Vitalik says Ethereum needs to be use in practical purposes 

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.

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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. 

Vitalik Buterin pointed out in a speech at Nanyang Technological University in Singapore that the biggest issues facing Ethereum are still privacy, consensus, smart contract security and scalability. The Ethereum community strives to make the platform more decentralized and…

— Wu Blockchain (@WuBlockchain) September 8, 2023

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.

Vitalik published the paper "Blockchain Privacy and Regulatory Compliance: Towards a Practical Equilibrium" as the first author with others, the core idea is to allow users to publish a zero-knowledge proof, demonstrating that their funds (do not) originate from known (un-)lawful…

— Wu Blockchain (@WuBlockchain) September 6, 2023

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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