Vitalik Buterin Spoke About the Big Opportunities in Crypto
Recently, the Russian-Canadian computer scientist Vitalik Buterin, who is well known as the father of Ethereum, named what he thinks are three of the biggest opportunities in crypto right now.
Last week, during an interview on episode #149 of the Bankless podcast, Buterin said:
“If you can create a wallet that a billion people will use – that’s a huge opportunity… If you can create a stablecoin that can survive up to and including US dollar hyperinflation… that’s also a great opportunity if you can create something that will think. as a lifeline for everyone going through this situation… If you can connect to Ethereum and work if you have able to overthrow Facebook, Google and Twitter as the master link of ‘The Internet itself is a great opportunity, right?
On December 5, 2022, Buterin shared his thoughts on Ethereum’s diverse ecosystem in a blog post titled “What I enjoy about the Ethereum application ecosystem”. Buterin wrote:
“… my enthusiasm for Ethereum is no longer based on the potential of the unknown, but on a few specific applications that have already been proven and are going from strength to strength … “
He then talked about his five favorite types of fast food.
“As a side effect of the connection, the transaction involves a quick transaction and the chain has become more stable, making it more convenient to accept the transaction after a few confirmations. The scaling technology seems to be optimistic and ZK’s volumes are progressing rapidly. Public recovery and multisig wallets are compatible with account abstraction. These processes will take years to develop as technology develops, but progress has already begun…
“I have seen the possibility of stablecoin design divided into three different ways: centralized coins, DAO-controlled real-world assets supporting stablecoins, and micro-government crypto stablecoins… the user, three types are organized body and various business models. offset between efficiency and stability.”
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“Finance is, in my opinion, one that started out as noble and expensive, turned into something of a behemoth with a lot of money that depends on an unsustainable form of agriculture, and now this is the early stage of implementation in a complex environment, improving security. and focusing on a few particularly useful applications.”
“Login on Ethereum (SIWE) standard allows users to log into a website (traditionally) the same way you would log into a website with a Google or Facebook account today. It’s really useful: it allows you to interact with sites without giving Google or Facebook access to your personal information or the ability to manage or lock you out of your account.
“ENS allows users to access the identity: I have vitalik.eth. Proof of identity and other proof systems allow users to prove that they are a unique person, which is useful in many applications, including airdrops in government.
“In general, a DAO is a smart contract that is meant to express the process of ownership or control of a resource or system. But the system can be anything from a simple multisig to a sophisticated multi-sig system like the one proposed for the Optimism Collection…
“One trick is that the word ‘decentralized’ is sometimes used for both: a system of government that makes decisions based on decisions made by a large group of participants, and the implementation of a system of control and -pretend that it is. Built on a decentralized system like blockchain and does not depend on any legal system.
A hybrid device
“There are many applications that are not fully chained, but leverage both blockchain and other systems to increase their trust model … voting is a great example. The high level of resistance to audits, audits , privacy is all that is required, and systems like MACI integrate blockchains effectively, ZK-SNARKs, and a middle layer (or M-of-N) for me scalability and resistance to coercion to achieve. The promises all this.