Ethereum 2.0 is a hot topic in the blockchain community. Expectations for the upgrade to address current issues are high. Ethereum founder Vitalik Buterin has made it clear: ETH 2.0 is coming. But when? This information and much more, he recently revealed in a recent podcast with Lex Fridman.
Ethereum founder Vitalik Buterin joined the Lex Fridman podcast last week in one of his first interviews in a long time. Vitalik shared many interesting thoughts on Ethereum 2.0, blockchain oracles, the relationship between crypto and crime, and much more.
When will Ethereum 2.0 be released?
When will Ethereum 2.0 be released and what can we expect from it? This is currently one of the hottest topics in blockchain. And Lex Fridman hit the nail on the head. When asking Buterin how Ethereum 2.0 would be released and when we could expect it, Buterin replied:
“Recently we rebranded the entire Ethereum 2.0 brand, so to speak. So the reason behind this is that originally we had imagined something that was more like a big event where all the good things would happen at once and it would be a new blockchain and a new protocol. People would go to great lengths to migrate. But little by little, we changed the roadmap to something much more progressive. So proof of stake happens over time, sharding happens over time, and all these different features are added at different times. So the experience of regular users will be very smooth. It’s maybe just a little more complex than the hard forks we’ve already done, but not that much. The great things that happen are proof of what’s at stake.
In short, ETH 2.0 won’t come out all at once. Instead, they will release multiple updates over time. Additionally, Buterin said he doesn’t think all Ethereum upgrades will be ready until 2022. As more upgrades are released, the Ethereum network will be able to handle higher volume of users. In addition, transaction times and fees will be significantly reduced.
Do blockchain and crypto increase crime?
Fridman and Buterin also spoke about crime and whether an Ethereum-led world would make it easier for criminals to get away with it. Buterin thinks there are two sides to this question:
“There is always that possibility. But at the same time, if you look at the world as a whole and the evolution of all other technological trends, for example, personal surveillance is increasing every year. So a world in which things become so dark that criminals commit crimes without impunity seems unlikely. It’s a risk, but at the same time, in the future, cryptography may enable as much defense as attack against this sort of thing.
Cryptography, blockchain and crime are also hotly debated topics. As the decentralized nature of cryptocurrencies makes it easier for criminals to circumvent laws and government regulations, blockchain is inherently considered more secure than centralized systems. Lex Fridman also points this out:
“Yeah. If you look at history, many of the most destructive things have come from centralized institutions rather than people ‘working in the shadows.’ One of the benefits of operating on the edge of legality is that it could actually speed up the adoption of some things, like others, in the gray area of legality.”
Vitalik then acknowledged that reducing the number of intermediaries like banks is normally a good thing.
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