Ethereum Founder Vitalik Buterin: "We are in the Early Days of Crypto Usability"

At the Token2049 event on September 18th, Ethereum founder Vitalik Buterin delivered a keynote titled "What Excites Me About the Next Decade." In his speech, Vitalik emphasized that we are not in the early days of crypto itself, but rather the early days of crypto usability.

He began by highlighting the reasons behind the past failures of crypto adoption for consumer payments. High transaction fees and poor user experience were cited, with the primary culprit being exorbitant costs.

However, Vitalik asserted that by 2024, Ethereum will be ready. Transaction fees will have significantly reduced, with confirmation times reaching around 10 seconds on the Ethereum mainnet, and even sub-second confirmation for fast transactions. Other improvements include enhanced user experience, account abstraction, mainstream adoption of ZK-SNARKs, and increased Layer-2 (L2) ease of use. These advances will eliminate the technical limitations that have previously hindered adoption.