The post Vitalik Buterin Regrets Ethereum Not Switching to PoS Earlier appeared on BitcoinEthereumNews.com.

Vitalik Buterin, Ethereum’s co-founder and lead architect, shared his regret at ETHBerlin for not adopting a simpler version of Proof of Stake (PoS) earlier. He also noted that Ethereum remains misunderstood despite its mainstream success, unlike Bitcoin, which has a straightforward narrative as digital gold. Also Read: How Many Ethereum Are There? At this year’s ETHBerlin event, 620 developers showed up after three days of nonstop coding. Few expected Vitalik Buterin to take the stage. The Ethereum creator was a surprise guest, and his reflections on Ethereum’s design were even more unexpected. Ethereum Is Bigger Than Ever The U.S. has just approved a spot Ethereum exchange-traded fund, and BlackRock, the world’s largest asset manager, has launched its own tokenized fund on Ethereum’s blockchain. The Ethereum network has grown into an extensive ecosystem of developers and financial applications worth over $63 billion, becoming bigger than ever. However, Buterin has a list of things he would have done differently. These include the development of Ethereum’s Virtual Machine (EVM), smart contracts, and the PoS consensus mechanism. “Bitcoin has a simple narrative, which is digital gold,” Buterin said. “But with Ethereum, it’s like, ‘Whoa, what the heck is Ethereum?’” Vitalik Buterin at ETHBerlin. Source: DLNews Sitting on stage with ETHBerlin organizers Afri Schoedon and Franziska Heintel, Buterin reminisced about his fondest memories in Berlin. These included hacking in an old office with Ethereum co-founders Gavin Wood and Jeffrey Wilcke, launching Devcon Zero, and celebrating the Merge upgrade in 2022.  Also Read: Ethereum Name Service (ENS) Becomes Top Weekly Gainer Then, Schoedon asked an interesting question: “With everything you know and everything you’ve learned over the last 10 years, how would you build Ethereum differently today if you could start from scratch?” Buterin’s first concern was Ethereum’s Virtual Machine. The original EVM design used 256-bit processing instead…

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Filed under: News - @ May 30, 2024 1:14 pm