Vitalik: “Bitcoin (BTC) prioritizes decentralization… limited scope for optimizing privacy”
Summary
- Vitalik Buterin said Bitcoin (BTC) made decentralization its top priority from the early stages of its design.
- He noted that as a result of this design choice, privacy could not be fully optimized.
- He added that over the past 10 years, with advances in zero-knowledge proof-based privacy technologies such as zk-SNARK, parts of the Ethereum ecosystem have begun exploring ways to reintroduce privacy into on-chain systems.
Ethereum (ETH) creator Vitalik Buterin commented on Bitcoin’s (BTC) design philosophy and the limits of its privacy.
According to crypto-focused media outlet Wu Blockchain on the 23rd (local time), he said at an event in Chiang Mai, Thailand, “From the outset, Bitcoin’s design had to make decentralization its top priority,” adding, “as a result, privacy could not be fully optimized.”
Vitalik explained, “Early cryptographic technologies tended to rely on centralized institutions to protect privacy,” and “given the technological constraints at the time, it was practically difficult to perfectly achieve both decentralization and privacy protection at once.”
He added, “Over the past 10 years, as zero-knowledge proof-based privacy technologies such as zk-SNARK have advanced, parts of the Ethereum ecosystem have begun exploring ways to reintroduce privacy into on-chain systems.”
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
