‘Ethereum can do much better than Google,’ Vitalik Buterin says – Here’s why
The post ‘Ethereum can do much better than Google,’ Vitalik Buterin says – Here’s why appeared on BitcoinEthereumNews.com. Key Takeaway What long-term vision did Buterin share? He emphasized using low-risk DeFi protocols to provide Ethereum with a stable economic foundation. What tension exists in the Ethereum ecosystem? Balancing revenue-generating applications with projects that preserve Ethereum’s original mission and values. Ethereum [ETH] is back in the spotlight, or we can say it has never left the spotlight. But, this time, not just for its price action but also for co-founder Vitalik Buterin shifting his attention from price milestones to Ethereum’s long-term vision as per his recent blog post. Vitalik Buterin’s long-term Ethereum vision He argued that revenue generated from low-risk decentralized finance (DeFi) protocols could serve as a financial backbone for the network. Buterin compared this to how Google Search sustains Google, while ensuring that non-financial applications continue to preserve Ethereum’s cultural and community-driven values. Needless to say, for years, the Ethereum ecosystem has wrestled with a fundamental tension. This included balancing applications that generate enough revenue to sustain the network against those that embody its original mission and values. On one side, financial activity, often dominated by NFTs, memecoins, and DeFi loops fueled by incentives, generated significant capital but relied heavily on short-lived, sometimes circular dynamics. On the other hand, non-financial and semi-financial projects like Lens, Farcaster, ENS, Polymarket, Seer, and privacy protocols showcased Ethereum’s cultural and technological depth. Yet, they struggled with low adoption and insufficient fee generation to support the scale of a multi-hundred-billion-dollar economy. Remarking on which, Buterin added, “This disjointness created a lot of dissonance in the community, and a large amount of community momentum was backed by the theoretical hope that some application could emerge that fills both boxes at the same time.” Did Ethereum find its “Google Search” moment? Seeing this, Buterin suggests that Ethereum may have finally found its “Google Search” moment…
The post ‘Ethereum can do much better than Google,’ Vitalik Buterin says – Here’s why appeared on BitcoinEthereumNews.com.
Key Takeaway What long-term vision did Buterin share? He emphasized using low-risk DeFi protocols to provide Ethereum with a stable economic foundation. What tension exists in the Ethereum ecosystem? Balancing revenue-generating applications with projects that preserve Ethereum’s original mission and values. Ethereum [ETH] is back in the spotlight, or we can say it has never left the spotlight. But, this time, not just for its price action but also for co-founder Vitalik Buterin shifting his attention from price milestones to Ethereum’s long-term vision as per his recent blog post. Vitalik Buterin’s long-term Ethereum vision He argued that revenue generated from low-risk decentralized finance (DeFi) protocols could serve as a financial backbone for the network. Buterin compared this to how Google Search sustains Google, while ensuring that non-financial applications continue to preserve Ethereum’s cultural and community-driven values. Needless to say, for years, the Ethereum ecosystem has wrestled with a fundamental tension. This included balancing applications that generate enough revenue to sustain the network against those that embody its original mission and values. On one side, financial activity, often dominated by NFTs, memecoins, and DeFi loops fueled by incentives, generated significant capital but relied heavily on short-lived, sometimes circular dynamics. On the other hand, non-financial and semi-financial projects like Lens, Farcaster, ENS, Polymarket, Seer, and privacy protocols showcased Ethereum’s cultural and technological depth. Yet, they struggled with low adoption and insufficient fee generation to support the scale of a multi-hundred-billion-dollar economy. Remarking on which, Buterin added, “This disjointness created a lot of dissonance in the community, and a large amount of community momentum was backed by the theoretical hope that some application could emerge that fills both boxes at the same time.” Did Ethereum find its “Google Search” moment? Seeing this, Buterin suggests that Ethereum may have finally found its “Google Search” moment…
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