Blockchain Ethereum (ETH): Vitalik exposes its contradictions

Blockchain Ethereum (ETH): Vitalik exposes its contradictions

Recently, Vitalik posted on his Twitter account some contradictions in his thoughts and values. He thinks that certain points still stir his thoughts, but have not been resolved to date. His tweets made many people react on the various subjects exposed.

Vitalik’s tweets about his contradictions

Vitalik’s tweets about his contradictions

Vitalik first exposes his contradictions and thoughts regarding the Ethereum blockchain. He thinks that the latter could become as stable as that of Bitcoin in the long term. This requires many active changes in the short term. In this same line, he also wants Ethereum to be able to become a Layer 1 that can survive extreme circumstances. However, there are still applications on this ecosystem that are based on fragile assumptions.

Moreover, on the political level, Vitalik also brings his different points of view. He is a follower of decentralization and democracy. However, on certain specific political points, the intellectual elites have more sensible opinions than those of the people. However, it is not easy to take their side. In this way, countries should focus on more regulated policy experiments, such as the cryptocurrency market. To achieve this objective, governments must take the time to understand and analyze the issues. Whether for blockchain technology or more in detail vis-à-vis decentralized finance for example.

In another time, he also talks about the improvement of cryptocurrencies and the ecosystem in certain areas. First of all, he wants to simplify the first layer solutions as much as possible, while wanting to simplify the entire ecosystem. Then, he also expresses his aversion to modern blockchain applications, when they are the ones that maintain the stability of the cryptocurrency economy. And finally, he thinks cryptocurrency should go beyond finance. But the latter currently remains the most successful category of crypto application to date thanks to decentralized finance.

Lots of things to improve

Through its myriad of statements, it goes without saying that certain points can participate in the evolution of cryptocurrencies.

In terms of policy, governments should adopt more radical rules, especially in terms of the regulation of cryptocurrencies. In some countries, regulation of the sector is more or less unstable. However, it would be necessary to provide maximum security for the actors in this field, by emphasizing democracy and decentralization. In this way, it could easily develop financial activities through cryptocurrencies. This solution could lead to better economic health on a large scale.

The simplification of Layers 1 is also an interesting project, making the ecosystem more intuitive than it already is. This will still lead to the complexity of the other layers, in particular the points which could not be treated in the first layer. The goal of making the ecosystem simpler.

Conclusion

We can think that Vitalik’s thoughts can bring real changes in the world of crypto. Indeed, on certain points, he is not wrong, and these are things that it is possible to improve in the long term. Could his tweets reach crypto specialists and different governments?

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Emile Stantina

Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was obvious. The blockchain is surely the universal tool of tomorrow.

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