Buterin Talks About Ethereum Projects That Excite Him

Vitalik Buterin, one of the co-founders of Ethereum, talked about the uses and the latest trends in the Ethereum ecosystem that excite him in his latest blog post. In his article, Buterin emphasized that the concept of decentralization became more important after the collapse of FTX and claimed that stable crypto assets issued by organizations with a strong decentralized structure will be adopted by the society.

Addressing the issue of payments, Buterin said that real-world assets and fixed crypto assets managed by DAOs supported by zero-knowledge decentralized identities will have an important place in the future of Ethereum. Besides, the Ethereum founder thinks that imposing central stable cryptos on surveillance will not create a solution in the long run.

Vitalik Buterin sees return systems concentrated in decentralized finance as unsustainable as they have an overvalued capital structure. That’s why he thinks DeFi’s most important product will be decentralized stable cryptoassets. Sharing his excitement about prediction markets, Buterin welcomes the stable development of the markets based in the Ethereum ecosystem without seeing any sudden growth.

Referring to the issue of digital identity in his article, the Ethereum founder said that the development of this area is extremely important in terms of user privacy, and drew attention to the application of Login with Ethereum (SIWE) as an effective identity method. SIWE allows users to log in to websites without having to allow access to their private information or take over their account by the site. One of the most well-known projects that allows users to use only ETH addresses when logging into sites is the Ethereum Name Service (ENS). These usernames end in .eth and users must pay an annual fee to continue using that name.

Buterin thinks the Ethereum Name Service could be used in conjunction with verification technology to combat fake accounts on decentralized chat platforms like Blockscan. The chat platform is able to associate the user’s on-chain activity with the ENS name to prove that they are a true participant in the Ethereum ecosystem. It is thought that this system can replace the customer recognition procedure of platforms in the future.

Buterin also has a positive view that attestation technology can help organizations determine their own risk profile without centralized authorities. Vitalik Buterin said that he is also hopeful for the field of hybrid applications. These applications are not only Blockchain-based applications that use other systems as well. Areas such as voting, government records, identity information tracking, company accounting systems, and the gaming industry can be mentioned as usage areas.

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