Vitalik Biderin: «The protocol will not be able to learn about the bribe»

In a recent interview for Podcast Conversations with Tyler, Vitaly Biderin discussed various features of cryptoneeconomics that are not characteristic of traditional models.

During the conversation, the creator Ethereum touched on many topics from centralization and scalability to «star wars», but his arguments were most interesting about the features of the functioning of virtual currencies. He noted that there are no single standards in Cryptoeconomics as in traditional. Any rules must be specified in accordance with the computer code standard, and not just for human interpretation.

In a digital economy, it is impossible to simply say that the bribe is illegal because there is no simple way to determine it. If a person really wants to bribe someone else, he can just go and do it in reality, and the protocol will not be able to learn about it.

Vitaly Biderin also voiced his point of view that anyone could now create cryptocurrency practically for free. He believes that although the process of launching its own virtual currency is quite simple, but only a small share of projects gains sufficient attention. Equilibrium lies in the fact that a certain group of coins are formed, which people recognize valuable.

Closer to the end of the conversation, Vitalik Biderin affected the influence of quantum calculations on the virtual currency. He said that ways to protect data are regularly improved. Now there are signatures based on hash, Stark for evidence with zero knowledge, fantastic isogenic elliptic curves for open key encryption and other methods of post-quarter cryptography. Therefore, developers will be able to adapt to changes and do not need to worry about it.

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