In an interview with Time Magazine, Vitalik Buterin talks about the dangers of crypto

Ethereum co-founder Vitalik Buterin graced the cover of Time Magazine this month after interviewing the publication about the potential dangers of the industry he helped create.

During the 80-minute interview, Buterin explained the “dystopian potential” of digital assets when implemented incorrectly. Among its biggest concerns are overzealous investors, high transaction fees, and the public display of wealth by those who claim to have made fortunes trading cryptos and non-fungible tokens (NFTs).

Even though buterin Has high hopes for Ethereum — the network that powers the second-largest cryptocurrency by market cap and countless other projects — he fears his vision of creating a more egalitarian digital economy risks being overtaken by nefarious players chasing only greed are.

“If we don’t exercise our voice, only the things that are immediately profitable will get built,” he said.

The interview also addressed other Ethereum-focused pain points for Buterin, such as: 2016 Hack of a decentralized autonomous organization, or DAO. The interview portrayed Buterin as a pragmatic leader who takes a “middle” approach to solving problems that impact the community.

Over the years, Buterin has used his personal blog to advocate for technical solutions related to Ethereum development. In December 2021, he released “Endgame”, a thought experiment examining the development of Ethereum 2.0, now referred to as the “Consensus Level”. In the post, Buterin proposed network scalability improvements with notable trade-offs — chief among them being centralization of block production.

Related: Andreessen Horowitz invests $70 million in Ethereum staking protocol Lido

As Ethereum’s evolution into a proof-of-stake chain continues to face delays, the investor community has high hopes for the future. Ethereum’s Beacon Chain now Has over 316,000 validators and around 10.1. Billions of ETH staked.