Ethereum

President Donald Trump

Donald Trump

<p class="is-style-lead">The Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) blockchain needs to revive the “cypherpunk” revolution envisioned for the network in its early days.</p> 
<p>The co-founder of the second largest cryptocurrency by capitalization, Vitalik Buterin, published a new post on <a href="https://vitalik.eth.limo/general/2023/12/28/cypherpunk.html" target="_blank" rel="noopener">his blog</a> entitled “Make Ethereum Cypherpunk Again” that lists several ways to improve the network.</p> 
<p>According to Buterin, Ethereum was originally intended to be a “public decentralized, shared hard drive” that could use peer-to-peer messaging and file storage. However, this vision began to fade in 2017 with the turn towards the “financialization” of the protocol, Buterin states. </p> 
<p>Decentralization, open participation, resistance to censorship, and trustworthy neutrality are among the “cypherpunk” ideals Buterin wants to see in the future of <a href="https://crypto.news/tag/Ethereum/">Ethereum</a>. He emphasized that rollups, zero-knowledge proofs, account abstraction, and second-generation privacy solutions that have become more common on the network, tenets that support the core cypherpunk values. </p> 
<p>Buterin also said he was impressed by some of the developments created to solve the industry’s biggest problems. He called decentralized exchanges (<a href="https://crypto.news/tag/dex/">DEX</a>) that provide improved tools for protection positive industry developments, mentioning Cowswap, Flashbots Protect, and MEV Blocker that helped limit “sandwich attacks” on Ethereum users.</p> 
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 <p>“Ethereum is a dark forest where on-chain traders are constantly vulnerable to getting exploited […] This is also true in other ways: smart contracts regularly get hacked, users’ wallets regularly get hacked, centralized exchanges fail even more spectacularly, etc.”</p> <cite>Vitalik Buterin</cite>
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<p> You might also like: <a href="https://crypto.news/vitalik-buterins-new-proposal-would-cut-ethereums-security/"> Vitalik Buterin’s new proposal would cut Ethereum’s security </a> </p> 
<p>Some X users were encouraged by Vitalik’s plans, especially regarding cryptocurrency payments for retail clients. One of the users noted that practically no attention has been paid to this issue.</p> 
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   <p lang="en" dir="ltr">Thank you for highlighting consumer crypto payments. It does feel like I’m the only one talking about it every day.<br><br>The good news is we’re also building it, and it works great <a href="https://t.co/GRcaZzJidF" target="_blank">https://t.co/GRcaZzJidF</a></p>— jacopo (@jj_ranalli) <a href="https://twitter.com/jj_ranalli/status/1740528705112576325?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 29, 2023</a>
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<p>Another user compared Vitalik’s statement with the election campaign of former U.S. President Donald Trump and proposed creating a new token with the ticker MEGA (Make Ethereum Great Again) in support of Ethereum.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@VitalikButerin</a> wanna <a href="https://twitter.com/search?q=%24eth&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$eth</a> make great again. All the <a href="https://twitter.com/hashtag/sol?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#sol</a> and <a href="https://twitter.com/hashtag/soy?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#soy</a>. Boys are rekt<a href="https://twitter.com/search?q=%24meca&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$meca</a> mooned but <a href="https://twitter.com/search?q=%24mega&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$mega</a> is the ticker which wanna make <a href="https://twitter.com/search?q=%24eth&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$eth</a> great<a href="https://twitter.com/search?q=%24mega&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$mega</a> time<a href="https://t.co/lCml4SUqJi" target="_blank">https://t.co/lCml4SUqJi</a> <a href="https://t.co/YUV2u4OLH0" target="_blank">pic.twitter.com/YUV2u4OLH0</a></p>— All I do Is win!!! (@Sensei_123456) <a href="https://twitter.com/Sensei_123456/status/1740589857469309183?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 29, 2023</a>
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<p>Influencer Ignas from DeFi Research posted a photo of Buterin in front of a poster with Justin Sun, the founder of the Tron network, joking that the place of the most decentralized ecosystem has already been taken.</p> 
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   <p lang="en" dir="ltr">"Background: the humble Tron founder and decentralization pioneer Justin Sun bravely leading forth the coolest and most decentralized crypto ecosystem in the global world." <a href="https://t.co/cKfTWXdmu7" target="_blank">pic.twitter.com/cKfTWXdmu7</a></p>— Ignas | DeFi Research (@DefiIgnas) <a href="https://twitter.com/DefiIgnas/status/1740517540223414272?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 28, 2023</a>
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<p>According to Buterin, “the early vision of ‘web3’ […] is a different way of thinking about what Ethereum is: […] a set of technologies that could together form the base layer of a more open internet stack.”</p> 
<p> You might also like: <a href="https://crypto.news/vitalik-buterin-pitches-3-pathways-to-simplify-ethereums-pos-model/"> Vitalik Buterin pitches 3 pathways to simplify Ethereum’s PoS model </a> </p>

Vitalik Buterin outlines plans to ‘make Ethereum cypherpunk again’

crypto.news

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