Vitalik Buterin stated that for Ethereum (ETH) to be successful, it must complete three important transitions.
Ethereum founder Vitalik Buterin published an important article about the project. Posting on his blog, Buterin touched on three critical transitions needed for Ethereum to succeed.
Buterin listed three simultaneous transitions that Ethereum must go through for success: layer-2 pass, wallet security pass, and privacy pass.
Vitalik Buterin Addresses Critical Transitions for Ethereum
Ethereum (ETH) founder Vitalik Buterin shared a blog post about Ethereum. According to this post, Buterin considers three critical transitions ahead of Ethereum to be vital. Also, Buterin stated that if any of the transitions fail, Ethereum will also fail.
Buterin drew attention to the layer-2 solution, one of the three important transitions of Ethereum. Buterin stated that if this transition is not achieved, transaction fees in Ethereum will increase. According to the founder of Ethereum, without a layer-2 transition, Ethereum will be considered a failure. Buterin thinks users will start to turn to centralized exchanges due to high transactions.
Buterin, the popular name of crypto, stated that another important transition for Ethereum is for wallet security. According to Buterin, if the wallet security transition is not provided, users may feel uncomfortable with storing their funds and migrate to centralized exchanges. Buterin considers this second transition to be critical as well.
Finally, Buterin said the third important pass is privacy. This transition includes social improvements and sensitivity to identity. According to Buterin, Ethereum could fail if the privacy transition is not provided. Specifically, Buterin said that he would act to protect users’ data if confidentiality was not ensured.
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