As the transition of the Ethereum blockchain from proof of work to proof of stake fast approaching, Vitalik Buterin the founder of the blockchain presented his vision on his future at the EthCC cryptocurrency event which took place on Thursday in Paris.
But what about it? What should we remember from this event and the various announcements that took place this Thursday, July 21? In this blog post, we are going to list the 3 key points of Vitalik Buterin’s vision for Ethereum that were presented during the event in Paris EthCC this Thursday.
3 key points of Vitalik Buterin’s vision for the future of the Ethereum blockchain
Before listing the various key points to remember, you should know that his vision is particularly oriented around security, stability and decentralization. Here are the 3 key points to remember:
- First, Vitalik Buterin asserts that the Ethereum blockchain is “ 55% complete when we have completed the merger”. He also compared this vision to that of the Bitcoin (BTC) blockchain, where some holders and enthusiasts consider the first cryptocurrency on the market to be 80% complete.
- Second, according to Vitalik Buterin, the Ethereum blockchain should “stabilize”. Especially with the transition from proof of work to the long-awaited proof of stake. Vitalik Buterin also added “at some point the pace of protocol change is going to have to slow down”. Ethereum might look like “a bit more of a system optimized for security and predictabilityand less to an ecosystem optimized to impress and dazzle people” according to the founder of Ethereum.
- Third, Vitalik Buterin commenting on the benefits of proof of stake, said that this transition was “a big change” and that there were “a lot of benefits. Moreover, Vitalik Buterin also added that people who are “pro” proof of work will always have the possibility ofuse Ethereum Classic (ETC) instead.