Recently, Vitalik posted some contradictions in his thoughts and values on his Twitter account. He thinks that certain points advance his ideas, but they have not yet been resolved. His tweets have received many responses to the various topics revealed.
Vitalik tweets about his contradictions
Vitalik first revealed his contradictions and ideas about the Ethereum blockchain. He thinks the latter could be as stable as Bitcoin in the long run. This requires many active changes in the short term. In this same line, he also wants Ethereum to be able to be a Tier 1 that can survive in extreme conditions. However, there are still applications on this ecosystem based on fragile assumptions.
In addition, on the political level, Vitalik also offers a different perspective. It is a fan of decentralization and democracy. However, on certain specific political points, intellectual elites have more sensible views than those of the people. However, it is not easy to take its side. In this way, countries should focus on more controlled policy experiments, such as the cryptocurrency market. To achieve this goal, governments need to take time to understand and analyze the issues. Whether for blockchain technology or more detailed vis-à-vis decentralized finance for example.
At another time, he also talks about improving cryptocurrencies and the ecosystem in certain areas. First, the solutions want to simplify the first layer as much as possible, while trying to simplify the whole ecosystem. Then, it also expresses its aversion to modern blockchain applications, where they are the ones that maintain the stability of the cryptocurrency economy. And finally, he thinks cryptocurrency should go beyond finance. But the latter remains the most successful category of crypto application to date thanks to decentralized finance.
Lots of things to improve
Through its many statements, it goes without saying that certain points can play a part in the evolution of cryptocurrencies.
In policy terms, governments should adopt more radical rules, especially on the regulation of cryptocurrencies. In some countries, regulation of the sector is largely unstable. However, it would be necessary to provide the maximum security for the actors in this field, by emphasizing democracy and decentralization. In this way, it could easily develop financial activities through cryptocurrencies. This solution could lead to better economic health on a large scale.
Simplifying Tiers 1 is also an interesting project, making the ecosystem more intuitive than it already is. This will still lead to the complexity of the other layers, especially the points that could not be handled in the first layer. The goal is to make the ecosystem simpler.
Conclusion
We can imagine that Vitalik’s ideas can bring real changes in the world of crypto. In fact, at some points, it’s not wrong, and these are things that can be improved in the long run. Could his tweets reach different crypto and government specialists?
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Emile Stantina
Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was evident. The blockchain is definitely the universal tool of tomorrow.
