Chainfeeds Summary:
Ultimately, Ethereum must achieve a decentralized, permissionless, and resilient block space, and enrich it.
Article source:
https://x.com/VitalikButerin/status/2008174642066845778
Article Author:
Vitalik Buterin
Opinion:
Vitalik Buterin: "Efficiency" and "convenience" usually mean further optimizing the average experience when things are already pretty good. Efficiency means having the world's best engineers dedicate all their energy to reducing latency from 473 milliseconds to 368 milliseconds, or increasing the annualized return from 4.5% to 5.3%. Convenience means turning three clicks into one click, or shortening the registration process from one minute to 20 seconds. These things are certainly valuable. But the premise is: we must be clear that in the game of efficiency and convenience, Ethereum can never play better than the big tech companies in Silicon Valley. Therefore, Ethereum must truly participate in a fundamentally different game. What game is that? Resilience. The game of resilience is not about the difference between 4.5% APY and 5.3% APY, but about minimizing the probability of encountering -100% APY. Resilience means that when you become politically unpopular and are banned by platforms; when the application developers you rely on go bankrupt or disappear; when Cloudflare goes down; when an internet-level cyberwar breaks out; your 2000 milliseconds latency is still just 2000 milliseconds, not service unavailability. Resilience means that anyone, anywhere in the world, can access this network and participate as a first-class citizen. Resilience is sovereignty. This sovereignty forms the basis of equal interdependence, not as a vassal of corporate hegemony thousands of kilometers away, but as an equal participant. This is precisely the game that Ethereum is best suited to win. And in an increasingly unstable world, this value will be needed by more and more people. The underlying DNA of Web2 consumer technology is not suitable for pursuing resilience. The DNA of traditional finance does indeed highly value resilience in some aspects, but it is a very incomplete resilience; it is good at dealing with some risks, but has almost no defense against others. Block space itself is abundant. But decentralized, permissionless, and resilient block space is not abundant.
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