Babit's exclusive itaVitalik Buterin: DeFi is definitely a huge application, but not the only one that faces security challenges

On June 29, 2019, the "2019 Ethereum Technology and Application Conference" co-sponsored by CSDN and Ling Titan Technology was held in Beijing.

As the influential Ethereum Technology Conference in China, this session revolves around the Ethereum Eco-Panoramic, Ethereum Future Development, Ethereum Development, and Quality Project Cases, and invites Ethereum founder Vitalik Buterin, the core Technology developer Hsiao-Wei Wang, well-known project leaders at home and abroad, industry leaders and Ethereum eco elite experts discuss the new development of Ethereum and share the latest Ethereum development experience.


As the founder and soul of Ethereum, "Little Prodigy" Vitalik Buterin attended the conference and delivered a keynote speech. In addition, Buterin also accepted an interview from Babbitt and answered questions raised by the Babbit reporter.

Babbitt : Last week, you asked "what are the top 1-3 ethereum applications…" on Twitter. Someone mentioned the application of DeFi in the message, but this does not seem to be the answer you really want, please Given your answer to this question, what application do you most want to appear on Ethereum?

V God: I believe that decentralized finance is definitely a huge application, but it is not the only application. It currently attracts a lot of attention, and even receives more attention than other applications. But I also saw that DeFi faced many security challenges and even prevented DeFi from moving to large-scale applications. For example, a few days ago, there was a bug in the database of a DeFi platform, and then it was attacked and lost $37 million. I believe that if this area cannot be carefully and carefully expanded, then it will certainly not grow fast. In addition to DeFi, I am also interested in many different financial applications. The Ethereum Domain Name System (ENS) is one of them. Another example is that there is a project in Singapore that has received the support of many universities, governments and institutions. They put university certificates such as degree certificates on an Ethereum blockchain version. These things are very interesting, about your career information, protecting your account, and implementing decentralized hosting, which I find very interesting. In addition to DAO, not only existing DAOs, but also some economic mechanisms that people are creating, such as certain insurance contracts, etc., all of these different ideas are intended to be decentralized. Way to achieve. People have been thinking about these things for a long time, and now they finally see people starting to try to create something.

Babbitt : What do you think of the future blockchain ecosystem? Is it the biggest chain-led, or multi-chain coexistence?

V God: There must be multiple blockchains coexisting, but in the future more than 90% of the blockchains will be different from the existing blockchains, or only 9% of the blockchains will continue in 5-10 years.

After V God answered, Ethereum Foundation consultant Albert Ni supplemented this and expressed his opinion. Ni said:

I think there will be direct competition in many blockchains. If you think that the blockchain computing platform is an operating system, you might think that either running Windows or running macOS as before, you can't run on a single computer at the same time, they are competing. But I don't think the relationship between different blockchains is exactly the same in the future. In the future, you may see a blockchain with current applications that can run blockchains of different applications on your computer and switch back and forth between different use cases. This can be very exciting and there are more opportunities to benefit each other and more positive results. We should expect to have a positive impact on each other between different projects. But we must be aware that the time spent by users and developers on each chain is not the same. This is not to say that everything is perfect and it is still very early. Even with DeFi, I think the interesting thing about DeFi is that it reminds me of very early computers. At that time, you can use Linux and Unix. One of the design philosophies is compose. ability. You can open a terminal on Linux, you can enter a command and then get a standard output. You know, it can be connected to another input command that also uses this standard. This is almost all commands, just like Unix, they all decide to follow the standard.

When you use linux in a very interesting way, you can combine commands to make commands that are more powerful than a single command. I think we saw this in decentralized finance. Essentially, we are combining existing commands, but they still exist in inferiority. Just as commands on the terminal only exist inside the computer until people start using the computer in more ways. These are just the original commands that are connected to each other and then become more powerful and start doing more things.

So, you know, maybe a theorem becomes more of this basic layer command, just like everyone inserts into a different application. I am just saying a possibility, but I don't think it will happen. But let me give you an example. We can compare the existing and many things in the past. It certainly looks like we have never seen before. So, you know, even when considering competition, it is like, whether your Unix commands will compete with each other to help each other, serve different purposes, I don't know, maybe we will understand later.