Since he saw the true potential of the technology blockchain, many computer organizations, federal entities and enterprises, began to experiment and design their own networks. Which belong to projects that promise to provide big solutions in different sectors. It is for this reason that, many expect great results; however, recently Vitalik Buterin reported that he is not part of that percentage. Certainly, there are news really interesting, for what that is worth to know more about the reasons which lead to such conclusions.
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The interview with Vitalik Buterin: Opinions and statements relevant
At the Samsung Developer Conference 2019, Vitalik Buterin was interviewed by John Jun; who asked him about various topics, among them his project Ethereum, as well as others. In this sense, Buterin talked about the challenges and difficulties presented during the creation and development of Ethereum; affirming that, this type of project is more social than technical. In this sense, it is worth mentioning that the exact words of the Russian programmer, were the following: “Some wanted to do things for profit, others wanted to lead Ethereum in a direction encrypted Google. Definitely, the project is in a better place now, but to achieve this requires challenging situations. Networks blockchain and the cryptocurrencies, are more related to people than to technology.
Why the blockchains of large firms are not reliable?
The development of many projects blockchains, presented by companies, it is not too reliable, the creator of Ethereum. In fact, reported that it is not optimistic for projects such as Libra, or the like. In this sense, their statements were: “I find it very difficult to decentralize this type of chains, enough for people to trust them. We have seen things such as Pound, in addition to other projects of this type; they all seem to collide with a wall, it seems I have fifty knots instead of one, should make people to trust you”. Certainly, you have an excellent point and that is, Vitalik is not the only one who is wary of projects such as Libra; since even federal organizations have decided to evaluate it before allowing its use.
Contracts smart to increase the security
Another of the topics covered in this interview, was the proposal Buterin on contracts with smart to improve the safety; specifically in digital wallets. What is proposed is a method of recovery of wallet share, which operates on a contract smart to store funds and protect it with a key; in addition to the other five that will be in the power of five other individuals. In this way, if any of the users could not access, because you have lost your key; the smart contract could be reprogrammed, and then recover the wallet, this is done through three of the five existing keys. The reason why Vitalik Buterin you want to implement this alternative, it is because he thinks that the accounts protected by a single key, are not good enough.
Technology 5G could support the scalability of the Blockchain
One of the interesting points, discussed by Buterin, was your opinion of how the next Internet connections, such as 5G, could increase the scalability of the networks of chain blocks. This is because, the limitation of connection and data, it is the only border that could stop the advance of the technology blockchain. Therefore, of the view that if it is possible to improve the networking of existing connection and to increase its capacity, the nodes of the blockchain will have a greater performance. This is because, they will be able to process more activities, interact with more nodes, and provide the best results to the projects to which they belong. On more than one occasion, it has been shown that the technology blockchain is really promising; so much so, that it is possible to keep many next years and this, is something known by Buterin. It is for this reason that, do not hesitate to say that the chains of blocks are maintained in development and will be much more successful in the future, especially those that are public.
How affect these statements to the tech sector?
This interview has provided the opportunity to learn important opinions from one of the computer more relevant today; clearly, between his statements are different thoughts, which can affect both positively and negatively in the technology sector. This is because, as well as claiming that the use of blockchain for the future was an excellent decision; it is also criticising the way in which various projects use the technology, since they do not offer total transparency, so that they don’t give you confidence. However, it is important to note that you simply are beliefs of an individual and that unlike Buterin, there are people who do maintain a positive approach in what refers to projects blockchain of large companies. The following two tabs change content below. I am a young man from Venezuela 18 years, lover of technology, innovation, and economic events that govern the world. One of my passions are cryptocurrencies.