Vitalik Buterin Discusses Early-Stage Developments In Crypto

According to PANews, Vitalik Buterin recently shared his thoughts on the early-stage developments in the cryptocurrency sector. Responding to a user on X, Buterin emphasized the importance of Layer 2 (L2) solutions becoming affordable. He noted that since 2020, he has been advocating for the necessity of low transaction fees for the broader crypto ecosystem to function effectively beyond just high-value DeFi applications. This vision only started to materialize in March of this year. Buterin also highlighted two other significant early-stage developments. Firstly, the maturation and practical use cases of ZK-SNARKs, citing examples such as zupass, railway, 0xbow, and rarimo. Secondly, he mentioned the advancements in account abstraction and ZK-email, along with similar centralized ID zk-wrappers. These innovations are crucial for the continued evolution and adoption of blockchain technology.