April 1, 2023

Vitalik Buterin spoke about the three goals of the cryptocurrency industry

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2 minutes.

Vitalik Buterin spoke about the three goals of the cryptocurrency industry

Ethereum co-founder Vitalik Buterin spoke aboutthings to be done in the world of cryptocurrencies: the mass adoption of crypto wallets, inflation-resistant stablecoins, and access to the Internet through Ethereum.

During the Bankless podcast with David Hoffman(David Hoffman), Vitalik Buterin shared his opinion on what the cryptocurrency industry should strive for in 2023. The program leader is concerned that decentralized applications are not being implemented as actively as they used to be, and there are fewer opportunities for developers to create new decentralized products.

To this, Buterin replied that, first of all,developers should make additional changes to the wallet infrastructure to make it easier for even technically illiterate people to use cryptocurrencies. In addition, a cryptocurrency wallet must be designed in such a way that a billion people can connect to it.

Another breakthrough in the industry will be the creationa stablecoin that will be resistant to hyperinflation and available internationally. According to Buterin, such a stablecoin will be able to withstand any difficulties within the network and withstand adverse macroeconomic conditions. At the same time, Buterin did not tell how this can be achieved.

The co-founder of Ethereum also noted that anytechnical developments that facilitate the use of Ethereum-based applications will allow this network to dominate the Internet application market. However, Buterin acknowledged that this is becoming increasingly difficult due to increased competition and market maturation.

"If you can log in withEthereum, if people distance themselves from centralized Internet monopolies such as Facebook, Google, Twitter, this will be an achievement in itself,” said Vitalik Buterin.

Previously, Buterin recommended to tradersfocus not on the fall of the market, but on technical developments. In particular, he mentioned the zk-STARK zero-knowledge proof protocol, which can solve problems with scalability and anonymity.