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The Ethereum (ETH) blockchain needs to revive the cypherpunk revolution envisioned for the network in its early days.

The co-founder of the second largest cryptocurrency by capitalization, Vitalik Buterin, published a new post on his blog entitled Make Ethereum Cypherpunk Again that lists several ways to improve the network.

According to Buterin, Ethereum was originally intended to be a public decentralized, shared hard drive that could use peer-to-peer messaging and file storage. However, this vision began to fade in 2017 with the turn towards the financialization of the protocol, Buterin states.

Decentralization, open participation, resistance to censorship, and trustworthy neutrality are among the cypherpunk ideals Buterin wants to see in the future of Ethereum. He emphasized that rollups, zero-knowledge proofs, account abstraction, and second-generation privacy solutions that have become more common on the network, tenets that support the core cypherpunk values.

Buterin also said he was impressed by some of the developments created to solve the industrys biggest problems. He called decentralized exchanges (DEX) that provide improved tools for protection positive industry developments, mentioning Cowswap, Flashbots Protect, and MEV Blocker that helped limit sandwich attacks on Ethereum users.

Ethereum is a dark forest where on-chain traders are constantly vulnerable to getting exploited [] This is also true in other ways: smart contracts regularly get hacked, users wallets regularly get hacked, centralized exchanges fail even more spectacularly, etc.

Some X users were encouraged by Vitaliks plans, especially regarding cryptocurrency payments for retail clients. One of the users noted that practically no attention has been paid to this issue.

Thank you for highlighting consumer crypto payments. It does feel like Im the only one talking about it every day.

The good news is were also building it, and it works great https://t.co/GRcaZzJidF

Another user compared Vitaliks statement with the election campaign of former U.S. President Donald Trump and proposed creating a new token with the ticker MEGA (Make Ethereum Great Again) in support of Ethereum.

Influencer Ignas from DeFi Research posted a photo of Buterin in front of a poster with Justin Sun, the founder of the Tron network, joking that the place of the most decentralized ecosystem has already been taken.

"Background: the humble Tron founder and decentralization pioneer Justin Sun bravely leading forth the coolest and most decentralized crypto ecosystem in the global world." pic.twitter.com/cKfTWXdmu7

According to Buterin, the early vision of web3 [] is a different way of thinking about what Ethereum is: [] a set of technologies that could together form the base layer of a more open internet stack.

Excerpt from:

Vitalik Buterin outlines plans to 'make Ethereum cypherpunk again' - crypto.news