JAKARTA - Vitalik Buterin, co-founder of Ethereum, continues to seek innovation in the crypto world with new ideas and approaches. In an interview with David Hoffman at Permissionless in Austin, Texas, Buterin stated that although the current submission of Bitcoin and Ethereum ETFs has attracted public attention, it is still less imaginative.
According to Buterin, DeFi (Decentralized Finance) and NFT (Non-Fungible Token) is a step forward, but it is basically an extension of the existing system. The use of cryptocurrencies for payments, quite useful, also feels familiar.
What makes Vitalik Buterin excited is the development of decentralized social media, such as Farcaster, a Twitter-like protocol built on the Optimism (OP) mainnet with the Warpcast mobile app. Together with Lens, which runs on the Polygon network, Farcaster uses crypto to compete with centralized platforms.
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Buterin looks at the future that connects all of these aspects better and more decentralized. He discusses the importance of fighting false identities, so the number of "likes" or support comes from real individuals, not fake accounts.
Therefore, according to Buterin, crypto-based solutions have the potential to maintain better privacy and security than current Web2 platforms. He cited projects such as ENS (Ethereum Name Service), POAP (proof of Attendance Protocol), and Gitcoin Passport as examples.
Buterin's vision is to create an independent layer of open technology, able to compete with large platforms without relying on closed and centralized systems. He sees the possibility of stepwise for new Web3 users, starting with the use of already known services like Gmail but with an account abstraction that allows a transition to crypto use in the future.
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