Blockchain Shifts from Scaling to Redefining Privacy and Computing
Vitalik Buterin, co-founder of Ethereum, spoke at the Wanxiang Blockchain Week about the evolution of blockchain technology over the past 15 years.
The era of 'everyone having to repeat everything' is coming to an end, he said. Blockchain has moved beyond simple scaling and is now focused on redefining privacy and computing.
In the past, blockchain was primarily used for open participation, global reliability, security, and neutrality. However, with the rise of powerful data analytics and AI capabilities, traditional approaches to privacy are no longer sufficient.
To address these challenges, researchers have been working on advanced technologies such as zero-knowledge proofs (SNARKs and STARKs) and fully homomorphic encryption (FHE). These tools enable more efficient verification processes and protect user data.