Vitalik Buterin: the crypto opportunities of 2023

A bright future for cryptos? – Many challenges await us in 2023. endless possibilities offered by the blockchain are exhilarating and could well revolutionize the world sooner than we think. Mass adoption of wallets, inflation-resistant stablecoin, connection to secure websites via Ethereum: Vitalik Buterin is not short of ideas.

The Merge: there will be a before and an after

A few months back, the last major Ethereum update, The Merge, had just been successfully implemented. Today, Vitalik Buterin take stock of this year 2022 unprecedented in many ways. Ethereum co-founder projects also towards the future and willingly lends itself to the game of guessing about the next revolutions.

“The Merge has been an event Ethereum has been waiting for since its inception. […] The blockchain has reduced its energy consumption by 99.9%. We have thus gone from a level of electricity consumption similar to that of Austria, to a level close to that of San Marino or the Vatican. »

Vitalik Buterin

Even more surprising, because not anticipated at first glance by public opinion: theincrease of the speed of transactions. Don’t you find that using the Ethereum network is smoother since The Merge? Of course, the bear market gives a boost with a sharp decrease in demand. In addition, the network is naturally less crowded than in a bull market. However, Vitalik Buterin highlights the role of technological change operated in September with the switch to Proof of Stake (PoS).

Via The Merge, a small revolution took place at the heart of the Ethereum process according to Vitalik Buterin.
The Merge, the revolution that prepares Ethereum for future mass adoption according to Vitalik Buterin

“People don’t realize it, but The Merge has reduced transaction time on the Ethereum blockchain. […] On average, it now takes 6 seconds for the transaction to be included in a new block. […] It’s day and night compared to before. It is already quite competitive compared to credit card payment systems. »

Vitalik Buterin

According to Vitalik Buterin, 2023 will also be the year of roll ups that will bring the blockchain into a new era of scalability and allow it to deploy its full potential.

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Revolutions in 2023 according to Vitalik Buterin

The adoption of the various blockchains was especially experienced in 2020 and 2021, with the emergence of a whole panoply of newcomers. Avalanche, Solana, MultiversX, … Going forward, adoption is likely to be layered above, at the application level. Moreover, after theDeFi explosion between 2020 and 2021, the conclusions are clear. The crypto sector needs to unite behind a fifteen strong candidateslike Aave, rather than being scattered over thousands of more or less secure platforms.

Nevertheless, for Vitalik Buterin, despite the extraordinary recent advances, there is still lots of things to do. One thing is certain: web3 developers should not be out of work in the next 10 years.

“If you manage to design a digital wallet used by 1 billion users, it will be a huge opportunity. If we succeed in developing a stablecoin that can weather all storms, even dollar hyperinflation […] it will also be a huge opportunity. »

Vitalik Buterin

If we manage to integrate a authentication system to all websites via the ethereum network, it will also be a revolution in itself. Because this would prevent individuals from leaving the keys to their identity in the hands of GAFAMsuch as Facebook, Google or even Twitter; “these self-proclaimed kings of the internet”.

There are still many very promising advances to be born by relying on the blockchain, according to Vitalik Buterin. But the more technology advances, the more complex it becomes to implement new, ever more advanced features. And yet it is through such schemes that the crypto ecosystem will really be able to revolutionize society and the world around us.

To keep your cryptos, nothing beats a Ledger wallet. The Nano S and Nano X provide security and ease of use. Indeed, they are compatible with the vast majority of cryptos and networks. They are an absolutely essential alternative to all exchanges that offer to hold your assets for you. Remember, “Not your keys, not your coins” (commercial link)!

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