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.
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.