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Tag: Vitalik Buterin

  • Ethereum’s Vitalik Buterin Drops 256 ETH to Boost Next-Gen Encrypted Messaging

    Vitalik Buterin donates 256 ETH to two messaging apps.

    Ethereum co-founder Vitalik Buterin said end-to-end encrypted messaging is essential for protecting digital privacy, identifying permissionless account creation and metadata privacy as the next major priorities for the sector.

    He pointed to Session and SimpleX as two projects working on these areas and disclosed that he has donated 128 ETH to each of them.

    Major ETH Donations

    In a post on X this week, Buterin said both applications are attempting to strengthen decentralization and enhance user protections without relying on phone numbers, while also addressing challenges such as multi-device support and resistance to Sybil or denial-of-service attacks.

    Buterin said the donation addresses are publicly available on the projects’ websites and added that, although the platforms are not yet perfect, they represent active efforts to advance privacy-preserving communication. He also called for more developers to help tackle the technical problems that still remain, and added that these issues “need more eyes on them.”

    It is important to note that while Signal has emerged as a widely used encrypted messaging app, it faced renewed scrutiny following a March incident in which senior US national security officials accidentally included a reporter in a Signal group discussing strikes on Houthi targets in Yemen. Days later, a Pentagon-wide advisory warned against using the app for any non-public information, citing a vulnerability tied to its linked-devices feature.

    The memo said Russian hacking groups were targeting the users of the app through phishing tactics. Signal later attributed the issue to user-targeted attacks rather than problems with its encryption, and that the company had already implemented safeguards and warnings.

    Buterin’s Privacy Push

    The Ethereum co-founder has repeatedly spoken this year about treating privacy as a basic necessity for digital systems. Following a recent data breach involving major US banks, where client information from institutions including JPMorgan, Citi, and Morgan Stanley may have been exposed after a cyberattack on mortgage technology vendor SitusAMC, Buterin responded by describing privacy as a form of “hygiene.”

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    In an essay published in April, he argued that “privacy is an important guarantor of decentralization” and outlined a path for Ethereum to support stealth addresses, selective disclosure, and application-level zero-knowledge tools to help reduce unnecessary data exposure.

    More recently, he warned that X’s new geo-inference system, which assigns country labels to user accounts, poses privacy risks. He said such systems can still reveal sensitive location information and may endanger vulnerable users, even when only broad regions are disclosed.

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  • Vitalik Buterin and Anatoly Yakovenko Clash Over Ethereum’s Layer-2 Security


    Vitalik Buterin and Anatoly Yakovenko debate whether Ethereum’s Layer-2 networks truly ensure security and decentralization.

    A public exchange between Ethereum co-founder Vitalik Buterin and Solana co-founder Anatoly Yakovenko has gotten attention in the X crypto community.

    The debate centered on the level of security that Ethereum’s Layer 2 (L2) networks offer.

    Security and Centralization Risks

    Buterin recently defended Ethereum’s L2 architecture on X, saying that even if 51% of validators collude or suffer a software bug, they cannot steal user assets. However, he acknowledged that there are limitations if the validator set is trusted with tasks outside the chain’s control. He explained that in such a scenario, more than half of them could then collude and provide a false answer with no recourse.

    Yakovenko challenged this view, arguing that the claim that L2s inherit Ethereum’s security is incorrect. “The promise of L2s != the reality of L2s,” he wrote. He pointed out that five years into the L2 roadmap, Wormhole ETH on Solana faces the same worst-case risks as ETH on Base while generating comparable revenue for ETH L1 stakers.

    The Solana co-founder suggested that there is an inherent flaw in the networks that makes achieving the desired security difficult. He highlighted several major issues with how L2s function today. Their complex codebases create broad attack surfaces that are difficult to audit thoroughly.

    Multisig custody setups can also allow funds to be moved without user approval when signers collude or are compromised. Additionally, off-chain execution systems concentrate too much control in a few hands, undermining the decentralization that blockchain is meant to uphold.

    Yakovenko Proposes Ethereum as a Solana Layer-2

    Yakovenko has proposed creating a dedicated bridge that would let Ethereum operate as a layer-2 on Solana to enable smooth asset movement between the two. He noted that this approach would not require any changes to the blockchain itself, and as zero-knowledge proving on the chain continues to evolve, the process will become even easier.

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    Ethereum currently supports more than one million active validators, far exceeding Solana’s estimated 2,000. Supporters like crypto lawyer Gabriel Shapiro believe that this wide validator base strengthens protection against coordinated attacks.

    He explained that many critics either misunderstand or intentionally ignore that L2s are not simple servers running a blockchain. Since they are linked to Ethereum, specific transactions can be enforced within blocks, meaning decentralization on their level is unnecessary because the network itself provides that security.

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  • Vitalik Buterin Justifies 45-Day Unstaking Queue as Vital to Ethereum’s Defense

    Vitalik Buterin has finally responded to concerns about Ethereum’s 45-day unstaking queue, explaining that it is important to the network’s defense.

    His comments follow an ongoing debate within the crypto community over the long waiting time.

    Buterin’s Defence

    The controversy began when Galaxy Digital’s Michael Marcantonio publicly criticized Ethereum’s lengthy exit queue via X, calling it “troubling.” In the now-deleted posts, he compared the network’s unstaking process to that of Solana’s, which only needs two days.

    “Unclear how a network that takes 45 days to return assets can serve as a suitable candidate to power the next era of global capital markets,” read the post.

    Robert Sagurton, co-founder of FogoChain, commented that waiting 45 days or even 2 days for a withdrawal felt too long, suggesting that slow banks are even beating them at UX. Another X user responded by clarifying that bank withdrawals are not the same as unstaking.

    Buterin weighed in on the debate, saying that staking is about “taking on a solemn duty to defend the chain.” He compared it to a soldier leaving the army, noting that some friction in quitting is necessary since the unit cannot function if its members can walk away at any moment.

    The metric spiked to a two-year peak of 2.6 million ETH due to institutional accumulation late last week, and has remained high since then. Data from the validatorqueue website shows that Ethereum has an exit queue of 2.5 million ETH, with an estimated waiting time of approximately 43 days and 6 hours.

    Meanwhile, there is 442,541 ETH waiting to enter the network, with an expected activation delay of around 7 days and 16 hours. Validator participation also remains strong, with more than 1 million active validators. In total, 35.6 million ETH has been staked, accounting for nearly 30% of the entire token supply.

    The Ethereum co-founder admitted that the current staking queue design is not necessarily “optimal”, but emphasized that if the constants were reduced naively, it would make the chain much less trustworthy from the point of view of any node that does not go online very frequently.

    Community Backlash

    Elsewhere, Marcantonio’s comments received some backlash from the X crypto community. Former Consensys product manager Jimmy Ragosa suggested that the wave of criticism against the chain was causing its partners to reconsider their business ties with Galaxy Digital.

    Educator Anthony Sassano said he would advise against working with the firm, stressing that deleting tweets did not change the fact that its DeFi lead misunderstood the industry and preferred spreading Ethereum FUD rather than presenting facts. On the other hand, Mike Dudas defended Galaxy, noting that while some stakeholders might distance themselves, the firm had already shown its ability to create value with Solana by connecting to several participants.

    Following the events, crypto lawyer Gabriel Shapiro claimed that the company pressured its head of DeFi to delete posts attacking the network, describing the behavior as manipulative.

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  • Buterin Withdraws 760 ETH As Market Turmoil Strikes Ethereum

    Buterin Withdraws 760 ETH As Market Turmoil Strikes Ethereum


    Este artículo también está disponible en español.

    Ethereum co-founder Vitalik Buterin has been in the news of late with his 760 ETH withdrawal–a move that raised eyebrows as speculations about what such external wallet transactions by him could do to the Ethereum market.

    Related Reading

    Transactions are part of a broader trend that has seen wallets associated with Buterin and the Ethereum Foundation actively sell large portions of Ether. It is this aggressive selling that has added to the bearish pressure on Ethereum’s price, which lately slipped to the low $2,150 level before recovering slightly.

    Vitalik Buterin: Details Of The Withdrawal

    The wallet, according to reports, has been selling since it received Buterin’s ETH in two transactions on Aug. 9 and Aug. 30 totaling 3,800 ETH. In the wake of the two transfers, the wallet has sold 760 ETH for approximately 1.835 million USDC or roughly $2,414 per ETH.

    The recent sale was made just 21 hours ago and has become a part of a streak of aggressive liquidations that have sparked speculations in the crypto community.

    Buterin was even accused of “dumping” his ETH holdings, which he always publicly denied, claiming that funds go to support development in the Ethereum ecosystem and philanthropy. While he has been reassuring, the continuous sales from wallets attributed to him have greatly contributed to increased bearish sentiment among investors.

    Broader Market Implications

    This selling is not a one-man activity carried out by Buterin; Ethereum Foundation is also notorious for offloading huge quantities of ETH. According to reports, it has sold over 3,066 ETH this year alone.

    Such sustained sales have raised questions about the whole Ethereum market’s health. According to analysts, sales such as these, together with large holder store reductions, have made life tough for ETH, struggling to hold its value.

    Ether market cap currently at $278 billion. Chart: TradingView.com

    Besides Buterin’s sell-offs, one of the largest Ethereum whales liquidated a total of 28,554 ETH in cash in order to pay back his debt on Aave, a decentralized borrowing platform.

    That amount translates into approximately $64.4 million. This further added to the ETH sell-off pressure, making things even more complicated for ETH in the market.

    These cumulative activities have stirred talks that this aggressive ETH sell-off might cause ETH to plunge even below $2,000 if it proceeds this way.

    Related Reading

    A Call For Transparency

    With the situation still developing, there are some calling for more transparency on Buterin’s part and that of the Ethereum Foundation with respect to how they are selling the cryptocurrency.

    Insiders close to the foundation have said its sales are part of a planned financial policy aimed at managing operational expenses, including grants and salaries.

    According to Aya Miyaguchi, executive director of the Ethereum Foundation, one requirement is the need to convert portions of the ETH it holds into stablecoins like DAI to cover certain financial obligations.

    This casts a shadow on the Ethereum community, as to where this could lead in the long run. Though the idea of Buterin and the Foundation could be genuinely valid, this dumping perception plays a significant role in investor perception.

    With this action, the market would respond to such withdrawals, and recovery or fall in ETH value is something the stakeholders keenly await.

    Featured image from Shrimpy Blog, chart from TradingView

    Christian Encila

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  • Elon Musk, Vitalik Buterin, RFK Highlight Growing Free Speech Threat After Durov’s Arrest

    Elon Musk, Vitalik Buterin, RFK Highlight Growing Free Speech Threat After Durov’s Arrest

    The number of celebrities and well-known public figures supporting Pavel Durov after his controversial arrest in France earlier this weekend has skyrocketed.

    Some of those include Elon Musk, Robert F. Kennedy, Vitalik Buterin, Jackson Hinkle, and Tucker Carlson.

    Durov’s Arrest

    CryptoPotato reported earlier today Durov’s arrest in France on Saturday evening, which, according to local media, was because the popular messaging app he runs failed to moderate the content. He faces up to 20 years of prison for possible offenses like money laundering, complicity, terrorism, and narcotics.

    Toncoin, a cryptocurrency project strongly related to Telegram, experienced enhanced turbulence, especially its native token. TON plummeted by more than 20% after the news broke, from over $6.75 to under $5.4.

    The team behind the project outlined its support for Durov and free speech on X, saying that the “TON community remains strong and fully operational.”

    “As a community committed to freedom of speech and decentralization, we stand firmly by Pavel during this challenging time. Pavel has been a dedicated advocate for these values, and we believe his efforts to promote an open and decentralized internet will continue to inspire millions.” – reads the post.

    Free Pavel Movement

    Being among the most vocal supporters of free speech, Elon Musk was among the first to declare his support for Durov as he posted the hashtag “#FreePavel.” Staying true to his sarcastic nature in such situations, he added later: “POV: It’s 2030 in Europe and you’re being executed for liking a meme,” referring to the growing censorship in the continent.

    Robert F. Kennedy, who dropped out of the US presidential race on Friday and supported Donald Trump, also weighed in on the matter, indicating the importance of protecting free speech.

    RFK on X

    The US journalist and political commentator Tucker Carlson, who had an interview with Durov earlier this year, said it wasn’t Putin and Russia who arrested Telegram’s CEO for “allowing the public to exercise free speech. It was a western country, a Biden administration ally and enthusiastic NATO member, that locked him away.”

    “Pavel Durov sits in a French jail tonight, a living warning to any platform owner who refuses to censor the truth at the behest of governments and intel agencies. Darkness is descending fast on the formerly free world.”

    Another US political commentator, Jackson Hinkle, brought an intriguing version of why Durov might have been arrested.

    Jackson Hinkle on X
    Jackson Hinkle on X

    Ethereum’s co-founder, Vitalik Buterin, asserted that he used to criticize Telegram before for “not being serious with encryption.” However, he outlined the seriousness of the situation given the known information about Durov’s arrest.

    “But (given the info available so far: the charge seems to be just being “unmoderated” and not giving up people’s data), this looks very bad and worrying for the future of software and comms freedom in Europe.”

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  • Vitalik Buterin Urges Crypto Community to Look Beyond Pro-Crypto Stance in Political Support

    Vitalik Buterin Urges Crypto Community to Look Beyond Pro-Crypto Stance in Political Support

    Ethereum co-founder Vitalik Buterin has advised against basing political support solely on a candidate’s pro-crypto views.

    He emphasized the importance of broader values such as individual freedoms and technological advancement, warning that a narrow focus on cryptocurrency could undermine the principles that inspired the industry’s movement.

    Broader Perspective

    Buterin highlighted that the current trend of supporting politicians solely for their pro-crypto positions is shortsighted. He noted that political views can change over time, and a politician who appears crypto-friendly today may not hold the same views in the future.

    To assess a candidate’s genuine commitment to crypto, Buterin suggests looking into their historical stance on related issues such as encrypted messaging. This, he argues, offers insight into their likely future positions on technology and freedom.

    Buterin said, “By publicly supporting ‘pro-crypto’ candidates solely for their stance on crypto, you create an incentive for politicians to pretend to support crypto without genuinely aligning with its foundational values.”

    Buterin urged the community to scrutinize whether pro-crypto politicians genuinely support the movement’s values. Do they have a long-term vision for technology and the economy that aligns with crypto’s principles? If not, Buterin suggests avoiding political support or seeking better-aligned candidates.

    Freedoms and Technological Advancement

    Vitalik Buterin has warned that basing political support solely on a candidate’s pro-crypto stance risks betraying the core values of the entire movement. He emphasized that the industry is about more than just cryptocurrency and blockchains, stating that its roots lie in the cypherpunk ethos of the early 2000s, which advocated for free and open technology to protect individual freedoms.

    This movement initially fought against restrictive copyright laws backed by corporate interests, with decentralization as a key defense mechanism.

    Bitcoin, an extension of the cypherpunk spirit, provided a decentralized means of financial transactions. However, Buterin noted that the emphasis on freedom of payment as central to all other freedoms came later, often to justify the financial focus of the crypto space.

    Buterin stressed that technological freedoms go beyond cryptocurrency. He highlighted the importance of freedom and privacy of communication, emphasizing encrypted messaging and pseudonymity, with zero-knowledge proofs playing a crucial role. He also pointed out the significance of privacy-friendly digital identity, noting that while blockchain applications can help, traditional cryptographic methods are often more practical.

    As AI interactions deepen, he stressed the growing importance of protecting thoughts from centralized AI companies. He advocated for high-quality access to information through social technologies that promote informed opinions in adversarial environments.

    Buterin criticized current pro-crypto initiatives for neglecting these broader freedoms, pointing out that platforms like StandWithCrypto focus exclusively on cryptocurrency-related legislation without addressing other crucial freedoms related to cryptography and technology.

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  • Ethereum’s Vitalik Buterin Donates 30 ETH to Support Tornado Cash Devs’ Legal Defense

    Ethereum’s Vitalik Buterin Donates 30 ETH to Support Tornado Cash Devs’ Legal Defense

    Ethereum co-founder Vitalik Buterin donated 30 ETH, valued at around $113,000, to support the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm through the decentralized fundraising platform Juicebox.

    According to the on-chain data, the transaction from an address linked to Buterin, named vitalik.eth, was made at 1:58 am EST on May 30 to the “Free Alexey & Roman” legal fund on Juicebox, which had raised 595.82 ETH, worth approximately $2.2 million.

    Open Source Is Not a Crime

    Crypto veterans, including Buterin, have consistently championed privacy tools for managing crypto assets privately. Buterin has published numerous papers on enhancing Ethereum’s privacy. Hence, his move is not surprising.

    Other supporters have shown solidarity by attaching messages of encouragement to their donations. Underneath their contributions, phrases like “you have our support,” “code is not guilty,” “support freedom,” and “Open source is a form of free speech that everyone deserves” resonate strongly.

    This isn’t the first time Buterin has donated to a similar cause. In 2022, he contributed 10 ETH (valued at $30,980 at the time) to a legal fund ‘AssangeDAO’ on Juicebox, supporting Australian activist and WikiLeaks founder Julian Assange.

    Legal Trouble for Tornado Cash Bosses

    Tornado Cash is a privacy-focused tool that facilitates anonymous crypto transactions. However, its potential for misuse has led to it being exploited by criminals to launder, hack, or steal funds. This illicit activity caught the attention of law enforcement, leading the US Treasury’s Office of Foreign Assets Control (OFAC) to impose sanctions on Tornado Cash in August 2022.

    Shortly thereafter, Tornado Cash developer Alexey Pertsev was arrested in Amsterdam for allegedly hiding criminal financial flows and facilitating money laundering through the controversial Ethereum mixing service.

    A year later, other developers – Roman Storm and Roman Semenov – were charged with aiding in laundering $1 billion, with Storm arrested in Washington State. Pertsev was sentenced to 5 years and 4 months in prison earlier this month.

    Meanwhile, Storm remains detained in the US since his arrest in 2023, with his trial scheduled for September.

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  • Ethereum’s Buterin advocates multisig, says Shamir backup is ‘way easier to screw up’

    Ethereum’s Buterin advocates multisig, says Shamir backup is ‘way easier to screw up’

    Ethereum co-founder Vitalik Buterin publicly favored multisig over Shamir backup, saying the latter is “way easier to screw up” for ordinary users.

    In an X discussion among crypto enthusiasts, worries about the security risks linked to cold wallets have taken center stage, prompted by Ethereum co-founder Vitalik Buterin‘s raised concerns regarding their potential pitfalls.

    Peter Watts, the founder of NFT marketplace Reservoir, went on X to caution about the dangers of using hardware wallets, mentioning the risk of losing seed phrases or hastily moving assets stored in a bank’s safety deposit box, especially during unexpected events like the COVID-19 pandemic.

    The conversation took a new turn when Vitalik Buterin joined it, advocating for the use of multisignature (also known as multisig) solutions for securing personal funds. Buterin didn’t reject the idea of cold wallets but highlighted decentralizing security, preferring multisig setups where multiple keys are required for transactions, emphasizing the importance of security in crypto.

    He emphasized the need for a “M-of-N” configuration, where some keys are held by the user and others by trusted individuals, without disclosing their identities even to each other.

    In response to Buterin’s suggestion, Ethereum investor Tobby Kitty proposed Shamir, a backup method for splitting cryptographic keys or passwords into multiple parts called “shares.” While acknowledging the benefits of Shamir, Buterin cautioned that it’s “way easier to screw up” compared to multisig, as it depends on carefully handling and storing many parts of the secret. If any of these parts are lost or handled incorrectly, it could be impossible to put the secret back together.

    Denis Omelchenko

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  • Railgun refutes FBI claims of North Korean misuse, upholds privacy

    Railgun refutes FBI claims of North Korean misuse, upholds privacy

    Privacy protocol Railgun denies claims of North Korean hackers or sanctioned individuals using the platform, despite earlier claims from the FBI. 

    The assertions were initially fueled by a January 2023 statement from the FBI, which implicated North Korea’s Lazarus group in laundering over $60 million in Ethereum through Railgun. The funds were reportedly stolen in a June 2022 cyber attack. 

    Following the U.S. sanctions on popular crypto mixer Tornado Cash, there were speculations that Railgun was becoming a preferred alternative for such operations.

    In a recent statement, Railgun clarified that there is no concrete evidence to support claims of the platform’s misuse by sanctioned individuals or groups, including North Korea.

    Railgun is recognized for implementing advanced Zero-Knowledge Privacy protocols that safeguard user transactions on dApps, thereby enhancing the privacy of defi transactions. The platform drew additional attention following a transaction by Ethereum co-founder Vitalik Buterin, who recently transferred 100 ETH, valued at about $325,000, to Railgun. 

    Arkham data shows Buterin has regularly interacted with the Railgun using small amounts of ETH over the past six months. He highlighted on social media that wanting privacy is normal, noting that measures used by Railgun significantly reduce the risk of malicious parties infiltrating privacy pools.

    The ongoing debate over privacy in the crypto space has also seen contributions from prominent figures like Coinbase CLO Paul Grewal, who has been vocal about the necessity for the legal protection of privacy rights. Grewal has argued against sanctions on platforms like Tornado Cash, advocating for the support of open-source privacy software under clear legislative frameworks.


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  • Vitalik Buterin reflects on his meeting with Putin, depicts the FTX collapse

    Vitalik Buterin reflects on his meeting with Putin, depicts the FTX collapse

    In a recent introspective blog post, Ethereum co-founder Vitalik Buterin candidly addressed the complexities of his journey in the crypto world and its intersection with global politics. 

    Buterin’s revelations, particularly concerning his ‘unintended’ legitimization of Russian President Vladimir Putin and his observations on the cryptocurrency industry’s volatility, provide a rare glimpse into the mind of one of the crypto world’s most influential figures.

    Buterin recounted an experience in 2017 when he met with Vladimir Putin. Initially, he didn’t perceive this meeting as an endorsement of Putin’s regime. However, upon reflection, he now views it as an unwitting legitimization of a controversial political figure. This acknowledgment represents a significant shift in Buterin’s perception of his actions, highlighting the ethical complexities tech leaders face when interacting with global politics.

    “Now, five years later, I finally realized that (i) I had been complicit in legitimizing a genocidal dictator, and (ii) within the crypto space too, I no longer had the luxury of sitting back and letting mystical “other people” run the show.”

    – Vitalik Buterin

    The Ethereum founder also delved into how his perception changed during the downfall of Sam Bankman-Fried and FTX. This incident was a stark reminder of the impermanent and often unpredictable nature of leadership within the crypto community. Buterin observed that many individuals he once viewed as guiding lights in the industry were no longer present or had lost their standing. This realization highlights the ephemeral nature of influence and the rapid evolution within the crypto sector.

    Buterin’s reflection on the FTX collapse underscores the importance of ethical stewardship and vigilant leadership in crypto. It serves as a cautionary tale about the dangers of rapid growth and the need for transparency and accountability in the industry. The event, coupled with his personal experiences, points to a maturing perspective where Buterin acknowledges his actions’ significant responsibilities and potential impacts in the broader tech and political landscapes.

    Buterin shared this list of ‘current and former crypto main characters’ in this blog

    These reflections were a broader part of Buterin’s seven-chapter long blog, where he revisited his experience, learnings, successes, and failures in the crypto industry. With these reflections, Buterin re-iterated that he no longer wants to be the face of crypto, rather he thinks “people a full decade younger” are more deserving of that role today. 


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  • Vitalik Buterin 'Super Important' Blessing Boosts ENS Price

    Vitalik Buterin 'Super Important' Blessing Boosts ENS Price

    ENS, which stands for the Ethereum Name Service, witnessed a phenomenal increase of more than 50% in the value of its governance token on Wednesday.

    The abrupt increase in price may be ascribed to the influential endorsement provided by Vitalik Buterin, one of the co-founders of the Ethereum blockchain.

    Investors were energized and the ENS token reached unprecedented heights as a result of Buterin’s unequivocal declaration concerning the project’s importance.

    Buterin’s Endorsement: ENS And Ethereum’s Future

    With Buterin calling ENS “super important”, the project’s potential influence on the Ethereum community and the decentralized web is clear.

    The endorsement of Buterin frequently acts as a catalyst for increased interest and investment in the cryptocurrency and blockchain industries, where his words carry considerable weight.

    The Ethereum Name Service initiative offers a decentralized domain name system and is renowned for its contribution to the Ethereum ecosystem’s user experience simplification and improvement.

    ENS simplifies blockchain interactions by linking human-readable names to complex Ethereum addresses, thereby increasing accessibility and user-friendliness.

    The current value of the ENS token, according to the most recent update, is around $14.37, representing a significant increase of 40% over the past 24 hours.

    Notably, the token has maintained a robust 50% increase over the past week, accumulating an impressive market capitalization of around $423.20 million.

    ENSUSD currently trading at $15.596 on the daily chart: TradingView.com

    During the same 24-hour period, the trading volume of the ENS token reached an impressive value of over $360 million, showing a heightened level of market activity.

    According to CoinMarketCap, the current trading price of ENS has risen from a low of $8.50 on Wednesday to its highest level since April.

    The considerable volume of transactions highlights the ever-changing characteristics of the market, as investors proactively participate in purchasing and selling in reaction to the latest advancements and endorsements within the ENS ecosystem.

    Source: Coingecko

    Token Metrics And Buterin’s Support

    ENS presently has a circulating quantity of 30 million tokens, resulting in a market capitalization of over $404 million.

    Buterin emphasized in a statement on X the necessity for all Layer-2 solutions to concentrate on the development of trustless, Merkle-proof CCIP resolvers. The objective of this endeavor is to facilitate the registration, modification, and perusing of ENS subdomains directly on Layer-2 blockchains.

    Buterin underscored the significance of ENS, pointing out the imperative for cost-effectiveness in its functioning. The designation “L2s” refers to blockchains at the most fundamental layer, Layer-2, which significantly improves the scalability of a Layer-1 blockchain by enabling transactions to occur at a quicker pace and at a lower cost.

    Buterin brought attention to the markets’ need for universal name systems by describing ENS as extremely crucial, highlighting their importance to the blockchain experience.

    Featured image from ICRYPEX

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Christian Encila

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  • Vitalik Buterin reveals 6 main focuses for Ethereum in 2024

    Vitalik Buterin reveals 6 main focuses for Ethereum in 2024

    Ethereum co-founder Vitalik Buterin has released an updated roadmap for the network’s plans in 2024.

    Buterin shared the roadmap on Dec. 30 in a series of posts on X, where he confirmed it will only include minor changes from the previous year.

    The six main focuses for Ethereum (ETH) in 2024, as outlined by Buterin, include the merge, the Surge, the Scourge, the Verge, the Purge, and the Splurge.

    The Merge, a major element of the roadmap, aims to maintain a straightforward and robust proof-of-stake (PoS) consensus. This element was highlighted in 2022 when it led to the integration of the Ethereum mainnet and the Beacon Chain proof-of-stake blockchain.

    Following this integration, Ethereum transitioned from a power-intensive proof-of-work (PoW) consensus mechanism to PoS, significantly reducing the network’s overall energy consumption.

    The roadmap also highlighted Ethereum’s focus on single-slot finality (SSF), a concept designed to ensure that changes to blocks on a blockchain cannot be reversed without burning at least 33% of the total staked ETH.

    Buterin also detailed how the Scourge priority would become more focused on combating economic centralization in Ethereum, particularly regarding MEV and liquid stake pooling.

    Buterin to make ETH cypherpunk again

    Recently, as reported by crypto.news, Buterin shared plans to reincorporate the original principles of the “cypherpunk” revolution into blockchain. 

    The Ethereum CEO originally envisioned the network as a universally accessible, decentralized hard drive utilizing peer-to-peer communication and file storage. However, starting in 2017, Ethereum’s focus began to shift toward financial applications, according to Buterin.

    In the future, he hopes to revive the quintessential “cypherpunk” ideals, such as decentralization, open participation, resistance to censorship, and trustworthiness.

    Buterin also noted that recent advancements like rollups, zero-knowledge proofs, account abstraction, and second-generation privacy solutions align well with Ethereum’s original values.

    Despite minor setbacks and challenges, his updated 2024 vision for Ethereum points towards an optimistic future, with analysts like Raoul Pal forecasting a potential price rise for ETH of up to $5,300.

    ETH price to blow in 2024?

    From Pal’s perspective, Ethereum’s price is poised for a significant uptrend. It isn’t a random prediction—Pal has grounded it in the liquidity indicator, a key tool that analysts leverage to forecast the potential price shifts of assets. 

    While the Real Vision co-founder injected a note of caution, reminding crypto investors that his forecasts aren’t guaranteed, he exhibited an undeniable bullish outlook for Ethereum.

    Pal further pointed out the potential impact of exchange-traded funds (ETFs) on Ethereum’s progress. He postulated that the introduction of a Bitcoin spot ETF could set the stage for an Ethereum ETF, revitalizing the Ethereum ecosystem in the process.

    Pal’s outlook was shared by analysts at CryptosRUs, who predicted a surge in ETH’s growth starting in Q1 2024.

    According to the analysts, ETH’s upward trajectory will be fueled by factors such as positive market sentiment, the seasonality of ETH and Bitcoin (BTC), and the forthcoming Dencun upgrade.

    In November, IntoTheBlock reported that over 75% of Ethereum addresses were profitable at a time when ETH was priced at $2,200. The market intelligence platform also stated that only about 22.5% of Ethereum addresses experienced unrealized losses, with close to 1.17% at the break-even point.

    Ethereum’s network activity also saw significant rises, with the number of new addresses on the network spiking by about 17.5% and active addresses seeing a boost of roughly 23%.

    Furthermore, Ethereum addresses without ETH balances also surged by around 74%, while the number of Ethereum addresses with ETH balances is on a steadily ascending trajectory.

    Over the past 30 days, the average count of Ethereum addresses was approximately 102.72 million—more than double the number for Bitcoin.


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    Julius Mutunkei

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  • Vitalik Buterin Proposes Measures to Simplify PoS Design, ETH Surges

    Vitalik Buterin Proposes Measures to Simplify PoS Design, ETH Surges

    Vitalik Buterin, the co-founder of Ethereum, has proposed measures to reduce the load on the Ethereum blockchain and simplify its proof-of-stake (PoS) consensus.

    The proposal aims to decrease the number of signatures validators must make to maintain the network’s operation, ultimately reducing the overall load on the Ethereum blockchain.

    Ethereum Co-Founder Proposes Adjustments

    Ethereum’s attempt to achieve decentralization and involve regular users in staking by supporting around 895,000 validators has led to significant technical challenges.

    The need to process a large number of signatures, approximately 28,000 per slot, imposes a high load on the network. The approach has drawbacks, including limitations on quantum resistance, complex forking, and the need to scale signatures through zero-knowledge proofs (SNARKs).

    To address these issues, the Ethereum co-founder has proposed reducing the number of signatures per slot to a more moderate level, aiming for technical simplification and enhanced quantum resistance.

    The current approach of supporting around 895,000 validators on Ethereum, while aiming for decentralization and broad participation, falls short of fully enabling ordinary individuals to participate due to the high minimum requirement of 32 ETH to become a validator.

    Hence, Buterin proposes transitioning to a moderate solution with approximately 8,192 signatures per slot, reducing the current load of 28,000 signatures.

    Reducing the number of signatures per slot to around 8,192 on Ethereum, as proposed by Buterin, would enable major technical simplification, enhance the chain’s quantum resistance, and maintain a significant total slashable ETH at around 1-2 million ETH. Slashing, a mechanism to enforce good validator behavior, would remain effective with this adjustment.

    Buterin suggests three potential approaches to achieve this: relying on decentralized staking pools, implementing a two-tiered system with “heavy” and “light” staking, and introducing rotating participation with accountable committees.

    Ethereum Looks to Enhance Protocol Development

    The proposed solutions aim to reduce the digital signature load to a manageable level. The key advantage would be setting the future signature load at a manageable level, making protocol and infrastructure development much easier.

    According to Buterin, the future load of the Ethereum protocol becomes a known factor, allowing for potential adjustments through hard forks when developers are confident that technology has improved enough to handle a larger number of signatures per slot with the same ease.

    Buterin cautioned in May about the risks associated with “stretching” Ethereum’s consensus beyond its fundamental roles of validating blocks and ensuring network security.

    Meanwhile, Ethereum has gained attention and is experiencing a surge. Over the last 24 hours, the ETH is up 4.4%, trading at $2,391.24 at the time of writing.

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  • Ethereum co-founder Vitalik Buterin lost $29m in six days

    Ethereum co-founder Vitalik Buterin lost $29m in six days

    Vitalik Buterin — the co-founder of the blockchain that unleashed smart contracts on the world — has seen tens of millions worth of holdings evaporate from his portfolio in mere days.

    According to data provided by blockchain analytics service Arkham Intelligence, Buterin’s publicly-known crypto wallets became about $29 million lighter in the six days from Dec. 15 to Dec. 21. This means that the wallets cumulatively lost about 5% of their total value as the price of the assets they held fell from $572 million down to $543 million.

    Buterin puts his money where his mouth is

    Out of the current $543 million held in the wallets, the near totality is Ethereum (ETH). The two top assets other than ETH are Kyber Network (KNC) with $623,000 and Wrapped Ethereum (WETH) with $431,000.

    As a result of this portfolio nearly completely comprised of Ethereum, Buterin is very exposed to the fluctuation in the price of the cryptocurrency that he helped create. On Dec. 15, ETH reached a high of just under $2,300 — which accounts for much of its fall of over 4% towards its current price of just over $2,200.

    Who is Vitalik Buterin

    Vitalik Buterin is a Russian-Canadian programmer and writer known primarily for his contribution to the creation of Ethereum. He co-founded Bitcoin Magazine, a widely known Bitcoin-focused online publication that started publishing in 2012.

    After observing some of what he perceived as limitations of the Bitcoin network, Buterin published a white paper in 2014 proposing Ethereum — a blockchain-based distributed computing platform that could support smart contract functionality. Ethereum launched in 2015, with Buterin playing a key role as the project’s co-founder.

    Since then, Ethereum has become the second-largest cryptocurrency platform, second only to Bitcoin in market capitalization. Buterin continues to contribute to improving and advancing Ethereum’s open-source protocol technology.


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    Adrian Zmudzinski

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