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Vitalik Buterin: zk-STARK IS EXTREMELY PROMISING

Friday, 16 December 2022

The Future of Blockchain Technology: Vitalik Buterin Believes zk-STARK Protocol to Be a Game-Changer

Vitalik Buterin, the co-founder of Ethereum, recently shared his perspective on the zero-disclosure proof protocol zk-STARK. According to him, this technology has immense potential and in the next 10-20 years, it will become as significant as the Blockchain. He expressed his views during a conversation with Suji Yan, the founder of Mask Network, at the NFT Taipei event.

Buterin believes that zk-STARK is a powerful privacy and security technology that can address the scaling and privacy issues of the Blockchain. Although the potential of the technology can be leveraged for other applications as well. The protocol can be used to ensure the privacy of transactions, which will vary depending on the application. The co-founder of Ethereum further added that developers are continuously improving the zk-EVM technology, which is a second-level solution for transaction verification. It can enhance the scalability and speed of Ethereum. Additionally, Buterin hopes that the Optimistic Rollup solution for scaling the network will also be successful.

The fall of FTX took away the money of many users, while Uniswap and MakerDAO continue to work perfectly for years. I hope that by 2025 people will understand the advantages of cryptocurrencies and non-financial applications on the Blockchain, and access to them will be obtained on the blockchain, and not through accounts on Binance.
Vitalik Buterin said

Insights on the Decentralization of Exchanges
During the conversation, Suji Yang and Buterin also discussed the bankruptcy of the FTX exchange. According to Buterin, decentralization is the key to avoiding such events in the future. He emphasized that if exchanges are decentralized, such occurrences will be impossible.

The fall of FTX resulted in financial losses for many users. In contrast, decentralized exchanges like Uniswap and MakerDAO have been operating smoothly for years. Buterin expressed hope that by 2025, more people would understand the benefits of cryptocurrencies and non-financial applications on the Blockchain. Moreover, he believes that access to them will be obtained through the blockchain and not via accounts on centralized exchanges like Binance.

Vitalik Buterin's Advice to Cryptocurrency Traders
In the past, Vitalik Buterin has also advised cryptocurrency traders to focus on the technology rather than the market's fluctuations. This advice comes at a time when many traders are more concerned with the market's performance than the underlying technology's potential.

Conclusion
Vitalik Buterin's insights and opinions hold a lot of weight in the cryptocurrency and Blockchain space. His beliefs on the potential of zk-STARK and the decentralization of exchanges are significant. If these views are realized, they can pave the way for a more secure, scalable, and accessible Blockchain ecosystem in the future.