Vitalik Buterin made remarks in a non-profit podcast that is being used to help solve the problems in the world of digital currencies and technology. Vitalik talked about the launch of phase zero of Ethereum 2.0 by next year, and he is pretty confident about it. However, he is not confident about the incentives that will help the users to choose the blockchain.
Vitalik explained how the technical aspects of the Ethereum’s magnum opus were in hand and how the network aims to run “tens of thousands of transactions per second.” He was worried that all these are theories and what would happen if they were implemented in real life.
He mentioned how he feared whether the people would like to use the newer protocol of proof of stake in which the network chooses the miners. Or whether they will use a third-party service to take care of their investments and how they manage them. He raised the concern of people getting hacked through Binance and how decentralized it actually will be.
Vitalik explained how the Ethereum developers had gained more knowledge about the technology by attending events and how they have a plan for Ethereum 2.0. The strategy they are planning to use for Ethereum 2.0’s launch is to provide with the proof-of-stake first and then prove itself to the people first. Once this is done, they will move on to sharding which will help the platform to be faster than any other platform.
Vitalik’s plans for Ethereum are very ambitious, and his excitement for the platform can be heard in the podcast as he talks about the latest version of Ethereum. He believes that Ethereum 2.0 will be the world computer and that people associate blockchains with cryptocurrency but its much more than that.
He also spoke about the process and his interest in the quadratic funding, a way of funding projects for the public good. He talked about how several problems can be solved with the help of quadratic voting, decision making procedure where participants express how they feel about an issue instead of just selecting what they are in favor or opposed to it.
Vitalik believes that stable coins are more stable than they think. He thinks that if we look at the technical point of view, Libra is just the same as Ethereum. He stated that Libra’s base layer security is not up to the mark, and he feels bad for Facebook for making attempts to move away from hegemony and failing at it.