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Asian Developers Gain Momentum in Blockchain Tech, According to Ethereum's Vitalik Buterin

Sep 14, 2023 at 02:23 pm

Speaking at the Permissionless crypto conference in Austin, Texas, Vitalik Buterin, co-founder of Ethereum, highlighted a significant shift in the role of Asia within the global crypto landscape. He emphasized that Asia's influence in the crypto technology sector has grown substantially, marking a departure from the past when most of the development was concentrated in the West.

Buterin, who joined the conference remotely from Asia via projection screens, noted the evolution while discussing advancements in "smart account" crypto wallets. This progress stems from the implementation of "account abstraction," or ERC-4337, earlier this year. The upgrade aims to enhance user-friendliness in crypto wallets, including the implementation of features for account recovery in case users misplace their keys.

Reflecting on his recent travels through East Asia, Buterin mentioned engaging with multiple groups, between four to five, focused on developing various forms of account abstraction wallets. Such a scenario would have been less common in earlier stages of blockchain's 14-year history.

He underlined that when people in the crypto community mention "Asia's resurgence," they often refer to wealthy individuals investing in popular tokens like SHIB from the Shina Inu blockchain, which itself is inspired by Dogecoin. However, Buterin pointed out a deeper level of community involvement and technical contribution from Asia, which he finds distinctive and unlike anything he had observed before the Covid era or preceding market bubbles.

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