Vitalik Buterin: community ignores cryptocurrency security issues

The cryptocurrency industry is not paying enough attention to wallet security. This opinion was expressed by Ethereum co-founder Vitalik Buterin at the blockchain conference laBITconf 2020.

Buterin pointed out that wallets are still difficult to use – reducing their security for technically incompetent users.

„It’s still easy enough to lose $200,000 if your wallet breaks. I have a theory that we don’t discuss the problem enough because no one wants to admit to losing $200,000. If you admit it, you will look like an idiot,“ the Ethereum co-founder noted.

In his view, the silence on the subject of wallet security gives the impression that there is nothing to worry about. However, this stance will force people to switch to centralised solutions in the future, Buterin concluded.

Earlier, the Ethereum co-founder spoke positively about central bank digital currencies (CBDCs). With their emergence, he expects a simplified macroeconomy and easy exchange of CBDCs for crypto-assets.

As a reminder, the Ethereum 2.0 zero phase was launched on 1 December. A week later, Buterin announced the transfer of 1.02% of issued ETH to the second version of the protocol’s deposit contract.

You may also like

BofA rapporterar att Long Bitcoin inte sätter tekniska aktier som den mest trånga handeln i januari

The cryptocurrency industry is not paying enough attention to wallet security. This opinion was expressed by Ethereum co-founder Vitalik Buterin...

Why the Bitcoin rate is relevant

The cryptocurrency industry is not paying enough attention to wallet security. This opinion was expressed by Ethereum co-founder Vitalik Buterin...

Elon Musk is the richest person in the world – and wants to be paid in bitcoin

The cryptocurrency industry is not paying enough attention to wallet security. This opinion was expressed by Ethereum co-founder Vitalik Buterin...

Il dominio di Bitcoin raggiunge il picco di un anno mentre XRP affronta una nuova causa

The cryptocurrency industry is not paying enough attention to wallet security. This opinion was expressed by Ethereum co-founder Vitalik Buterin...

Back to Top