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The Bitcoin network is constantly being improved by the different developers that participate in this decentralized project. One of the pioneers of this technology, Nick Szabo, made a series of statements through his Twitter account where he explains the 3 key areas in which these efforts should focus.

The first of Szabo's recommendations focuses on safety. Specifically, the developer suggests further advances in the storage and secure handling of private keys in cryptocurrency portfolios.

When a user on Twitter asked him directly about what measures should be taken in this regard, Szabo responded that we must ensure that the management of private keys includes different aspects of the person's life, such as their use in cases of inheritance or cross-border trips.

This issue, moreover, is not a minor concern. If an attacker manages to get hold of private keys, he could dispose of all the funds in that portfolio. In fact, recently a study was published showing a vulnerability that could allow an attacker to extract private keys from cold wallets that are not connected to the internet.

The second issue addressed by Szabo is the need to develop decentralized exchange platforms. Currently most exchanges of cryptocurrencies are made through centralized exchange houses, such as Bitfinex or Binance.


 
However, these platforms store the users' assets, which makes them even more prone to attacks, as happened earlier this year with the Japanese platform Coincheck. If the cryptocurrencies are in the exchange house, the user has less control over them.

In addition, this type of platform replaces traditional intermediaries, which blockchain technology seeks to make unnecessary. In this sense, some exchange houses have made decisions that affect users without their consent, as happened recently with Coinbase, which decided to modify its services and suspend the Wikileaks Shop account.

Finally, Szabo talks about second layer solutions, such as the Lightning Network. In his opinion, this type of solutions should become simpler, because improvements in the user experience (user experience or UX) are more important in the second layer than in the first.

These comments have a lot of weight in the ecosystem, because Nick Szabo is one of the pioneers in the use of the Bitcoin network, in addition to one of the people suspected of being Satoshi Nakamoto, the mysterious creator of Distributed Accounting Technology (DLT). Whether this is true or not, Szabo has dedicated his life to the development of this technology and is a respected personality among bitcoiners.