Acne Buterin and the CTO Coinbase — stalking, zk-SNARKs, and much more
October 5 in the conference, ETH San Francisco (positioning itself as the world’s largest forum of software developers of Ethereum) acne Buterin and technical Director of the company Coinbase Balaji Srinivasan answered questions from the audience. Author Crypto Globe Siamak, masnavi quoted the most interesting and relevant thoughts two luminaries in the world of cryptocurrency.
Perhaps the best question posed Buterin, was: “What characteristics of other blockchains should adopt the Ethereum?”
Acne: If you talk about the relationship of technology and community, in zcash for me like a kind of insulation from the zcash for zcash for Foundation Company, Zooko [Creator zcash for Bryce Wilcox] — part of one but not the other part… Also I find interesting the idea Zooko that practical control over the development process of the Protocol and the rights to the trademark needs to be separated from each other. This is a very interesting idea that ought to be adopted by the Ethereum and possibly other public blockchains. Unfortunately, there is no reasonable way to make the brand did not belong to anyone, and this is a pragmatic approach that minimizes possible harm from centralization in this situation.
Then Vitalik and Balaji asked to tell what they think about the various technologies used in cryptosphere (they overestimated or, on the contrary, underestimated).
zk-SNARKs acne: I would say that the assessment is adequate. zk-SNARKs is extremely effective. I think that the proof with zero disclosure of the confidential information is a significant achievement towards the development of cryptography. The fact that we are very close to the protocols that protect privacy for a very wide class of phenomena, including the languages of abstract programming, indicates a serious success. I think that members of the community recognize this. Balaji: zk-STARKs is still undervalued. The people in this audience are familiar with them, but after a few weeks the update will be launched the Sapling, they will receive a much wider distribution… C impenetrable protection zk-STARKs phenomenon will move to the next level, because we get rid of the need for trust. Therefore, I believe that all these technologies are underestimated in the sense that the masses are not yet well know them. Inconvertible tokens — NFT acne: I would say that at this stage they are overrated. I tend to be suspicious to the phenomena that cause too much noise. Balaji: I invest in CryptoKitties. I think that in the future, the NFT will play an important role. Now, as DappRadar shows, the volume of purchases and sales of collectibles and small NFT. But they are beginning to incorporate video games, and this combination will serve as the key to their popularization. So now they may be overrated, but in the sense of long-term prospects are undervalued. Stabilini acne: overall, I’d say they are undervalued. I still think many people don’t realize the extent to which stabilini solve one of the most serious problems of cryptocurrency. It consists in the fact that, using the application, we are facing extreme volatility. Stabilini largely solve this problem, allowing you to use applications that behave like traditional, those who work with dollars… In the long term these tokens will give traditional financial systems ability to be updated and set foot on the soil of cryptomeria if they wish. Balaji: I would say that stablitiy in our days it is undervalued. If there stablemen that people trust and are free from the risk of withdrawal from circulation, it will be possible to say that FINTECH to tablconv was the mobile industry before the iPhone. In the sense that all FINTECH companies would get a digital dollar. You will not have to negotiate with the banks programmed digital dollars on the blockchain. So really functioning stabilini extremely important. Scaling ofcan Balaji: I am convinced that ofcan highly underrated in the sense that most applications would cost to store user data in conventional databases Postgres and offer the functionality of the blockchain. If the blockchain provided the account balance, as well as addresses, users could send and receive funds. In this case the image data would be stored in a conventional database. Thus, your application would be two data storage, Postgres and blockchain. Such a model would be very important. Moreover, all that can be done outside the blockchain, and you need to do there, as long as the bandwidth of the block chain is quite small. If you want to handle multiple transactions and not to pay the fee, you need everything possible to make opchan and the blockchain to make the most concise digest.