Vitalik: We are now in the early days of crypto availability
According to live reports, Ethereum founder Vitalik gave a keynote speech on "What Excites Me About the Next Decade" at Token2049 held on September 18. In his speech, Vitalik said that we are not in the early days of crypto, but in the early days of crypto availability. He first summarized the reasons why crypto consumer payments have failed in the past, due to transaction fees and various other user experience issues, but in fact it is mainly due to fee issues. But by 2024, Ethereum is ready, transaction fees have dropped significantly, transaction confirmation time has also dropped to around 10s on the Ethereum mainnet, fast confirmation or even less than 1s. Other improvements include significant improvement in user experience, account abstraction, ZK-SNARK mainstreaming, and L2 ease of use. The limitations of past technologies are no longer limiting factors.