Vitalik Buterin: Crypto must become useful by 2032

In preparation for EthSeoul, Vitalik Buterin addressed a private press conference in Seoul today.

The developer of Ethereum explained ZK-Rollup technology, the obstacles that a “100% complete” Ethereum would encounter, and why the next three years should serve as a testing ground for blockchain applications.

Buterin has maintained his opinion that ZK-Rollups are likely to be Ethereum’s most effective Layer 2 scaling weapon. He has said that quantum computing would be a significant factor in the protocol’s future. Vitalik Buterin is hopeful about the future of Ethereum, although he anticipates substantial obstacles.

Today, during a secret press briefing preceding EthSeoul, the developer of Ethereum outlined the protocol’s long-term future, concentrating on scaling technologies, quantum computing, and significant network obstacles.

Buterin said that the next decade would be pivotal for blockchain technology, stating that apps will soon be required to demonstrate their value on an open market. 

Buterin voiced optimism for the forthcoming wave of Layer 2 rollup solutions, holding the position that zero-knowledge proof-based ZK-Rollups will win over Optimistic Rollups as the better, if more complex, technology. “Over time, ZK-Rollups will surpass Optimistic Rollups due to their inherent benefits, such as not requiring a seven-day withdrawal period,” he remarked before elaborating on the difficulty of constructing ZK-Rollups.

“ZK is a technology that is difficult to implement. There are several obstacles, and Optimistic Rollup technology is better developed.” Buterin explained that he was still sure that some of the current Optimistic Rollup initiatives would be successful, but he anticipated that specific projects might pivot in the future.

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