Ethereum Founder Vitalik Buterin showcases blockchain technology

vitalik buterin ethereum

Despite the downtrend and the disappointment of many investors, the adaptation of blockchain technology is making further progress. In a “Tweetstorm”, Ethereum found Vitalik Buterin demonstrated diverse application fields for Blockchain technology.

Vitalik Buterin, the founder of Ethereum, published a series of tweets about Blockchain technology. Buterin showed that the technology can be used not only for financial transactions and projects. Scalability is getting better.

As a result, it is becoming easier for users to take advantage of these innovations. According to Buterin, this will significantly influence the “history of our time”. Furthermore, he stated that blockchain is not only used as a means of transfer but that possibilities arising from cryptography are quite diverse.

Blockchain: The

The blockchain can verify educational diplomas and is already used in some countries around the world. The Ministry of Education of Malaysia recently announced that university degrees will be verified using the NEM Blockchain. In the Bahamas, a similar system was already established at the beginning of the year.

Buterin criticized that awareness did shift too much towards financial applications, while the actual progress of blockchain technology did not receive too much attention. For him, this is much more important than generating quick profits.

Furthermore, he emphasized the security as well as immutability of the blockchain. For Buterin, Storing values in the blockchain is also safer than storing money on a central server. This is not possible within the blockchain, however many wallets are not 100% secure.

This feature is particularly important in the case of censorship. Governments so far had the ability to eliminate documents or unwanted information. Blockchain technology prevents this, as permanent storage is possible, and no central device (such as a server) can be turned off.

Buterin pointed out that in the past interests in the further development of the crypto market should not only follow pure financial interests, but should focus on the progress of the entire ecosystem.

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