Vitalik Buterin calls for Ethereum to surpass DeFi and move forward

This article comes fromDecrypt, original author: Ben Munster

Odaily Translator | Nian Yin Si Tang

Odaily Translator | Nian Yin Si Tang

Ethereum founder Vitalik Buterin (V God) delivered an "amazing" keynote speech at the Ethereum Community Conference (EthCC) conference in Paris. He said that Ethereum needs to surpass DeFi, a wildly speculative financial movement. His talk covered everything from blockchain-based login mechanisms to the rise of "embarrassing" social media tokens.

Buterin said: "The Ethereum ecosystem needs to scale, not just make tokens that facilitate the exchange of other tokens. Scaling is already happening to some extent, but we can do more." For example, Ethereum Can help reshape the social media segment. Decentralized governance (DeGov) is another use for Ethereum network scaling.

“It’s better to be defined as DeFi than not at all,” he wrote in one slide, “but it needs to go further.”

The 27-year-old Buterin sat cross-legged and meditated for a while on the stage, then stood up to speak. Ethereum must be good for society, but also good for the economy, he said. The statement was met with enthusiasm from an audience full of DeFi entrepreneurs, investors, and developers.

For example, he complained that most of Ethereum's features are currently limited to a few, and singled out expensive gas fees as abhorrent. “Degens can afford it, apes can afford it, orangutans can afford it,” said Buterin, using DeFi jargon here to refer to wealthy traders and DeFi obsessives. But he went on to say that a complete ethereum ecosystem cannot function if gas fees are prohibitive for ordinary users.

While pondering the dream of an Ethereum that works for everyone, Vitalik laid out several technological alternatives that he believes deserve more attention. One such idea is "retroactive funding," where developers effectively build public infrastructure for free and then get paid when it generates dividends. Such a process would allow the ethereum project to thrive as a "public good," he explained.

Meanwhile, at the heart of Buterin's keynote was his hope for Ethereum: that it would underpin a new, universal social media ecosystem that would encourage higher-quality publishing and form user The foundation of online identity. It would be a direct replacement for centralized social media networks, which Buterin criticized for rampant data harvesting and for providing “irrational incentives” that reward cynical publishers based on high engagement, And encourage them to do so through this initiative.

Central to his proposed approach is the use of an ethereum wallet as a multipurpose online identity that can be used to log into various ethereum-based applications, similar to how Gmail and Facebook accounts are used. Buterin said existing login providers like Google have a tendency to arbitrarily remove users from their platforms, while often refusing to help users who are locked out of their accounts.

On the other hand, an ethereum-based login option would offer “credible neutrality,” anti-censorship and “a built-in economic layer that makes mechanism design easier.” He envisions the social network allowing only established members of the ethereum DAO to post.

Buterin also read some of the comments under various well-meaning academic tweets of his own over the past year: “When is the bridge between Doge and NFT coming out?” Another: “Dude, check out Harmony (ONE). "

"Why did they tell me this?" He expressed his helplessness, which made everyone laugh and applaud.

He also poked fun at celebrity endorsement NFTs and Ethereum. He admits to being disappointed with the status quo of the digital collectibles or NFT field, and hopes that NFT can benefit wider society, not just celebrities. Kim Kardashian "is pushing Ethereum Max so hard, so we should hate her," he joked, to yet another round of applause.Note: Internet celebrity Kim Kardashian previouslyPosted an ad on Instagram about a project called Ethereum Max

, which sparked dissatisfaction in the crypto community, after former Boston Celtics forward Boston Celtics and professional boxer Floyd Mayweather also helped market the project. It is reported that Ethereum Max (also known as emax or ETH Max) is an ERC20 project built on the Ethereum blockchain, but people are skeptical about this project.