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Vitalik Buterin: Why Consortium Blockchains Have Almost Completely FailedEthereum co-founder Vitalik Buterin @VitalikButerin declared the original vision of consortium blockchains a failure in a July 20, 2024 Arbitrum video. He noted that these private chains inherit the drawbacks of both centralized and decentralized systems, resulting in cartel-like structures devoid of real openness or privacy.As a viable alternative, Buterin proposed retrofitting existing centralized servers with cryptographic scaffoldi ...