Vitalik Buterin Asks Cryptocurrency Community's 7 Toughest Questions To Date

    Vitalik Buterin, Ethereum’s co-founder, raised important questions to the crypto community worldwide. These queries were shared through WeChat, a platform from where Buterin is a member of the group called ‘Mars Finance.’ The founders of this group are Fred Wang and Vivi Lin.

    It is important to mention that Mr. Wang is the founder of Linekong Group, a company that got listed at the Hong Kong Stock exchange back in 2014. During the same year, Wang founded Linekong Technology and introduced FUZE, the first gaming console from China.

    Vivi Lin, is the general manager of Mars Finance International WeChat community. At the same time, he is a television host and entrepreneur.

    Vitalik Buterin raised the following queries:

    1. Bitmain and affiliate pools now have 53% of all bitcoin hashpower. Isn’t this a really big problem?
    2. Why aren’t there any useful large-scale applications yet?
    3. Why are there not yet good solutions to account security? When will the problem of account hacks and thefts be solved?
    4. How can decentralized apps work well even with 5-10 second blockchain latency?
    5. PoW is burning billions of dollars per year, even more than all scams and thefts combined. Isn’t this a big tragedy?
    6. What are the centralization risks in proof of stake?
    7. Given how EOS governance has turned into an epic fail, doesn’t this mean that all on-chain governance including DAOs is fundamentally flawed? How can any DAO deal with bribe attacks, plutocrats and other risks?

    After these queries were risen, the different members of the group expressed their opinion on each of these topics. But it will take some time until some important figures in the crypto world will start talking about this situation.

    The EOS community has an interesting question to answer and a governance model to defend, which will be quite interesting to follow.

    Bitcoin and defenders of PoW will also have to show their defense of the Proof-of-Work system and how it is properly functioning.

    And what about Bitmain? Is the 53% hashing power a sign that there is something wrong going on there? In the next weeks we will see how people and companies involved in these queries will start answering back and generating a very rich debate in the general crypto community.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Indian State Telangana Govt Launches Blockchain Accelerator With Tech Mahindra

    The IT arm of Mahindra Group and the Telangana government have closed a partnership and aims to launch a blockchain accelerator that will be...

    Ripple Co-Founder' Claims His XRP Sell-Off Doesn't Impact The Market Is ‘Simply Preposterous'

    XRP Whale and former Ripple CTO argues his huge sell offs Not possible to sell off over 2% of the total supply without...

    Ripple (XRP) Price Analysis (February 19)

    Key Highlights The US dollar has now forced the XRP price value into a range trading condition. The XRP/USD price now hovers around $0.30...

    Microsoft Azure Integrates Lition’s Blockchain Tech to Scale Commercial Operations

    Microsoft is one of the fast-moving IT giants in blockchain research for leverage with their existing services. The firm recently integrated Lition blockchain which...

    European Space Agency to Use Blockchain-Powered Satellite Data For Mining Transparency

    Blockchain tech is fast on the track of providing solutions from space despite a skeptical approach towards its major use as per now ‘cryptocurrencies’....

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.