Vitalik: We are now in the early stages of usable encryption

At the Token2049 held on September 18th, Ethereum founder Vitalik gave a keynote speech titled "What Excites Me About the Next Decade". In his speech, Vitalik stated that we are no longer in the early stages of crypto but rather in the early stages of usable crypto. He first summarized why past attempts at crypto consumer payments failed due to transaction fees and various user experience issues, but primarily because of cost issues. However, by 2024 Ethereum will be ready with significantly reduced transaction fees and confirmation times down to about 10 seconds on the main Ethereum network, even less than 1 second for fast confirmations. Other improvements include significant enhancements in user experience, account abstraction, mainstreaming ZK-SNARKs and improved usability of L2. Past technological limitations are no longer constraints.