Vitalik Buterin: “The protocol will not be able to find out about the bribe”

In a recent interview for the Conversations With Tyler podcast, Vitalik Buterin discussed various features of cryptoeconomics not found in traditional models..

During the conversation, the creator of Ethereum touched on a variety of topics, from centralization and scalability to «Star Wars», but the most interesting were his arguments about the features of the functioning of virtual currencies. He noted that there are no uniform standards in cryptoeconomics, as in the traditional one. Any rules must be specified in accordance with a computer code standard, not just for human interpretation.

In the digital economy, one cannot simply say that a bribe is illegal because there is no easy way to determine it. If a person really wants to bribe someone else, he can just go and do it in reality, and the protocol will not be able to find out about it..

Vitalik Buterin also voiced his point of view that anyone can now create a cryptocurrency almost free of charge. He believes that while the process of launching your own virtual currency is simple enough, only a small proportion of projects receive sufficient attention. Equilibrium means that a certain group of coins is formed that people recognize as valuable..

Vitalik Buterin: 'The protocol will not be able to find out about the bribe'

Towards the end of the conversation, Vitalik Buterin raised the issue of the impact of quantum computing on virtual currency. He said that data protection methods are regularly improved. There are now hash-based signatures, STARK for zero-knowledge proofs, fantastic isogenic elliptic curves for public key encryption, and other post-quantum cryptography techniques. Therefore, developers will be able to adapt to changes without having to worry about it..

As a reminder, Augur tote paid out the first $ 20,000.

text: Ivan Malichenko, photo: Conversation with Tyler

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