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“Argentina is the perfect combination to innovate”: Ethereum developer

Key facts:
  • Argentina combines need and talent, says Juan David Reyes.

  • The developer says he is very excited about the future of Ethereum.

“Argentina is the perfect combination to innovate and build global companies,” says Juan David Reyes, developer of the Ethereum Foundation

The Colombian specialist held an exclusive dialogue with CriptoNeticias during his visit to Buenos Aires, Argentina, within the framework of ETHLatam 2022.

Reyes is convinced that Argentina is “a country that has the need to use cryptocurrencies and, in addition, has the builders to solve those needs”.

He highlights the public university system of the South American nation as one of the reasons why these builders exist. “I am Colombian and there, for now, we do not have hyperinflation, but we also do not have such a good education so that, in case it occurs, we can build things,” he says.

The Argentines have lived a playpen and many lost their money. A solution arrived: Bitcoin brings that vision with its currency, but then Ethereum arrives, which also has utility for artists with NFTs and decentralized finance. So, when people see that they can own their money and, in addition, use financial applications from an ecosystem that replaces traditional finance, real adoption takes place.

Juan David Reyes, developer of the Ethereum Foundation.

For Juan David Reyes, the combination of need and talent favors innovation and new ventures. Source: Criptonews.

“Why Ethereum?”, we asked Reyes to know the reason for his preference for this technology. His response was that the network co-created by Vitalik Buterin allowed decentralized developments to be reached “to the people or to the ordinary citizen”.

Reyes is extremely excited about what is coming in Ethereum. The fact is that, by mid-September, according to the estimate of the main developers, the long-awaited Merge (merger) would take place. Since then, proof-of-work mining will be abandoned to move to the proof-of-stake protocol.

“One of the things I highlight is that, by moving to the proof-of-stake consensus algorithm, Ethereum will have a much lower energy consumption,” explains the Colombian computer scientist. He adds that, for him, “it is a relevant issue in the climate crisis we are experiencing”.

In addition, he assures, the staking incentive system it would make Ethereum’s security superior to that of other blockchains that use proof of stake.

Reyes is also optimistic about the series of improvements that will come to Ethereum after the Merge. It refers to the surge (“The Surge”), the Edge (“The Verge”), the purge (“The Purge”) and the Splurge (“The Splurge”). These stages were described in a recent Crypto News article.

By way of conclusion, the developer invites those who so wish, to participate in the Devcon conference, which will be held in your country between October 11 and 14. Also, in October, other meetings will be held in Colombia that will have Ethereum as a center.

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