Vitalik Buterin talked about exciting applications in the Ethereum ecosystem.
The Canadian programmer, who published a long blog post, also talked about the effects of recent developments in the crypto industry.
Vitalik Buterin Talks About Volatility
Buterin claimed that after the Merge upgrade, the chain became much more stable, and that scaling solutions such as ZK rollups were developed faster.
Noting that trust in centralized exchanges also decreased after the collapse of FTX, Buterin noted that these developments will encourage more people to transact on-chain.
He also acknowledged that volatility is one of the biggest barriers to crypto adoption by various funds and businesses.
The volatility in the price of cryptocurrencies paved the way for stablecoins to rise. Buterin said that a well-functioning stablecoin, whether a centralized cryptocurrency or a stablecoin, will be a boon for many applications.
The Ethereum programmer seems fed up with the plight of DeFi, which he stresses has turned into an “overcapitalized beast” based largely on “unsustainable” yield framing schemes.
Buterin also said he’s excited about DAOs.
