Vitalik Buterin: "zk-STARK will become no less important technology than blockchain"

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The co-founder of Ethereum believes that the zero-knowledge proof protocol zk-STARK is extremely promising and in 10-20 years will take no less important place than the blockchain.

Vitalik Buterin made his statement induring a conversation with Mask Network founder Suji Yan at the NFT Taipei event. The Ethereum co-founder assured that zk-STARK is an extremely powerful privacy and security technology. The zk-STARK protocol could solve blockchain's problems of scaling and privacy, although the potential could be used for other things, Buterin reasoned.

Using the protocol to provideThe privacy of transactions will vary depending on the application, the co-author of Ethereum is sure. But as for the scalability of the blockchain, developers continue to improve the zk-EVM technology. This second-layer solution for transaction verification can make Ethereum faster and more scalable, while Buterin hopes the Optimistic Rollup solution for scaling the network also looks optimistic.

Suji Yang and his interlocutor also touched upon the topic of the bankruptcy of the FTX exchange. Buterin emphasized that exchanges must be decentralized, then such events will simply be impossible:

“The fall of FTX took away the money of manyusers, while Uniswap and MakerDao continue to work perfectly for years. “I hope by 2025 people will understand the benefits of cryptocurrencies and non-financial applications on the blockchain, and access them on-chain rather than through Binance accounts.”

Previously, Vitalik Buterin advised
cryptocurrency traders should pay more attention to technology rather than the market decline.