The cofounder of Ethereum, Vitalik Buterin, recently
discussed the highly anticipated full transition from a proof-of-work
(PoW) consensus model to proof-of-stake (PoS) as its replacement.
Buterin admitted at Hong Kong’s Startmeup HK 2021 Festival that the
transition was taking too long and highlighted that it wasn’t technical
problems but “related to people.”
Buterin: ‘If You Build a Team, It Is Important to Know Who You Are Working With
Vitalik Buterin has discussed
the anticipated Ethereum 2.0 transition during the Startmeup HK 2021
Festival in Hong Kong this past week. The Ethereum cofounder detailed
that he understood the changes were taking a long time and said that it
was mostly people deterring the improvements.
“One of the biggest problems I’ve found with our project is not the
technical problems, it’s problems related with people,” Buterin said
during his interview
with Forkast news. “Ethereum is now in a better economic position, but
it took us five years to get to where we are now. We have a lot of
internal team conflicts in these five years. If you are building a team,
it is important to know who you are working with.”
When Buterin was asked about Ethereum 2.0, he said that the
developers have been calling it by that name less and less these days.
“We actually call it Ethereum 2.0 a bit less because we want to
emphasize that, this isn’t throwing out the existing Ethereum platform
and making a totally new one. It’s a much more kind of incremental set
of changes,” the programmer remarked.
Scalability and Proof-of-Stake Are Important Says Ethereum Cofounder
Buterin further said that sharding and rollups would greatly improve
the scalability of Ethereum by a factor of 50 to 100. “The two of them
stack on top of each other so once you have rollups and sharding,
Ethereum and things on top of Ethereum will actually be able to have the
kind of scalability that the large scale enterprise applications are
expecting,” Buterin told the video host.
Buterin then explained that there’s a lot of people building and said
that the transition to PoS will be important going forward. Buterin
stressed:
There’s a lot of other things that people are building in
the Ethereum space, but the blockchain’s ability to handle all the
transactions is having a hard time keeping up with the demand, which is
exactly why all of these things that we’re working on the technology
side with scalability and proof of stake are so important.
During the end of the interview, Buterin’s conversation grazed up on
decentralized finance (defi) and the non-fungible token (NFT) space. The
Ethereum cofounder expects the defi ecosystem to continue evolving, and
he sees some unique applications coming in the future.
“The functionality and programmability that crypto and defi provides
could eventually provide the tools to do a lot of much more interesting
things,” Buterin noted.
source link : https://news.bitcoin.com/vitalik-buterin-says-people-difficulties-not-technical-difficulties-slowed-the-ethereum-2-0-rollout/
