Vitalik Buterin reveals exciting use cases for Ethereum ecosystem

Ethereum co-founder Vitalik Buterin blog post Describes the use cases that excite him about the Ethereum ecosystem. This post looks at money, DeFi, digital identity, DAOs, and hybrid apps to showcase the wide range of utilities within Turing’s complete blockchain network. increase.

What excites me about the Ethereum application ecosystemhttps://t.co/QxCa6EoWDl

vitalik.eth (@VitalikButerin) December 5, 2022

about money

Some of his favorite apps in the Ethereum ecosystem are based on money use cases. According to Vitalik, these apps help facilitate donations and, in most cases, provide security against deplatforms.

The Ethereum co-founder also talks about stablecoins, believing they have many use cases because they are open to everyone, resist censorship, and interact well with on-chain infrastructure like DEXs. increase. In contrast, he argues that stablecoins like USDC work and that their stability depends on the macroeconomic and political stability of the United States.

Buterin also believes that the RAI of non-pegged stablecoins can withstand all these risks and have negative interest rates. Additionally, Vitalik could become a viable stablecoin backed by DAO-managed risk-weighted assets (RWAs) if it combines scalability, robustness, and economic viability while resisting censorship. claimed to be.

About DeFi and Digital Identity

The co-founder hinted that the world of DeFi and digital identity has enjoyed overwhelming adoption over time. In addition to stablecoins, he highlighted prediction markets, major stock indices, and layers for efficient trading of other assets and real estate.

Evaluating the growth of digital identities, the co-founder said the trend helps promote user privacy. He cited Sign In With Ethereum (SIWE) as an effective identity method. rice field.

About DAOs

Vitalik Buterin believes there are two questions to answer.

1. What kinds of governance structures make sense and are suitable for what use cases?
2. Does it make sense to implement these structures as DAOs or through regular incorporation and legal agreements?

Ethereum co-founders believe decentralization is essential for robustness, efficiency and interoperability.

About hybrid apps

Hybrid applications that integrate blockchain with other systems to enhance trust models can be found in voting, gaming, government registration, corporate accounting, and supply chain management.

Buterin also talked about some challenges with Ethereum, such as scalability, long transaction times, and insecure wallets. He described a decentralized solution for holding funds, an abstraction wallet for ERC-4337 and accounts, and rollup his technology for better scalability.

In his closing remarks, Buterin emphasized that developers need to favor projects with long-term value propositions over those with short-term benefits.

These revelations come just weeks after he released an updated roadmap for the Ethereum ecosystem.

Updated roadmap diagram! pic.twitter.com/MT9BKgYcJH

vitalik.eth (@VitalikButerin) November 4, 2022

In particular, the network roadmap additions are aimed at making the Ethereum network more censorship-resistant and decentralized. For example, a new category, Scourge, was added to the updated roadmap, joining the existing Merge, Surge, Verge, Purge, Spurge, etc.