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.