Vitalik Buterin answers questions on Ethereum's future

Ethereum creator Vitalik Buterin answers users' questions on Ethereum's future
16 August 2017   1334

It's been a tough times for Ethereum recently: a crash due to the rumours about Vitalik Buterin's fake death, a hacking scandal, Bitcoin fork resulting in the feeling of uncertainty in the whole cryptocurrency community. 

However, despite all the difficulties, Ethereum is still very much alive and even seems to be recovering:

Ethereum charts on coinmarketcap.com Ethereum on coinmarketcap.com

Now, Ethereum creator Vitalik Buterin answers users' questions on Ethereum's future on an online chat forum thenextweb.com. 

Buterin’s answers about Ethereum's future are largely encouraging and reinforce the justification to stay excited about what’s coming. The creator of Ethereum discussed the implementation of new programming languages that will be specific to Ethereum. Among these new coding types, Buterin named Viper, Bamboo, and LLL, while also stating that Solidity would continue to improve.  

Buterin also discussed engine compilers and new languages. When asked if he felt that more developers would be attracted to Ethereum by creating compilers for languages already used in traditional software development, like JavaScript, Buterin replied that there are several challenges:

First of all, existing c++ and other compilers tend to output code that is really not optimized for compact code size; eg. even the simplest program outputs a file that is longer than 4kb. This is ok for computers, where storage is cheap, but terrible for blockchains, where storage is expensive. So specialized compilers are required.
 

Vitalik Buterin
The creator of Ethereum

Buterin also argued that Ethereum Virtual Machine executable distributed code contract (EDCC) languages need to be designed with “a particularly strong focus on security, which is not something that most existing languages care about to the same extent.” 

Buterin’s most in-depth response came when answering a question about how updates work on Ethereum. Thus, Buterin admits that both the research that goes into an update and the hard fork that makes it possible are complex processes involving multiple steps. He describes the initial starting point of an idea, and how it gets built out by sharing it with other researchers and outside contributors. These ideas “often involve many iterations, thinking, writing, debating and sometimes formal proofs,” said Buterin.

Eventually the proposal becomes concretized into an ‘Ethereum Improvement Proposal’ (EIP), which is precise enough that it should include all of the information required for an implementer to implement the specification.
 

Vitalik Buterin
The creator of Ethereum

During the initial stage, anyone is welcome to comment on an EIP and every two weeks, Ethereum core developers have conference calls to debate the merits of these proposals. This planning stage has the highest level of scrutiny, Buterin continued: “many proposals are thrown out, modified, split or merged several times.” Buterin’s description of this stage also showcased the strength of Ethereum’s culture. “So far we have managed to agree on every EIP,” claims Buterin. 

The only time anything seriously controversial was proposed was The DAO fork, and this ended up being resolved through a series of polls and votes, followed by implementation, and ultimately a chain split.
 

Vitalik Buterin
The creator of Ethereum

The creator of Ethereum further explained that, after a proposal has been approved, tests are written, mainly in C++ and occasionally Python. Once all major implementations have passed the scripted tests, a date is picked for a hard fork on the testnet and mainnet, usually involving a gap of several weeks between the two. From there, the new client is released with the hard fork.

Buterin also mentioned that Metropolis, Ethereum’s next evolution, is currently undergoing a testing phase and should be ready in “a couple of months.” 

When asked how his initial vision has evolved since starting Ethereum, Buterin replied by saying the platform has moved beyond programmable money and now the consensus algorithm is developing. Perhaps the only thing that Buterin hadn’t counted on was “the large amount of industrial interest.” Buterin concludes: “The institutional participation in the community is certainly far higher than I expected.”    

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.