Vitalik Buterin on Ethereum Development and the Current State of the Crypto Market

Ethereum co-founder Vitalik Buterin recently gave an interview, sharing his views on the current crypto market and the development of Ethereum.

Buterin stated that the current bear market environment has brought tranquility back to the crypto space. He believes this is a good opportunity for industry insiders to reflect on the lessons learned from the past bull market and prepare for the future. He pointed out that the crypto space attracted a lot of attention over the past year, but it also brought some negative effects, such as overly high expectations and the influx of bad actors.

When discussing technological development, Buterin emphasized that there is still significant room for improvement in blockchain scalability. He mentioned advancements in technologies such as Rollups, sharding, Volidium, and zkEVM. In particular, Rollups technology is expected to reduce transaction fees by five times. He also mentioned proposals like ERC-4337, which are important technological directions he has consistently emphasized.

Regarding the development progress of Ethereum, Buterin stated that there are two opposing forces at play. On one hand, there are constantly excellent researchers and developers joining, accelerating the development; on the other hand, to avoid mistakes, caution is also required. He believes this balance is healthy, as it can promote some major updates while ensuring the stability and security of the network.

Buterin also talked about the upcoming "The Merge" upgrade. He believes that the impact of this upgrade has not yet been fully priced in, both from a market and psychological perspective. He anticipates that the realization of "The Merge" will greatly boost community morale.

For applications in the crypto field, Buterin warned of the risks associated with high-yield projects. He stated that the collapse of the Terra project has made people reevaluate the importance of basic principles. He hopes that such lessons can occur early to mitigate larger-scale losses.

Finally, Buterin called on community members to focus on creating meaningful projects. He cited revolutionary projects like ERC-4337 that do not issue tokens. He encouraged developers to concentrate on how to solve real-world problems rather than just focusing on token issuance.

Buterin's interview provides us with a valuable perspective on the development direction of Ethereum and the current state of the crypto market.