Vitalik Buterin: The Future of Ethereum Looks Like *THIS*!
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Full interview:
Timestamps:
0:00 – What will Ethereum be like in 10 years?
1:19 – What will Ethereum accomplish in 2023?
3:41 – Rollups, L2s, & Sharding (ETH’s next level)
5:52 – ETH’s training wheels are coming off
8:42 – that’s just the BASE CASE
9:49 – Ethereum has the best culture
**Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. I use them to accumulate more Bitcoin.
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Ethereum investors need to understand What the eth devs are doing and where Ethereum is going if you hold ethereum Give this video a like because in this Video I'm going to explain to you with The help of vitalik buterin ethereum's Founder the future of ethereum okay so Let's start with a big picture 10-year Outlook vitalik buterin what will Ethereum be like in 10 years so ethereum In 2032 you have a note your node runs On your phone every 12 seconds or 32 Seconds or whatever number we agree on You download 3.6 megabytes of data you Hash it you do a couple of elliptic Curve equations to check a snark that's It you know the block is valid wait 12 Seconds get 33.6 megabytes of data hash It do some elliptic curve operations Verify the snark and uh valid 12 seconds Later data hash elliptic curve check Valid the whole process just becomes Incredibly sleek and seamless to the Point where like literally a phone could Even do it right because it's incredibly Light on computation the only thing that It's heavy on is data and data just Happens to be the thing that you know Phones are increasingly getting insanely Good at it will get even better at over The next 10 years that to me is what I See in the AGI final goal being from a Protocol standpoint make sure you Subscribe to altcoin daily for more
Videos on all of crypto daily just like This okay so what about this year what Will ethereum accomplish this year where Will ethereum be at say the end of 2023 The thing that everyone is dead set on Is that 2023 is going to be the year When Um you know Roll-Ups really come to Maturity we have 4844 that gives ropes More space and we have the trading Wheels on Roll-Ups like really get Weakened um a lot Um and like basically yeah uh we go most Of the way to these uh you know ethereum Scale like being this kind of fully Trustless and uh so not fully trustless But you know most of the way to be Influenced Russell so most mostly trust Those system that kind of gets are still Like most of you know we would call Sharding being finished and then after That there's uh Roll-Ups going fully Trustless and then there is full tank Sharding and I think those things are Going to take a couple of years longer But like For me personally I think after the Changes in next year like that would be The point the first points where I would Feel comfortable saying even if nothing Else happens past that point I would be Happy with ethereum right and that to me Is like a the like my yeah like that That's the personal milestone for me
Right like the uh you know equivalent of Uh like when can we call ethereum done If we really have to call it done well End of 2023 right so merge done Withdrawals done uh so be being able to Withdraw from the proof of stake system Um you know basic scaling done Um a lot you know a lot of basic Improvements done Um enough cryptography added to ethereum Though we can support privacy Um Solutions that's the layer on top and You know if we need to we could stop There but at the you know we're not Going to stop there right and we want to Kind of like go ahead and try to Actually make sure that the ethereum Ecosystem gets support 500 million users Before Um you know the ball over 500 billion Users are knocking on the door actually Yet you know ends up happening that's Great so that's probably the next part Of the future you know the transition From ethereum as this kind of very Theoretical ecosystem that's still Discovering and finding itself to Ethereum Ambassador ecosystem that Actually is you know tries to be useful And usable and you know secure and and All those things and like actually Provide value for hundreds of millions Of people very exciting so this year is The year of ethereum Roll-Ups ethereum
Layer twos and really taking ethereum to Its next level what if the Fateful Decisions that we made around 2020 Um this is I think another one of these Uh trivia that Is well known within ethereum circles But probably does it hasn't really kind Of filtered out the you know the wider Narrative mean Plex is uh the roll-up Centric roadmap right this is basically This idea that instead of ethereum Itself trying to kind of boil the ocean With uh scaling and insert itself into This complicated hyperscalable system we Would make some machine changes to Ethereum that would make it be more Friendly to people making layer 2 Scaling Solutions right solar two scale Like Solutions are like protocols that Try to do the same thing that ethereum Does but that plug into ethereum for Security without doing every single Thing on top of ethereum so most of the Work would happen off-chain but just Enough work would or could be done on Chain that if something happens the Ethereum system would kind of keep the Rest of the system honest right so one Of the defining analogies for layer twos In general is like the Supreme Court Right like the concept of a exactly the Supreme Court is uh what things are kind Of ultimately rest on but you don't Literally have the supreme court hearing
Every single case right you have a whole Bunch of these appeals courts and like a Whole bunch of lower courts and then you Just have the facts that the threat of a Court case being possible uh can drive Honest Behavior without most of that Behavior ever needing to get into a Court system right so first there's Sharding and then there was dank Sharding which is uh this uh version of Uh charting which was uh created by Ethereum a researcher named dankrad and Then there is proto-dink shorting which Is called that because it's a stepping Stone to full day charting and doesn't Technically Shard data yet though it Does Shard history and computation Um but it was also created by another Ethereum researchers proto-labda right Uh so yeah so for a tape charting Happening next year 2023 is the year That ethereum's training wheels really Come off the other thing that like I've Talked to the roll-up teams that they All want to do next year is they want to Start taking off training wheels right So the Roll-Ups and the layer twos that Exist on ethereum today they basically All have what I call training wheels Like some kind of back door that lets Developers uh come in and like say stop And change the protocol if they see that Some kind of bug has happened and like Trey reading wheels are obviously a you
Know in a front to the moral idea of Trustlessness and all of those things And nobody wants training wheels to be In the status quo long term but Basically yeah they're like a compromise Saying okay people Um like we want to hit the ground Running and we want applications to be Able to start Um you know start deploying on the layer Twos before we can be fully confident That the thing that the thing has no Bugs and so we're going to have a back Door for a while and then once uh things Are stabilized and once we're confident Enough in the code then we can finally Start screening the back doors out right And All right so next year uh yeah some of The projects are going to actually I I Think might be actually taking their Back doors out some of them are going to Be kind of limiting their back doors and Going to a hybrid right where a back Door exists but there's like It's not like one person that that Manages it and it's not even a multi-sig With a 51 threshold it's like a Multi-sig with an 80 threshold or 75 Threshold with members that are like Highly distributed between a bunch of Different organizations and so it's like A halfway house between uh you know Being a yeah kind of
Trusted sidechain the in the style of You know something like liquid or in the South something like polygon today Versus being a fully decentralized System right where it's like you know The humans have half the votes and the Code has half the votes there's probably One sort of mathematically accurate way To think about it and so it's like the Senate in the house if you want to Override the code you know Exactly you know if even a majority of The humans are dishonest as long as like Unless you know you have like almost all The humids are dishonest like if it's Just a majority then you know the code Still kind of carries the day right but So the idea would be that if there is Some political controversy Um that then you know you're not gonna You know you could see yourself getting 51 of the humans but um you know you're Not gonna get like 80 percent of the Humans whereas if it's a bug then like That's something where it's easy to get Like a you know 100 uh uh even agreement That that the bug needs to be fixed you Know not total uh kind of uh you know Take the training wheels off and weave Into the code but like a very large step Toward that give this video a like if You're learning something and by the way Take the training wheels off that's just Ethereum's base case because some
Ethereum teams are more ambitious some Ethereum teams are planning to do a lot More one of the teams I talked to Actually is more ambitious than even That one of the their approach is to Basically say we're going to have a System where we only turn on the humans When someone submits a proof that the Code disagrees with itself so if the Code can create a valid proof for Something that's valid and that and for Something that's invalid that's Inconsistent and some you switch to Humans like Exactly if you make a proof of Inconsistency right which is much easier Than a proof of incorrectness like Basically just show that it provides two Different answers to the same question Right like uh you know if like if I ask A chat gpta you know who was the President of the United States in 1850 And I ask it 10 times and one of those Times it gives a different answer like That's that by itself is proof that that It's not you know a perfect system just Like even two someone who knows nothing About us history right it's like that Kind of idea like the video subscribe to The channel and let me know in the Comments what altcoins you want us to Cover going forward I'll leave you with This piece of ethereum culture [Music]
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