Vitalik Buterin said on Wednesday that Ethereum (CRYPTO: ETH) is gradually transforming from just a blockchain into a “much bigger” network with multiple layers.
Ethereum Becoming More Than a Blockchain?
At the 12th Global Blockchain Summit in Shanghai, Buterin expressed optimism about the “huge amount of progress” in the Ethereum world, both at the protocol and application levels.
He indicated that every hard fork — a permanent change to the blockchain’s protocol— a year from now will involve “very advanced” cryptographic features, including “quantum-safe” signature algorithms.
Technology Evolution
Buterin argued that many applications on Ethereum were created before newer technologies—such as programmable privacy and the ability to verify the security of complex code—became available. Today, he said, those tools are increasingly within reach.
“All of these things together, they all are turning Ethereum from being just a blockchain to being this much bigger network with different layers at it,” the cryptocurrency entrepreneur said.
Buterin’s Views on AI and Crypto Intersection
Buterin has been a strong proponent of AI, frequently backing AI-powered solutions to help combat the AI threats to cryptocurrency security.
In February, he mapped out key ways Ethereum could team up with AI, detailing four interconnected priorities in a 2×2 framework.
Earlier this month, Butering pushed back against a prediction that AI could undermine Bitcoin’s (CRYPTO: BTC) security and trigger a more than 50% price crash within two years.
Price Action: As of this writing, ETH is up 1.4% in the last 24 hours to $2,714, according to Benzinga Pro.
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