My first encounter of Vlad Zamfir on Ethereum meetup

Yesterday was one of the most amazing days of my life. I was just about to finish reading “Jab, jab, jab, right hook” by Gary Vaynerchuk and then I received an invitation for a meetup related to Ethereum and other Blockchain technologies.

What can I tell, that was something amazing.

There were 3 speakers: Vlad Zamfir, Justin W Newton and Ariel Gabizon. Each of them did an excellent job explaining about certain aspects of Ethereum, Bitcoin and ZCash. Thanks guys, I do appreciate that.

In fact, what I can tell you for sure is that those guys are really committed. Vlad, for instance, had to spend 24 hours to get to Kiev and Justin payed almost $3000 to get here. This is unbelievable.

I was astounded of the level of depth they go through.

Vlad was talking about future plans for Casper which basically will allow Ethereum to switch from proof of work to proof of stake algorithm. I don’t want to get too much details here because this is really complex stuff.

What I did found was that this process takes a lot more time than expected and Vlad hopes that he will finish it up till the end of 2017. What is great and makes me feel excited is that he knows all of the pieces and stages he has to deal with so the roadmap is pretty clear.

Also I learned that he get paid in Bitcoins so it was kind of fun to observe when one of my friends exchanged his cash into crypocurrency. It was something like real-time localbitcoins :)

Another cool idea that I heard on this meetup by talking to various people, including Vlad, Ariel and Justin is the main issue of Bitcoin is not that it cannot be spent anywhere.

The real issue is that Bitcoiners don’t really want to spend their Bitcoin. They just want to keep them anticipating the price increase in the future.

But in any case I believe that if scalability and usability issue will be solved, Bitcoin will have a big chunk of the world using it.

Hopefully, SegWit and Lightning Network are working on solving the first problem. Usability turns out harder thing to accomplish but we’ll handle it.

On top of that I finally understood why ZCash is the best currency for anonymous transactions. Thanks Ariel Gabizon for that. Basically all that is available about transaction is that it was delivered. No way it can be traced, hacked or discovered receiver/sender which is what zero-proof of knowledge allow us to do.

Justin had also a phenomenal speech about using DNS names for Bitcoin wallets which sound fascinating. Who knows, maybe it will be practical in the long term for big companies.

In any case, it was a very amazing experience. I do believe that we will see a huge improvements and adoption of crypto currencies this year alone.

I also want to give a special thanks to IDF Reforms Lab for making this event so awesome.

And I hope that Vlad’s hand will heal a lot faster than he thinks.