer protection against inflation for users in countries with unstable fiat currencies.<\/p>\n<p>Therefore, low fees and well-designed interfaces are crucial for attracting new users to &#8220;stablecoins,&#8221; Buterin believes.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Historically, blockchain lacked such features, but they will emerge in the coming years. We already have L2, and we continue to move forward. I expect Ethereum to be a leading player in making stablecoins accessible to people, ensuring they are truly open, decentralized, and without intermediaries,&#8221; he added.<\/p>\n<\/blockquote>\n<p>The Ethereum co-founder suggested that non-financial applications will significantly impact mass adoption. Buterin highlighted the success of decentralized social platforms like Farcaster and Lens as alternatives to X and Facebook.<\/p>\n<p>He also emphasized the growing interest in identity and verification protocols within Ethereum amidst rising concerns about the threat of AI and deepfakes.<\/p>\n<p>Looking ahead, Buterin is enthusiastic about the <a href=\"https:\/\/forklog.com\/en\/news\/vitalik-buterin-highlights-the-benefits-of-verkle-trees\">Verkle trees<\/a> feature, which will be implemented in the upcoming Ethereum hard fork, Pectra.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;With Verkle trees, nodes won&#8217;t need to store the state locally. And thanks to <a href=\"https:\/\/eips.ethereum.org\/EIPS\/eip-4444\">EIP-4444<\/a>, most of the history won&#8217;t need to be stored. The data volume required to run a node will decrease from several terabytes to being able to run on RAM,&#8221; the developer explained.<\/p>\n<\/blockquote>\n<p>The future implementation of zk-SNARK will further reduce the data transmission burden on nodes, he clarified.<\/p>\n<p>Buterin believes that in the long term, running a node will resemble &#8220;a few very simple computations that can easily be performed in the background on any computer, possibly even on a phone or in a browser.&#8221;<\/p>\n<p>Earlier, the Ethereum co-founder drew attention to the issue of network centralization in the staking sector. He noted that Lido, Coinbase, and Binance have gained an &#8220;excessive market share.&#8221;<\/p>\n<p>Previously, Buterin also proposed a method to protect Ethereum from quantum computers through a simple &#8220;recovery fork.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The next five years are of &#8220;crucial importance&#8221; for the widespread adoption of Ethereum and its acceptance in the &#8220;real world,&#8221; according to Vitalik Buterin. He noted that in recent years, stablecoins have become the primary use case for cryptocurrencies, as they facilitate seamless cross-border payments and offer protection against inflation for users in countries [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,200],"class_list":["post-11900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"77","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11900"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11899"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}