Vitalik Buterin talks crypto’s perils in Time Magazine interview

After being interviewed by Time Magazine about the dangers of the industry he helped create, Vitalik Buterin, cofounder of Ethereum, graced the front cover of Time Magazine’s March issue.

Buterin spoke out over the interview for 80 minutes about the dangers of using digital assets in a wrong way. His biggest concerns are overzealous investors and high transaction fees. He also worries about the public displays of wealth made by people who claim to have made a fortune trading nonfungible tokens (NFTs) and crypto.

Buterin is optimistic about Ethereum, the network that powers the second-largest cryptocurrency market capitalization and many other projects. Buterin fears that his vision to create a more egalitarian digital economic system could be overtaken soon by greedy actors.

He stated, “If we don’t exercise our voices, the only things that get constructed are the ones that are immediately profitable.”

The co-founder of Ethereum @VitalikButerin was featured in Time magazine’s 100 most influential people in 2021.https://t.co/94sesOpA52
— Cointelegraph (@Cointelegraph) September 16, 2021

Buterin also discussed other Ethereum-related issues in the interview, such as how much power he can exercise in the community during contentious periods, like the 2016 hack of a Decentralized Automatous Organization (or DAO). Interviewer Buterin was described as a pragmatic leader who takes a “middle ground approach” to solving community problems.

Buterin used his blog over the years to advocate for technical solutions to Ethereum’s development. He published “Endgame” in December 2021. It was a thought experiment about the evolution of Ethereum 2.0.

Related: Andreessen Horowitz invests $70M into Ethereum staking protocol Lido

The ETH cinematic universe grows: ETH 2.0 scaling and zk-Rollups. L2s & many more. At the same time, @VitalikButerin has just published his ‘endgame plan’ that solidifies his vision for a deflationary age. https://t.co/CbIo3WZXNH
— Cointelegraph (@Cointelegraph) December 7, 2021

Although Ethereum’s transition to a proof of stake chain is still in limbo, the investors community is optimistic about the future. Ethereum’s Beacon Chain currently has more than 316,000 validators, and approximately 10.1. billion ETH staked.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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