Vitalik Buterin: Ethereum Needs A Huge Mindset Shift For Global Boom

According to the founder of Ethereum, Vitalik Buterin, the digital asset needs a huge mindset shift in order to see a global change and boom. Here are the latest reports regarding what he has to say.

Vitalik Buterin addresses Ethereum

Buterin is calling for a mindset shift towards building layer-2 (L2) decentralized applications and solutions in order to see the successful completion of the Dencun hardfork.

While speaking at the ETH Global’s Pragma London event on March 14, he addressed the completion of the network upgrade which is enabling L2 rollups in order to achieve scale by reducing the costs that are associated with submitting cryptographic proofs to ETH base layer.

“We have officially hit basic rollup scaling, but we need to keep in mind that things will be incremental from here,” Buterin told a packed crowd gathered at the Christ Church Spitalfields venue.

Ethereum has been constantly evolving over the past decade. Buterin believes that it needs to change its strategy to have a significant impact on the Internet and financial systems.

Cointelegraph notes the fact that Buterin views the first decade of Ethereum as an inwardly focused period, reflecting on how the ecosystem was developing things for itself:

“The tech geeks were trying to satisfy tech geeks and create beautiful technology. The second decade needs to see Ethereum breaking out and having a big impact on the world.”

The 0other day, I noted the fact that the upgrade was successfully rolled out on the Ethereum mainnet. Just to refresh your memory, this is the most anticipated hard fork since the Merge.

It’s also important that we note that this is expected to reduce the transaction fees of layer-2 networks and also boost the scalability of Ethereum.

Stay tuned for more juicy crypto news.

Rada Mateescu
I'm hungry for truth, thirsty to learn, and eager to share. At Optic Flux, my goal is to deliver breaking juicy health, financial, and tech/science-related content. I focus on all that's meaningful and impactful for my readers.