Vitalik Sees Blockchain Evolution Beyond Traditional Chains

Vitalik Buterin, co-founder of Ethereum, spoke at the 12th Global Blockchain Summit in Shanghai about the evolution of blockchain technology over the past 15 years.

In his speech, Vitalik highlighted how the industry is moving beyond traditional blockchains towards a broader technological stack that combines multiple tools and technologies, including zero-knowledge proofs, programmable cryptography, and other advanced cryptographic approaches.

He emphasized that the increasing power of data analytics and AI has made it necessary to revisit traditional blockchain privacy assumptions, which are no longer sufficient.

Vitalik mentioned several key technologies, including SNARKs, STARKs, fully homomorphic encryption (FHE), and formal verification, as essential components of this new technological stack.