Vitalik Buterin talked about the main challenges associated with the Ethereum blockchain ecosystem, during a speech in Singapore.
Vitalik Buterin is a Russian-Canadian software programmer. He is known as a successful crypto entrepreneur in the crypto space because of his success with the Ethereum (ETH) blockchain. With the help of the Ethereum blockchain, Vitalik helped to bring a very big level of innovation in the blockchain industry.
On 9 Sep 2023, During a speech at Nanyang Technological University in Singapore, Ethereum co-founder Vitalik Buterin said that the high level of privacy, security, & scalability is still a very big challenge for the Ethereum blockchain ecosystem.
Vitalik noted that the Ethereum community is doing well in fighting against these challenges. In short, the Ethereum co-founder believed that the participants in the Ethereum blockchain ecosystem are enough to fight against the existing challenges.
According to Vitalik, this is a time to work to bring the Ethereum blockchain into practical use, so that people can use this highly decentralized technology with true benefits. According to the Russian-Canadian software programmer it can be done through a decentralised collaboration & technical level hardworks.
Two days ago, Vitalik published a paper as a first author with some other blockchain technology experts to explain the core idea use case of Zero-knowledge proof, so that people can transfer their funds with others but remain away from illegal/suspicious transactions without leaving the whole identity behind.
Ethereum (ETH) price
The current trade price of the Ethereum coin is $1,631 & this trade price has been neutral over the last 24 hours trade price.
Just a day ago, a popular firm Ark Invest filed for Ethereum spot ETF product with the United States Securities and Exchange Commission (SEC) but strangely the trade price of ETH remained unfazed.
Some people believe that the market cap of Ethereum coin is not big & big investors can easily manipulate the trade price of ETH, so there are very rare chances for Ethereum spot ETF application approval.
Read also: CFTC takes enforcement action against three Defi protocols
Vitalik says Ethereum needs to be use in practical purposes
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