Last week in Colorado, popular Hackathon for Ethereum blockchain and similar protocols took place for a 3-day period within which major developments and views were shared.
Vitalik: Cryptos Not “Disintermediation”
During the highly anticipated 3-day event which took place from Friday, 15th February to Sunday, 16th February 2020, Vitalik Buterin, Ethereum co-founder and other renowned developers within the blockchain ecosystem shared interesting views and technologies.
Vitalik Buterin, upon taking the stage expressed that cryptocurrencies were not designed to be totally independent of intermediation or devoid of middlemen. He says, they exist to soften or ease the hardship inflicted by these financial markets players and create an alternative pathway for the population who can’t afford the cost of such services along such lines as those of trust and privacy.
According to a tweet by Nathan Schneider,
Excitement About Ethereum 2.0
Sharing further opinions on decentralization and the long overdue Ethereum 2.0, Buterin expressed optimism and excitement about the development of Decentralized Finance (DeFi) on the ethereum blockchain.
“I’m very excited about the potential DeFi offers in principle. The idea that just anyone, anywhere in the world, can have access to a system that lets them pay each other, and choose their own financial exposure, is a really powerful thing. It’s something that a lot of people don’t have access to.”
Further, Vitalik Buterin spoke on the development of Ethereum 2.0 that is currently under testing. The long-awaited project Combines Proof-of-Stake (PoS), Sharding, and eWSAM projects, Ethereum 2.0 aims to run ‘tens of thousands of transactions per second.’
Buterin has been ‘very confident’ about the new Ethereum 2.0 network. At ETHDenver 2020, he said:
“I definitely think ETH2.0 has been preceding quite quickly and regularly in the last few months. I hope that ETH2 gets released quickly…but even if it takes five years, rollups will give us some leeway until sharding [goes live].”
Joseph Lubin’s Points Of View
Similarly, Ethereum co-founder, Joseph Lubin who took the stage on the first day of the event spoke extensively on the possible developments and how the application of DeFi will impact the crypto ecosystem.
According to his tweet about the speech,
“DeFi will enable entirely new kinds of business and new industries. And it will draw many different legacy industries in to re-architect how they work. The next massive Ethereum change wave is picking up steam.”
Further, he expressed optimism about the inbound adoption and exposure coming to Ethereum Decentralized applications. According to Lubin,
“In a world of low & even negative interest rates, it won’t be long before more people are attracted to the rates available on DAI & ETH. When the decentralized financial plumbing grows deeper & more diverse, it won’t just pull a million developers into Ethereum.”