The creator of the second most important crypto network gave a talk at the Usina del Arte, before a packed auditorium. What’s coming in the industry
Minutes after 20, when Vitalik Buterin stepped on stage, ovation that came down from the stands of the auditorium of the Usina del Arte, seemed to surprise the Russian genius.
After a brief presentation, the talk of the creator of Ethereum, the most important cryptocurrency next to Bitcoin (BTC), created so far.
“Every day the number of people who use the blockchain grows. I knew that the Argentine public was very enthusiastic. I knew that there were excellent projects created in Argentina, when I investigated on the Internet,” Buterin said, in one of his first appraisals at the event .
He confessed to being “very impressed” with everything that happens in Argentina and praised the Ethereum Community present: “It is an Ethereum community with a lot of energy, with many projects. It is definitely exciting.”
And then He referred to the situation in the country and the compared to the innate talent of local developers: “The Argentina it has little economic capacity but great talent capacity, “he emphasized.
And he added: “In countries with (high) inflation like Argentina, they can really know how money works.” “Argentina is a country with a low capacity of its Government, but with a high capacity of its people,” he added in another passage of the talk.
Buterin explained that “currently decentralized autonomous organizations (DAOs) were first undervalued, but that changed.” “Now those same organizations are overrated,” he remarked. And he clarified: “We hope that in the future they will be correctly valued.”
When asked about the possible regulations that the governments intend to implement, the Russian considered that “there are different things that governments can do, beyond accepting cryptocurrencies“.
Buterin in action: the Russian displayed all his knowledge throughout the talk at the Usina del Arte
And he sentenced: “(those things) must happen, but not when a politician encourages them, but when it has roots in the (crypto) community.”
When asked about what there will be beyond decentralized finance (DeFi), Buterin was blunt: “I hope that the ENS (a kind of alias in Ethereum) continue to grow, they have the highest growth after DeFi“.
He also referred to future from scalability and defined it as “sparkly“.” Rollups are the present, “he pointed out bluntly. In that sense, he specified that “hoy Ethereum it reaches 15 to 45 transactions per second “, although he specified that” if it achieves scalability, it will reach 15,000 to 45,000 transactions per second. “
Sobre Proof of Stake
He remarked that around the “scalability of “Ethereum“There are a lot of things that are happening: “The Proof of Stake transition is very important for network efficiency,” he said.
However, he admitted that “If Ethereum is more scalable and not decentralized, it will be a failure.” “But I am optimistic for the people developing on Ethereum,” he said. “Even if Ethereum becomes more decentralized and scalable, Bitcoin will still be Bitcoin and there will be people who use it,” he stressed.
“Proof of Stake will be one more step in decentralization. If you are a wallet developer, find out how to improve decentralization, “he advised. He added: “Proof of Stake is less objectionable by governments than mining, because electricity makes you more visible. It is easy for governments to detect and turn off.”
“I’m not a fan of validating Proof of Stake on cell phones, because there are many second-hand. Computers will be more efficient, “he added.
For Buterin, “con Proof of Stake el protocolo de Ethereum it will become simpler, more efficient and safer. “” It will not be necessary to carry seven years of history, “he predicted.
On the other hand, he referred to the future of Ethereum: “There are Ethereum projects that today sacrifice decentralization for scalability.” “That will change with ETH 2.0,” he emphasized.
He opined that “decentralization is not a lack of leadership.” And he argued: “Leaders will not say what to do, they will respect what people do. That will naturally bring new ideas to life.”
Aware of the importance of the cryptocurrency he developed, Buterin slipped that “sIf I disappear tomorrow, even if I have no plans to do so, Ethereum will continue to be a great blockchain “
Vitalilk Buterin from the stands of the Usina del Arte. The Russian managed to fill the entire auditorium for the historic talk.
In that sense, he predicted that “Blockchain will offer greater advantages to poor countries than to rich ones.” “Small economies will benefit from decentralization. Not every game will be won by large countries,” he stressed.
And he referred again with words of praise for the country: “Argentina has great talent and is not at the center of the traditional economy. But great projects and teams appeared. Crypto is a great opportunity for small countries.”
When asked about a mistake, Buterin was sincere: “My big mistake is that I did not project what the NFTs could be “, the non-fungible tokens that are currently a real sensation in much of the planet. In that sense, he emphasized that “I am very happy that NFT because they add value to people as a cultural asset, although it is difficult to find business models.”
“If the NFTs add more functionalities and these virtual items can be used in a metaverse that we are co-creating, I think it will have a significant value,” he anticipated.
Buterin also surprised the charge against Solana developers: “Solana only copy the Ethereum Virtual Machine EVM, but they could make a contribution to the Ethereum ecosystem.” “It’s an open invitation,” he lashed out.
Fascinated with biotechnology
The Russian was also interested in biotechnology and how scientists on the planet quickly made vaccines to combat the global pandemic of coronavirus COVID-19. “People care more about the results of action than the consequences of inaction. Biotechnology will help to eliminate demographic problems,” he estimated.
“I am really very excited about biotechnology. For the problem of demographic expansion, but there are great minds working on going to Mars or making agriculture more efficient,” he said.
He also highlighted the great technological advance that science fiction did not contemplate: “Science fiction imagined flying cars, but we don’t have them yet. But computers are very small and powerful than what science fiction imagined,” he slipped.
About illegal activity
Buterin stressed that from the community “we cannot solve all the problems, such as illegal activity.”
“We cannot support scams. But as a community we must fight them, especially in countries without financial education,” he stressed.
He also referred to the omnipresence of social networks: “Social networks are a place where everything works with user content. Twitter has a lot of good things, but it encourages everyone to yell at each other,” he estimated.
On the other hand, he considered that “the crypto space is global”. “If you have a profitable project you have to go out into the world. There is no other,” he said.
“Stablecoins are OK, but we need more work on decentralization, privacy, DAO, real estate fractionation. Decentralization must go beyond money,” Buterin said.
Also, I trust the Web3 and its decentralization. “People believe that only money should be decentralized. It is not like that,” he said.
He estimated that “in a world where so many people need to collaborate, technology can make things happen faster“.
He anticipated that if one day in Argentina a “monkeycoin for charity” is developed, he will be in charge of “supporting it.”
Cheered several times throughout the talk, he was only whistled when he chose to choose Mexican tacos instead of Argentine asado, when asked by the audience.
However, Buterin was encouraged to describe the Argentines: “They are very friendly, intelligent and highly motivated people.”
“They are very excited with the idea of solving problems with cryptocurrencies. I have never felt like a rock star like here. How did I feel? Oh, yes,” he completed.
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NFT, DeFi and the future of Ethereum: the definitions of Vitalik Buterin in his first talk in Argentina