Ethereum founder Vitalik Buterin discusses the current state and future prospects of the encryption industry

In a recent interview, Ethereum founder Vitalik Buterin shared his views on the current state of the cryptocurrency industry and his outlook on the future development of Ethereum.

Vitalik Buterin stated that the current bear market environment has allowed the cryptocurrency industry to return to its roots. He believes that the past year has attracted a lot of attention to the crypto space, but it has also brought some negative effects, such as overpromising leading to inflated public expectations, attracting some bad actors, and drawing close scrutiny from regulators. Therefore, he thinks it is a good time for the crypto industry to refocus and prepare for the next round of development.

When discussing technological development, Vitalik Buterin pointed out that the scalability of blockchain still needs improvement, but progress has been seen in technologies such as Rollups, sharding, and ZK-Rollups. He specifically mentioned that some of the technical concepts he previously advocated for, such as Rollups and account abstraction, are gradually being implemented.

Regarding the development progress of Ethereum, Vitalik Buterin believes it is both fast and slow. On one hand, the continuous influx of excellent researchers and developers accelerates the development process; on the other hand, caution is needed to avoid mistakes. He sees this balance as healthy, as it can promote some radical changes, such as changes to the consensus mechanism, while also ensuring the stability of Ethereum as a public chain.

Vitalik Buterin also talked about the lessons learned from the Terra collapse event. He believes that this event has made people re-evaluate the importance of fundamental principles, especially regarding high-yield promises. He expressed that he was glad the Terra collapse happened in time, because if it had happened later, it could have caused even greater losses.

For the Ethereum community, Vitalik Buterin calls on everyone to focus on developing meaningful projects. He praised the development teams that, like ERC-4337, did not issue tokens, did not exaggerate their promotions, but concentrated on solving real problems.

Finally, Vitalik Buterin emphasized the importance of maintaining an open attitude. He expressed his willingness to listen to the thoughts of community members, understand their concerns, and provide assistance where possible.

Overall, Vitalik Buterin's perspective reflects an expectation for rational development in the encryption industry, as well as a continuous focus on technological innovation and community building.