For Ethereum co-founder Vitalik Buterin, the world’s largest multi-purpose network has a lot to do in the future. In this way, he is betting that the network continues on its path to find new approaches and work on new ideas. During an interview with David Hoffman in Permissionless he expressed that there is no reason to settle for what has been achieved so far. In his opinion, even the most innovative advances built today are not imaginative enough. Financial options built on Ethereum are common on other blockchains. Even some of these networks, although less popular, have better and more advanced functions. As such, that should lead developers to start envisioning different things for the years to come.
What will be the future of Ethereum?
Both Ethereum, and the blockchain sector in general, have enormous potential to meet the technological needs of the future. Consequently, much of what has been advanced so far will be obsolete in a few years. Hence the need to stimulate the imagination, according to Buterin. In his words, he expressed that decentralized finance (DeFi) is great and the same can be said for NFTs. However, he said that both “are an extension of something that has history.” Consequently, using cryptocurrencies to make payments is good, but it is also familiar. “These are individual pieces designed to fit into a system that is the same as before,” he stressed. He says that the spectrum must be expanded to go further and present a future based on the sector’s own creations. “Let’s see how far we can push things in that direction,” he said. Next, he noted: “What I see in the future is that in the long term it can really connect with all the other things that we have been doing as a space.” In this way, he believes that Ethereum and the future have a very close link, considering that the EVM has the potential for any development. He stressed that there are numerous tools to strengthen the decentralized Web3 experience.
Create open and independent technology
From Buterin’s words it is taken for granted that Ethereum can be taken as a basis from which to move forward. On top of that foundation, there is the potential to consistently create open, independent technology, he said. Once this stage is reached, the technology sector will be able to compete with centralized companies such as Google and X (formerly Twitter). In this phase, a balance must be maintained to avoid the other extreme such as WeChat-style applications or CBDCs. The expert believes that he hopes to see a gradual process in which Web3 users generate an Ethereum address in the future. From there, they will be able to take control. “Basically, it’s about giving people the opportunity to slide down the decentralization ramp,” he said.
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