Ethereum co-founder Vitalik Buterin, who has been very influential in the cryptocurrency market with his posts and statements, made important statements at the Token2049 conference in Singapore.
Early Stage in Cryptocurrencies Left Behind!
Vitalik Buterin, who started his speech by stating that cryptocurrencies are now leaving the early stage behind, said that although people claim that the cryptocurrency industry is still in its early stages, both Ethereum and Bitcoin have been around for more than a decade and the early stage is over.
Considering that crypto has moved past its early stages, Buterin claimed that crypto is now in a unique stage of development, given transformative advances in technology like ChatGPT.
“Cryptocurrencies have been in our lives for about 10 years, and I think the benefits crypto brings to the world are independent of and more important than similar technological developments.
So I think it's past its early stage in crypto.”
What is Ethereum's 10-Year Goal?
Buterin also made statements about Ethereum and announced ETH's 10-year target.
Buterin stated that ETH's 10-year goal is to achieve mainstream adoption while maintaining decentralized values, and added that it also aims to improve wallet security, enhance payment systems, develop privacy tools, advance zero-knowledge (ZK) social media, and develop the Ethereum layer-1 blockchain.
Vitalik also recounted his experiences when he tried to use ETH to pay for coffee in Argentina but was blocked due to high transaction fees and long confirmation times.
Revealing how early blockchain systems like Bitcoin (BTC) and Ethereum struggled with high transaction costs, Buterin argued that Ethereum in particular has tremendous potential to advance technological advances, support the economy, and improve global financial infrastructure, helping to create a better world.
*This is not investment advice.