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Ethereum co-founder: The encryption industry enters a special development period, outlook for the next decade.
The development prospects of the encryption field in the next ten years
The co-founder of Ethereum recently gave a speech on the outlook for the cryptocurrency industry over the next decade. He believes that the current cryptocurrency sector is no longer in its early stages but has entered a unique period of development.
The speaker reviewed their personal experiences in Argentina, pointing out that high transaction fees have been a major barrier to the adoption of encryption currency. However, the transaction fees on the Ethereum network have recently dropped significantly, from previously $10 to less than 1 cent. At the same time, the security of Layer 2 solutions is also continuously improving.
In addition to the cost issues, the transaction confirmation time has also improved significantly. Currently, the transaction confirmation time on the Ethereum mainnet is stable between 5 to 15 seconds, and using Layer 2 solutions can even shorten it to 1 second. These advancements greatly enhance the user experience of decentralized applications.
The speaker emphasized that the value of cryptocurrency lies not only in the improvement of technical efficiency, but more importantly, it can create a "digital robustness." This characteristic enables blockchain to build durable and powerful digital structures, providing new possibilities for the internet.
In future development, the speaker believes that the key objective is to meet the needs of mainstream adoption while maintaining the values of open source and decentralization. He used wallet security as an example to introduce innovative solutions such as multi-signature smart wallets, which can both protect user asset security and provide a convenient user experience.
Finally, the speaker looked forward to the technical improvements of the Ethereum mainnet, including reducing final confirmation time, increasing capacity, and enhancing decentralization and verification convenience. He believes that these advancements will guide the development direction of the entire encryption industry in the next decade.