Ethereum Founder Warns Users ” It’s Not Safe”
The co-founder of Ethereum, the world’s second-largest cryptocurrency, has warned of vulnerabilities in cryptocurrency wallets. Buterin, who said these wallets were not ready for widespread adoption, sparked a debate.
Vitalik Buterin, 4th of Labitconf 2020. the day featured an interview with famous cryptocurrency podcaster and businessman Andreas Antonopoulos. Existing wallets are unsafe, Antonopoulos said, noting that user-friendly cryptocurrency wallets are needed.
Buterin noted that the cryptocurrency community does not pay enough attention to security issues, making it easier to lose a large amount of digital assets if a wallet is hacked. Ethereum’s co-founder also said:
“To me, we don’t talk about security issues enough because no one wants to admit that they’ve lost $ 200,000. Because if you admit that you lost $ 200,000, you’ll look like an idiot.”
The interview began with Antonopoulos noting which issues were not adequately discussed in the industry.
Crypto Ecosystem Needs To Be More ‘ Proactive’
Buterin stressed that cryptocurrency leaders need to work on solutions that are expected to benefit everyone, not just a single group of people, and therefore the cryptocurrency ecosystem needs to understand that protocols used today need to be more proactive to minimize their risks.
Ethereum co-founder comments on security side of cryptocurrency wallets:
“Even if you’re a super genius or really careful, the truth is that a system that requires you to make less effort not to lose your stuff is a better system.”