Vitalik Buterin, the co-founder of Ethereum, spoke at a conference in Buenos Aires, Argentina.
Despite the randomness of his visit, Vitalik was greeted with a warm welcome, including seat-downs with some of the country’s most prominent figures. Former President Mauricio Macri was among those present, hailing crypto as a forward-thinking technology.
Buterin expressed his admiration for the rapidly rising Ethereum community in Argentina. He praised Argentine-based initiatives such as Nomics, Proof of Humanity, OpenZeppelin, and Kleros. He stated that the country is in desperate need of blockchain technology while capitalizing on its incredible talent pool.
Vitalik’s Stance on the Future of Ethereum
Vitalik also discussed the advantages of the Proof of Stake protocol over the Proof of Work protocol. Proof of Work uses a lot of energy and mining material, making it subject to government censorship. He stated that he intends to switch to PoS in the following year. He also challenged wallet developers to accept the challenge and eliminate Infura centralization.
Vitalik also discussed his thoughts on decentralization. He clarified that the approach does not rule out the existence of leaders. It suggests that those leaders are unable to make decisions on their own and must seek feedback from all stakeholders. Furthermore, new leaders may arise. Ethereum, he feels, has been increasingly decentralized over time.
DAOs, according to Vitalik, are finally ready to be implemented. He projected that the famous Ethereum Name Service will grow in popularity (ENS). He talked about his new plan and the phases it contains the verge, the purge, the surge, the splurge, and the merging.
Is Ethereum Doomed?
The production crew answered queries on Twitter using the hashtag #AskVitalikBA, and one of them received the following response:
”If Ethereum fails to scale, then Ethereum definitely failed. If Ethereum succeeds at scaling, but it turns into something centralized, then I think it also failed. If Ethereum succeeds at scaling and at being decentralized as a blockchain, but nothing interesting gets to build on top of it and no one actually gets any value from it, then it also fails.”
Even if Vitalik disappeared, he felt certain that Ethereum would remain stable. He stated that the coin does not require his support to be stable.
Despite the fact that his vision and command are the two factors propelling this cryptocurrency forward, he is convinced that it would not suffer if he departed. He is certain that Ethereum’s basis is strong enough to resist any flaws.