The co-founder of Ethereum, the world’s second largest cryptocurrency, issued a warning about crypto wallet vulnerabilities, stating that these tools are not yet ready for widespread adoption and encouraging more discussions on security issues.
Buterin calls for more user-friendly crypto wallets for non-technical users
During the 4th day of Labitconf 2020 on December 10, 2020, Vitalik Buterin participated in an interview with the famous crypto podcast and businessman Andreas Antonopoulos. The Canadian-Russian programmer pointed out that because the current e-wallets are “insecure”, more user-friendly crypto wallets are needed.
Buterin pointed out that the encryption community has not paid enough attention to the topic of security, which makes it easy to lose a lot of digital assets if the wallet is hacked. The co-founder of Ethereum also stated:
I think we haven’t discussed security issues enough because no one wants to admit that they lost $200,000, because if you admit that they lost $200,000, you look like an idiot.
The conversation began with Antonopoulos talking with Buterin, discussing which topics are not sufficiently important in the industry.
In the discussion, the podcast added that “becoming your own bank” bears the responsibility of people not even fully understanding, which is another unresolved topic.
The crypto ecosystem needs to be more “proactive”
On the other hand, Buterin emphasized the importance of the ecosystem must understand that cryptocurrency leaders are developing solutions that are expected to benefit everyone (rather than just a group of people), which is why the cryptocurrency ecosystem needs “more” the reason. Actively reduce the risk of using the current agreement.”
The co-founder of Ethereum made more comments on the security of crypto wallets:
The fact is that even if you are a super genius or can be really careful, a realistic system is a better system that requires you to put in more effort without losing your own things.
According to the latest developments in the Ethereum field, the research and analysis team Coin Metrics released a report on how decentralized finance (defi) is driving the growth of Ethereum on September 30, 2020, stating that the cumulative ETH fee in 2020 has replaced it Bitcoin. In the long run, with high oil prices, “is becoming the new norm.”
Do you agree with Buterin’s comments? Let us know in the comments section below.
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