Vitalik Buterin Discusses the Development of Ethereum and the Current State of the Crypto Market

Ethereum founder Vitalik Buterin recently gave an interview, sharing his views on the current crypto market, the development of Ethereum, and the entire blockchain industry.

Vitalik Buterin stated that the current bear market environment has brought a sense of calm back to the crypto sector, which helps the industry refocus on its core values. He believes that the crypto sector made too many promises over the past year, leading to heightened public expectations and increased regulatory scrutiny. Now is the time for the industry to calm down and prepare for the next round of development.

In terms of technology, Vitalik Buterin pointed out that there is still significant room for improvement in blockchain scalability. He mentioned advancements in technologies such as Rollups, sharding, and ZK-Rollups, believing that these solutions are expected to greatly reduce transaction fees. At the same time, he also emphasized the importance of proposals like account abstraction.

When discussing the development progress of Ethereum, Vitalik Buterin stated that there are two opposing forces at play: on one hand, the community continuously brings forth excellent researchers and developers, accelerating the development; on the other hand, to avoid making mistakes, it is also necessary to appropriately slow down. He believes that this balance is healthy and helps Ethereum make some significant updates in the coming years while maintaining stability.

Regarding the upcoming The Merge upgrade, Vitalik Buterin believes that its impact has not yet been fully recognized and priced in by the market. He expects that after The Merge is officially implemented, it will further boost community morale, and the price of Ether may also react.

Vitalik Buterin also talked about the lessons from last year's Terra collapse incident. He pointed out that any project promising extraordinarily high returns should be treated with caution, as this is difficult to sustain in the real world. He was glad that Terra collapsed in time, avoiding larger-scale losses, and it also reminded the entire industry of the importance of fundamental principles.

Finally, Vitalik Buterin urged the Ethereum community to focus on developing meaningful projects instead of overly emphasizing token issuance and marketing. He cited examples such as proposals like ERC-4337, which, although they do not issue tokens, could bring about revolutionary changes and deserve more attention and support.