Full transcript of Vitalik Buterin’s speech: A 30-minute introduction to Ethereum (2025 version) | Bee Network

Full transcript of Vitalik Buterin’s speech: A 30-minute introduction to Ethereum (2025 version) | Bee Network Login Berita Trending Meme Launchpad Agen AI DeSci Penjelajah Rantai Atas Untuk Newbee 100x Koin Permainan Lebah Situs Web Penting APLIKASI yang Harus Dimiliki Selebriti Kripto DePIN Pemula Penting Detektor Perangkap Alat Dasar Situs Web Tingkat Lanjut Pertukaran Alat NFT Hai, Keluar Alam Semesta Web3 permainan DApp Sarang lebah Platform Berkembang IKLAN Mencari Bahasa inggris Isi Ulang Koin Gabung Unduh Universitas Web3 permainan DApp Sarang lebah IKLAN rumah-Analisis-Full transcript of Vitalik Buterin’s speech: A 30-minute introduction to Ethereum (2025 version) Full transcript of Vitalik Buterin’s speech: A 30-minute introduction to Ethereum (2025 version)Analisis3 bulan yang lalu更新Wyatt 18,483 6 It is a computer of limited size, but designed for global consensus, extreme robustness, and decentralization, which anyone, anywhere in the world, can trust will run continuously exactly as programmed.

Ethereum in one sentence: It is not FTX

I’d like to summarize Ethereum in one sentence. Does anyone here remember FTX? (Raise your hand) Do you remember Mt. Gox? (Raise your hand) Okay, quite a few people.

I don’t actually have much negative feelings towards Mark Karpeles of Mt. Gox. I think he made a big mistake, but if you look at his every action afterward, I think he’s been trying to learn from it, adapt, and commit to positive-sum security.

But FTX, I think, is a perfect example that precisely demonstrates what you get if you take the principles of Ethereum, turn them completely 180 degrees, and… and it’s not me putting his face (SBF) on it. Every FTX ad features SBF’s face as the most prominent feature, five times more eye-catching than any other element.

So, to sum up Ethereum in one sentence: it’s not like FTX .

Key points about Ethereum:

1. From “centralized trust” to “verifiable by anyone”

FTX is a centralized exchange where people have invested huge sums of money. You simply cannot verify whether FTX is truly solvent. And, of course, it ultimately proved otherwise.

2. From “Do no evil” to “Be unable to do evil”

“Don’t be evil” was Google’s famous early idealistic motto, especially when it was a small company. It seemed genuinely proud to be a company that created positive value. Of course, as Google grew, these positive values began to truly fade over time, and eventually the motto was officially abandoned in the last decade, now seemingly replaced by something more mundane like “do the right thing.”

The approach of the previous generation of technology, and the approach we have already seen many of its consequences, was to stand up and shout, “Trust me, because I am a good person.”

The key point of decentralized technology and blockchain is that you don’t have to trust them.

3. From “I build for you” to “We build for each other”

Another major difference is “I build for you” versus “we build for each other.” There’s a very subtle, but I think extremely important, distinction between companies and communities.

Another example that comes to mind is Estonia’s e-Residency. I’m actually a little hesitant to criticize it because it’s truly innovative and has many positive aspects.

It was incredibly advanced for its time, allowing you to open bank accounts digitally, vote digitally, and do a lot of e-government. I remember one of the project’s more idealistic visions was for Estonia to expand into a digital nation. e-Estonia could be much larger than physical Estonia with its 1.3 million residents.

The challenge is that this misunderstands what a true community is.

eEstonia is very successful as a service provider ; it operates on a hub-and-spoke structure. You have a central entity (the Estonian government) providing the service. Their services are invaluable, helping many people around the world (e.g., accessing EU bank accounts).

But it’s not a community. The difference between a company and a community is:

The company has a central, radiating structure: at the center, there is something that does the work and collects money. A community is where everyone (or a great many people) does things for one another.

It is open—not just in the sense of OpenAI (there is an open API you can use), and not even in the sense of many open LLM works.

It is open in the full-stack sense, open not only to consumption but also to creation .

4. From “appeasing politicians” to “credible neutrality and freedom”

Furthermore, “pleasing politicians” (in the old model) has been replaced by “credible neutrality and freedom” (as Ethereum strives for).

Ethereum is a global network that exists for the world and aims to protect the freedom of all people. It is not designed to appease any particular company or superpower at the expense of everyone else.

We do believe in the concept of “global.” If you find the word “global” too sour, you can use “local universe” or “cosmolocal.” There are many different words, but we are here to influence the world.

What is “Ethereum, the world computer”?

So, let’s talk about Ethereum, the world computer.

Ethereum is a global, open, and censorship-resistant platform for building decentralized applications.

A new block is generated every 12 seconds, and each block contains a set of transactions. The blockchain processes slightly less than 2 million transactions per day. I think it will soon exceed 2 million as the gas limit increases.

Then there’s the consensus mechanism. Previously it was Proof of Work, now it’s Proof of Stake. The job of a blockchain is that, as a user, anyone can send transactions (basically, instructions on “what I want to do”), and the blockchain ensures that everyone agrees on what happened (such as which transactions were sent and in what order).

Programmability: The Core Distinction of Ethereum

The main difference between Ethereum and previous technologies lies in its programmability .

Blockchains prior to Ethereum were either single-purpose protocols (used only for a specific application) or what I call “Swiss Army knife” protocols—where developers say, “Here are 14 different applications, and we create 14 different transaction types to support them.” If someone discovers a 15th application, then we have to hard fork the protocol.

Ethereum embraces programmability. You can upload a computer program, no matter what application you want to make.

Due to some historical reasons (related to Nick Szabo, early kriptography, etc., you can look it up), these programs are called “contracts”. They are smart contracts.

Many legal professionals get confused by the word “contract.” So just know that “contract” here is a technical term , just like “Promise” is a technical term in JavaScript.

You upload computer programs to the blockchain, and these programs run automatically when users send transactions and interact with them.

So, technically speaking, that’s basically it. It’s the “world computer”: not that it’s a computer large enough to handle all the computing in the world (including all the crazy LLM inference and cat video generation).

It is a computer of limited size, but designed for global consensus, extreme robustness, and decentralization , which anyone, anywhere in the world, can trust will run continuously exactly as programmed.

What is the strength of blockchain?

1. Finance and DAO (solving double-spending)

It’s clear that the initial and largest category was payments and financial applications. The first blockchain, Bitcoin, was born as peer-to-peer electronic digital cash. Even with Ethereum, if you look at the Ethereum white paper, about half (or more) of the list of applications that inspired Ethereum are different types of financial applications: asset issuance, asset exchange, financial derivatives, and even prediction markets.

There are also DAOs (Decentralized Autonomous Organizations). This system encodes the rules of an organization (such as a company) onto the blockchain, and these rules then directly control the assets owned by that organization.

Blockchain tends to excel at these things, and one frequently cited reason is that it solves the double-spending problem .

You might ask, why do we need the concept of “consensus” or “unity”? Why do we need proof-of-stake nodes to vote on which transactions occur in what order?

What if there’s no consensus? What if we only had a decentralized network like BitTorrent? You could upload files to BitTorrent, and anyone could download them. You could even (theoretically) have files contain programs and run them automatically.

To understand why that mechanism doesn’t work for currency, the simplest question is the “double-spending” problem.

The problem is, suppose I have 1 ETH, and I send 0.7 ETH to someone on the other side. I broadcast this transaction. Then, simultaneously , I send another transaction, sending 0.7 ETH to someone else on this side.

In total, I turned 1 ETH into 1.4 ETH. If people can do this, ETH will experience hyperinflation and its value will drop to zero.

If you don’t want this to happen, you need a way to determine which transaction occurred first . That’s where blockchain comes in.

2. Non-financial applications

Blockchain has applications beyond finance as well.

Perhaps the most successful non-financial application is ENS (Ethereum Name Service), which I’m sure you’ll hear about in many places this week. You can essentially own your own name. You can register an unclaimed .eth domain (I have Vitalik.eth).

This is a username that is used throughout all Ethereum applications and is not controlled by any single service provider . It is not like a Google account or a government-issued name.

3. Resistance to review and proof

Blockchain provides strong participation guarantees, also known as censorship resistance. It strongly guarantees that if you send a valid transaction (i.e., one that complies with the protocol rules), it will be (and quickly) packaged. This is valuable in many areas, including finance (preventing market manipulation).

Blockchain excels at “proof of inexistence,” which proves that only a limited number of items were issued. For example, if you want to issue 1,000 stamps representing community members, you can prove that you only issued 1,000, not 10 million, proving that you did not hoard any.

It also applies to timestamp proofs : proving that something was not manufactured before a certain point in time; or conversely, proving that something was manufactured before a certain point in time. This is useful for video authentication and other use cases.

Therefore, blockchain is a diverse tool with both financial applications and other interesting “long-tail” applications.

What is blockchain inherently bad at?

1. Privacy

Zooko of Zcash famously called Bitcoin “Twitter for your bank account.” Does anyone here want all their financial transactions to automatically become tweets?

But you must realize that if the transactions you send on the blockchain are not private, someone could easily create a Twitter bot that automatically waits for you to send a transaction, analyzes it with an LLM, tries to figure out who you sent it to, and then tweets about it. This is closer to “Twittering your bank account” than you might imagine.

2. Extreme scalability

If you want to run an LLM program on Ethereum to generate a picture of a cat, you could spend millions of dollars in transaction fees.

3. Low latency

This is the inherent cost of decentralization. If you want a geographically distributed, neutral system that can be participated in worldwide, it’s impossible for it to have a latency of 50 milliseconds. If it did have that low latency, then all activity would eventually be concentrated in one city.

4. Accessing information in the real world

This is the “oracle problem.” For example, deciding on a payment based on whether or not something has happened. Ethereum itself cannot solve this biggest trust problem: you still need someone to tell you whether that event actually occurred.

Blockchain can be combined with other “gadgets” to achieve these goals, but these areas are weaknesses for blockchain itself .

A Bigger Picture: Web3 and Cryptography

Ethereum is part of a larger story. This image comes from Gavin Wood’s 2015 vision of Web3: Ethereum is part of a suite of technologies that work together to create a freer, more open internet.

Blockchain is a crucial piece of this puzzle. However, in 2015, several sister protocols were under development (and are still under development today):

Kawanan : Used for distributed storage to handle data that is too large for everyone to download onto the chain. Whisper : An off-chain peer-to-peer messaging protocol that does not concern itself with consensus.

These protocols continue: Whisper became Waku , used in many privacy protocols and instant messaging; the Swarm team is still around, and IPFS is still widely used.

But I think a big thing that’s happened is that this “bigger story” has expanded a lot. To me, this bigger story is: there’s a class of technologies called “cryptography.”

Cryptography makes large-scale collaboration possible without centralized trust.

The most basic cryptography is encryption and signing.

Enkripsi : Allows you to talk to a friend 10,000 kilometers away, while no one in between (including infrastructure operators) can see the content. Signature : Allows you to verify whether the information you receive truly comes from the person you claim to be.

Recently, we’ve seen the rise of programmable cryptography , a more advanced form. You can not only encrypt and sign, you can also:

Perform the entire computation on encrypted data. Prove that you possess certain data without revealing the data itself (e.g., ZKPs – zero-knowledge proofs). Calculations can be performed by combining data from multiple individuals (e.g., FHE – Fully Homomorphic Encryption). (Further) Obfuscation: Obtaining a program that contains your data and using it only for specific purposes.

This is a complete set of tools that enables large-scale collaboration without a centralized actor. Blockchain is highly complementary to this in many ways.

The Future of Ethereum

Our top management’s goal is:

We want a secure, robust, streamlined, globally decentralized, censorship-resistant network that possesses all the characteristics that people have expected of blockchain since the birth of Bitcoin.

But within these constraints , we also want it to be fast and scalable so that applications that want to benefit from these features have the space and capability to do so.

2025-2026: Scalability Arc

The gas cap (a metric for how many transactions Ethereum can process) has increased by 50% this year. There is currently a motion to increase the gas cap to 60 million (about a quarter of the nodes are currently voting in favor, and I believe this number will continue to increase).

In 2026, we will have a series of EIPs that will enable the Ethereum network to safely handle larger scales while maintaining decentralization and the ability to run regular nodes.

EIP-7732 (Native Proposer-Builder Separation, PBS) : One of its effects is that it allows nodes to spend a larger portion of their slot time processing blocks without compromising network decentralization (or severely favoring centralized nodes). Block-level access list : This basically means that all nodes except the one that originally created the block can process the block in parallel .

With the “block-level access list,” this problem is largely solved for each node except for those creating blocks, which is truly remarkable.

These two things will enable us to achieve a more secure gas cap increase by the end of next year, making Ethereum more powerful than it was at the end of this year.

ZK-EVM: The Return of Full-Node Culture

Next up is something I’m really excited about: ZK-EVM , Dan the return of the full-node culture .

Who here ran an Ethereum full node 5 to 8 years ago?

Who here is running an Ethereum full node today?

Okay, the number of people is about right, but that’s still far from enough.

I remember the last time I synced a full node, it took four days . Four days is too long. It will also take up more than 1 TB of your hard drive space. And to keep it running, it needs to perform a lot of computation, drains the battery, and will kill your hard drive faster. It’s an expensive thing.

ZK-EVM , based on the zero-knowledge proof technology I mentioned, allows you to verify the correctness of a block without having to perform all the computations yourself .

This is no longer science fiction. It is about to become a reality in the Alpha stage.

According to data from ethproofs.org, there are now provers who can prove Ethereum blocks in real time using dozens of consumer-grade GPUs, and this number is rapidly shrinking every few months.

We can reduce the computational requirements of nodes to near zero .

Of course, bandwidth, storage, and I/O costs still exist, but they have been reduced. In theory, if you have a laptop, or even a phone with enough storage (like 512GB, which is now available on phones), you can start considering running a full node.

I believe that in the next one to two years, despite the expansion of Ethereum’s scale, the number of people actually able to run full nodes will increase significantly.

2026-2027: Censorship Resistance and Decentralization Upgrade
FOCIL : Allows a medium-sized set of nodes to propose “mini-blocks” in each slot. This provides stronger guarantees, ensuring your transactions can be packaged quickly. Account Abstraction : Ongoing work to ensure you can have a more powerful smart wallet, better forms of security (such as key replacement), and even support for privacy protocols, all without relying on intermediaries .

Longer-term: Lean Ethereum

Justin’s team has been working on “Lean Ethereum,” a long-term effort to make Ethereum more efficient and secure in the long run. This involves replacing many suboptimal components with those that are known to be closer to optimal.

Key points include:

Optimized, fast, ZK-friendly VMs (virtual machines) Quantum resistance is ubiquitous. ZK-friendly hash functions (currently Poseidon is leading, and we are investing heavily in academic research and bounties to ensure its robustness). Formal verification is everything. Optimized consensus (faster finality)

We are basically learning from all the lessons of the past five years and really introducing the technologies that have only become truly possible and available in the past five years.

User-level work: Trustless user experience

This includes privacy and security.

Privacy : It’s not just about on-chain ZK proofs. It also includes protecting your privacy from RPC nodes (from which you get your data), network layer privacy, voting privacy, DeFi privacy, and even private account abstractions. Keamanan : Light clients (such as Helios) are being improved. Software supply chain dependencies (reducing the amount of software we must rely on that could cause a complete system crash due to bugs). On-chain version control (eliminating the need for a front-end server-dependent environment and preventing server hacking from leading to theft). Multi-signature, social recovery wallets, and hardware wallets. Interoperability : There are also related events this week.

Ethereum can be a standard-bearer, leading to a freer, more open, and collaborative world underpinned by permissionless open technology and decentralized, trustless security.

This is a powerful technology, and it’s rapidly becoming more powerful. It’s also part of a suite of tools whose power is growing rapidly.

I believe the Ethereum community and Ethereum technology can truly help bring this freer, more open, and collaborative world into reality.

Let us work together to achieve this goal.

Thanks.

Q&A Session

Host: Okay, thank you very much, Vitalik. I think everyone knows what the first question will be, so I’ll just go straight to it. Where can we buy the glasses you’re wearing?

Vitalik: I think they already exist on Amazon. Unfortunately, we haven’t created a decentralized Amazon yet, so… this might be a good idea for a hackathon.

Host: Okay, let’s get straight to the point with a similar question. What are your thoughts on the relationship between Ethereum and Wall Street?

Vitalik: (…Listen to the question…) Wall Street. Well, I think they’re a user. In Ethereum, we’re “pro-users”.

Host: That’s great. You’ve talked a lot about what Ethereum can become and its current state. What do you think are some underrated aspects that people could focus on to extend Ethereum’s properties into the real world?

Vitalik: Well, I think there are several different dimensions.

One of these was the real-world adoption of Ethereum itself. The dream began with payments. I remember being incredibly excited in 2013 when there was a “Bitcoin Kiez” in Berlin. (Does anyone remember?)… In Berlin’s Kreuzberg district, someone convinced ten restaurants within a few hundred meters to simultaneously accept Bitcoin. It became a Bitcoin cultural community. There was a lot of momentum surrounding Bitcoin payments at the time, but it later died out for several reasons (I think rising transaction fees were a major one).

We now have the technology to make payments truly viable again . And (in Buenos Aires) there is a great deal of demand to bring crypto payments back to life; there are even many physical stores here that accept ETH and stablecoins on Ethereum.

I think even this kind of real-world application is good.

Another thing is that when you examine this underlying technology, in any domain—whether it’s communication, governance, or even lower-level stacks like operating systems or hardware—you can:

Think using the principles we’ve discussed today. Think about how to make things more open, how to minimize the need for trust, and how to protect users. At the same time, think about new technologies, including blockchain and cryptography, that allow us to move deeper into that direction than ever before.

Host: For both new and old members of Ethereum, what is the most important skill that needs to be better trained or improved?

Vitalik: It depends on who you are, but I think it’s always healthy for a community like ours to be well-rounded. It’s always beneficial to be involved in several different aspects of this space.

So I encourage everyone to try paying for coffee with ETH at least once this week; if you don’t have a wallet, install one; if you’ve never used a DApp before, use one; if you’ve never written a smart contract before, try writing one.

If you’d like, you could even try to learn how one of the underlying protocols works.

At the same time, we should also pay attention to how all these technologies interact with the wider world. Argentina has always been a good place for this, with a lot of adoption at all levels of the stack.

Host: Another question is, how did you come up with the name Ethereum?

Vitalik: I think I was browsing a list of elements from a science fiction novel, and I thought the word sounded good.

Host: Great. What about the logo?

Vitalik: That’s an interesting story. I’m not sure exactly what happened, but I think the reason “Ethereum” appeared on that list of sci-fi elements is because of a Japanese movie called “Castle in the Sky.”

In that movie, one of the key objects is the “Ethereum Crystal.” The Ethereum Crystal is what makes the castle float.

I had no idea where this came from at the time. But after I named it Ethereum, I thought our artist might know about the movie, so he made the logo in the shape of an ether crystal.

I remember it was about five years later when I first learned about and watched that movie, and I thought to myself, “Wow, this crystal really does look just like the logo.”

Host: That’s great. I think that’s all our questions. Is there anything else you’d like to say to the community? Like lunch recommendations?

Vitalik: Yeah, eat well, make sure to drink plenty of water, and spend more time outdoors enjoying fresh air. You know, air is one of the four elements, and it’s important to keep it clean.

Enjoy this week’s activities.

Host: Thank you very much, Vitalik!

Tautan asli

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