Vitalik Buterin Shares His Five Things About Ethereum to Be Excited About

VItalik Buterin in aqua suit underwater next to transparant ranbow jellyfish

Ethereum’s co-founder, Vitalik Buterin, has shared his five most exciting applications within the Ethereum ecosystem, stressing the importance of decentralization to the industry following the collapse of some centralized exchanges.

Buterin Shares What He’s Excited About

In a lengthy blog post shared on December 5th, Buterin outlined the most exciting applications within the Ethereum ecosystem. According to Buterin, money is “the first and most important” use case for the popular blockchain.

The Ethereum co-founder notes that stablecoins are key to being able to use crypto as a form of money. According to Buterin, the collapse of FTX and other centralized has sensitized crypto users to the merits of decentralization.

The Importance of Decentralization

Buterin is also enthusiastic about the growth of decentralized finance (DeFi). He notes that DeFi is in its “early stages of setting down … improving security, and refocusing on a few applications that are particularly valuable.”

Third on his list is the identity ecosystem, including Ethereum Name Service (ENS). Buterin praised the growth of these projects for helping users interact on the internet without “giving Google or Facebook access to your private information.”

While Buterin is optimistic about decentralized autonomous organizations (DAOs) capturing the hopes and dreams of many, he argues that greater work needs to be done in this area.

The last thing Buterin is excited about is hybrid applications or applications that are not entirely on-chain but use blockchain for certain aspects.

On the Flipside

  • Buterin notes that DeFi started great but has become “an overcapitalized monster that relied on unsustainable forms of yield farming.”

Why You Should Care

In the blog post, Buterin shares the journey and successes of Ethereum. He also explains how projects can improve for the next phase of Ethereum and the crypto industry as a whole.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia