Buterin, Ethereum Co-founder, Raises 7 Queries To Crypto Community
Vitalik Buterin, co-founder of Ethereum, has raised seven important questions to the cryptocurrency community. The queries were shared on the WeChat. In the social media platform, Buterin is a member of a group named ‘Mars Finance’, created by Fred Wang and his partner Vivi Lin.
Fred Wang is also the founder of Linekong Group, which got listed on the Hong Kong Stock Exchange in 2014 after the success of ‘Three Swords’. In the same year, Wang also founded Linekong Technology and introduced FUZE, China’s first game console.
Vivi Lin, general manager of Mars Finance International WeChat community, is a television host, as well as enterpeneur, investor, and blockchain advocate.
The following are the queries raised by Vitalik Buterin
- Bitmain and affiliated pools now have ~53% of all bitcoin hashpower. Isn’t this a really big problem?
- Why aren’t there any useful large-scale applications yet?
- Why are there not yet good solutions to account security? When will the problem of account hacks and thefts be solved?
- How can decentralized apps work well even with 5-10 second blockchain latency?
- PoW is burning billions of dollars per year, even more than all scams and thefts combined,” Ethereum’s co-founder asked, “Isn’t this a big tragedy?
- What are the centralization risks in proof of stake?
- 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?
The members of the group have expressed their personal opinion. However, we can expect prominent people in cryptocurrency sector to discuss and provide their opinion in the days to come. It would be interesting to see how EOS community defends itself to the final question.