Ethereum (ETH) founder Vitalik Buterin believes that the crypto sector has become too one-sided. According to him, the focus is too much on financial applications, while blockchain technology can be used much more broadly. In an extensive post on X, he calls on developers to rethink the role of Ethereum.
Ethereum is now mainly about DeFi
In recent years, much of the activity on Ethereum has revolved around decentralized finance (DeFi), which allows unbanked users to borrow, trade and save. Ethereum is by far the most popular network for these types of applications.
According to DeFiLlama, there is more than $53 billion tied up in DeFi protocols on Ethereum. Solana (SOL) follows at a considerable distance with approximately $6.67 billion.
Buterin wants Ethereum to look further. According to him, the network should grow into a broader digital infrastructure, not only for finances but also for privacy, communication and collaboration on the internet.
Digital islands of stability in a chaotic time
Buterin describes his vision as building “sanctuary technologies”: free, open-source technologies that allow people to live, work and collaborate without being dependent on large companies or governments.
According to him, online platforms are becoming increasingly central and a handful of parties are gaining more and more control over people’s digital lives. Blockchain technology can help prevent this by creating stable digital spaces that are not controlled by one party.
Buterin emphasizes that it is not about rebuilding the world in the image of Ethereum. The aim is precisely to provide digital islands of stability in a time of growing uncertainty.
ETH price rises above 2,000 dollars again
Meanwhile, the ETH price is showing a slight recovery. Over the past week, the coin has risen by about 6% and is back above the psychological barrier of $2,000. Yet the price is still almost 60% below the all-time high of almost $4,950.
Source: https://newsbit.nl/vitalik-buterin-ziet-nieuw-doel-voor-ethereum-meer-dan-alleen-geld/
