Ethereum co-founder Vitalik Buterin recently stated his thoughts on X, saying he believes in only sustainable and truly decentralized crypto applications. In a series of posts, Vitalik tweeted, “The applications I want to see are those that (i) are useful in a sustainable way, and (ii) don't sacrifice principles (permissionlessness, decentralization, etc.).”
Buterin added that he doesn't think USDC is as good as RAI (a stablecoin), but it is much more convenient for making international donations. The cryptocurrency industry aims to make the global economy and society more open and free, and it's a real-world use case for people in emerging industries to transact freely using stablecoins.
Buterin noted that “USDC on Ethereum is far superior to the account-to-account transfers within centralized exchanges that are often made.”
He believed that growing adoption of USDC would also make it easier for people to migrate to other, more decentralized stablecoins.
Buterick said he was excited by the liquidity farming craze around 2021 because it was clear that it was born out of a fundamentally ephemeral and short-lived token issuance.
He added that the intersection of decentralized finance and other decentralized technologies will be crucial.
One more thing I would add is that we should all agree that finance alone is not enough. There are so many points of centralization in technology in the world today that are growing rapidly and threateningly.
* Ongoing political attacks on encrypted messages
* Centralized Identity…— vitalik.eth (@VitalikButerin) August 25, 2024
Finally, sharing the criticism over PolyMarket being classified as gambling, Vitalik said people misunderstand what prediction markets mean and why people (including economists and policy thinkers) are so excited about them.
He explained: “Prediction markets are interesting as a social awareness tool, allowing the public to get a view on the importance of certain events and how they are likely to play out, in a way that is less susceptible to biased editorial opinion than social media or news sites. Conditional prediction markets are also being applied to governance, where we are already starting to see benefits.”
Read also: Vitalik Buterin warns of the limitations of anonymous DAOs and calls for a new identity model