Ethereum

President Donald Trump

Influencer

Donald Trump

<div class="cryptonews">
 <p class="is-style-lead">The Ethereum (ETH) blockchain needs to revive the “<a rel="noopener noreferrer nofollow" title="cypherpunk" href="https://thebittimes.com/tag/cypherpunk.html">cypherpunk</a>” 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 his blog 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 “<a rel="noopener noreferrer nofollow" title="cypherpunk" href="https://thebittimes.com/tag/cypherpunk.html">cypherpunk</a>” ideals Buterin wants to see in the future of Ethereum. 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 <a rel="noopener noreferrer nofollow" title="cypherpunk" href="https://thebittimes.com/tag/cypherpunk.html">cypherpunk</a> 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 (DEX) 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>
 <blockquote class="wp-block-quote">
  <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>
 </blockquote>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Vitalik Buterin’s new proposal would cut Ethereum’s security
 </div>
 <p>Some X users were encouraged by Vitalik’s <a rel="noopener noreferrer nofollow" title="plans" href="https://thebittimes.com/tag/plans.html">plans</a>, especially regarding cryptocurrency payments for retail clients. One of the users noted that practically no attention has been paid to this issue.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <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 https://t.co/GRcaZzJidF</p>— jacopo (@jj_ranalli) December 29, 2023
   </blockquote>
  </div>
 </figure>
 <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>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">@VitalikButerin wanna $eth make great again. All the #sol and #soy. Boys are rekt$meca mooned but $mega is the ticker which wanna make $eth great$mega timehttps://t.co/lCml4SUqJi pic.twitter.com/YUV2u4OLH0</p>— All I do Is win!!! (@Sensei_123456) December 29, 2023
   </blockquote>
  </div>
 </figure>
 <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>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <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." pic.twitter.com/cKfTWXdmu7</p>— Ignas | DeFi Research (@DefiIgnas) December 28, 2023
   </blockquote>
  </div>
 </figure>
 <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>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Vitalik Buterin pitches 3 pathways to simplify Ethereum’s PoS model
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/vitalik-buterin-outlines-plans-to-make-ethereum-cypherpunk-again-tbt75079.html">https://thebittimes.com/vitalik-buterin-outlines-plans-to-make-ethereum-cypherpunk-again-tbt75079.html</a></p>

Vitalik Buterin outlines plans to ‘make Ethereum cypherpunk again’

TheBitTimes

Other articles published on Dec 29, 2023

Economic Earthquake in 2024? Peter Schiff’s Warns of Financial Crisis Worse Than 2008

Determinant Finance Announces Upcoming Presale: A New Frontier in DeFi

2024 May Pull More Exploiters Into The Cryptocurrency Market

Ethereum Price Prediction as New Bearish Pattern Threats a Dive Below $2000

Senior Crypto Analyst Predicts Potential Surge for Solana

Bitcoin Gets Green Light in Islamic Fatwa

Join our free newsletter for daily crypto updates!