Ethereum
10 Years of Crypto Innovations! Here’s How Buterin Sees the Future of Ethereum!
2h45 ▪ 3 min read ▪ by Eddy S.
At the EDCON2024 conference, Vitalik Buterin unveiled the future directions of Ethereum, with a focus on innovative application development and wallet security. He presented promising projects and innovative ideas to improve privacy and accessibility for cryptocurrency users.
Ethereum’s new innovations by Vitalik Buterin!
Vitalik Buterin delivered a key speech on the future of Ethereum in the next ten years. He stressed that the priority of the crypto blockchain will now be to develop applications. Some of the already successful applications include decentralized finance (DeFi), decentralized identities (DID) with the Ethereum Name Service (ENS), DAOs and NFTs.
Vitalik also highlighted several promising projects. These include the prediction market Polymarket, the social media aggregator Firefly, the wallet Daimo, and the voting tool Rarimo. These applications illustrate the diversity and potential of Ethereum-based technologies to transform various sectors of crypto.
Vitalik also proposed several innovative ideas to improve the security and accessibility of Ethereum wallets. One of his proposals is to encrypt the private key directly into the cell phone’s chip! Thus turning the phone into a secure crypto wallet. Another idea is to place part of the private key in a regulatory-compliant custodial institution, thus providing an additional layer of security.
Vitalik also mentioned the use of zero-knowledge (ZK) proof technology to link KYC information to the wallet. This approach would ensure the privacy of cryptocurrency users while meeting regulatory requirements.
Security and Privacy: Two Requirements for Cryptocurrency Users
These proposals aim to improve the security and privacy of cryptocurrency users while facilitating the adoption of the technology by a wider audience. By combining technological innovations with practical applications, Ethereum continues to position itself as a leader in the cryptocurrency and blockchain ecosystem.
Vitalik Buterin’s speech highlighted Ethereum’s many advancements and future prospects. With a focus on application development and innovative proposals for crypto wallet security, Ethereum is well-positioned to continue to grow and innovate in the years to come.
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Eddy S.
The world is changing and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in everything that is closely or remotely related to blockchain and its derivatives. To share my experience and promote a field that fascinates me, there is nothing better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.