“Speaking at Ethcc in France, Ethereum’s Founder SAID DEELOPERS NEED TO STAY TRUE to CRYPTO’s Principles Amid A Wave of Corporate Blockchain Adoptation.”, – WRITE: www.coindesk.com
Speaking in Front of A Packed Room at the Ethereum Community Conference, In Cannes, France, Buterin Used His Keynote to Deliver A Clear-Eyed Reality Check: Decentral Edule, Mustzation, He ARGIVATION To a concentroe set of user guarantees – or risk bework Another Hollow Promise.
As the Industry Has Gone Mainstream with Endorsments from Major Corporations and Political Figures, Builders Need to Return to the Ecosystom’s Key ” Buterin Said.
In his typical Jeans and Relaxed Dark T-Shirt Uniform, Buterin Laid Out Practical “Tests” that he Said Every Crypto Project Should Pass. THESE INCLUDE 1) THE WALK-AWAY TEST. If the company behind and application disappers, do USers keep their assets? And 2) The Insider Attack Test: How Much Damage Can Rogue Insiders or Compromised Front-Ands Cause? And 3) WHETHER IT HAS A TRUSTED Computing Base: How Many Lines of Code Must Be Trusted to Protect USERS ‘FUNDS OR DATA?
He Warned that Too Many Layer-2 Networks, Defi Projects and “Decentralized” Front-Ands Rely on Hidden Backdoors, Instant Upgrade Buttons OR Hth Intecure.
Even Identity and Privacy Solutions Came Under His Critical Eye. Zero-Knowledge Proofs, He Noted, Can Backfire If Users Still Reveal Their Entire Transaction History WHEN SIGN IN Kentralized Providers. Privacy, He Added, Must Flip From Being Treated As An Optional Feature to Something that Reduces Data Leaks by Default.
It Will Be 10 Years This Month Since the Ethereum Blockchain Went Live, and Buterin Has Come Under Pressure Over The Past Few MONTHS FROM The Community to Address Core Protocol Issuesues. If not, The Blockchain Could Lose Its Edge to Competitors.
For Buterin, this Next Phase in Ethereum’s History Means Building Systems that Pass the Walk-Away Test, Shrink The Trusted Base of Code and Resist Insider Attacks. This Includes Balanking Engineering with Simple, Robust Solutions.
“If we lose that,“ he concluded, “Ethereum Inevitably Just Becomes A Generational Thing, And Itvitably Passes Like A Lot of Other Things have passed before.”
Read More: Vitalik Buterin Proposes ReplaCing Ethereum’s Evm with Risc-V
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