Ethereum Needs To Innovate Beyond DeFi And DApps, Says Vitalik Buterin


Ethereum founder Vitalik Buterin stated at the recently held EthCC conference in Paris that the network being defined by decentralized finance (DeFi) and decentralized applications (DApps) are good and all, but it needs to innovate beyond just that to thrive even further. His remarks, in summary, have reportedly tackled everything from comprehensive blockchain login frameworks to shameful token-shilling in social media platforms.

According to Buterin, moving away from DeFi does not necessarily mean that the network aims to go against it. Instead, he believes that the most compelling Ethereum –based applications are those that aim to combine finance and non-finance elements into one component. He adds that he expects the few years onward to have many exciting things to offer – for example, solutions that provide diversity and real value to different types of people, not just inside the Ethereum network itself, but also around its outside horizons.

At the core of his proposed approach for the network moving forward was the utilization of Ethereum wallets as multipurpose identifications online that can log in on several Ethereum applications, much like today’s Facebook accounts. As per Buterin, current logins providers tend to indiscriminately de-platform their users, all the while refusing to help those who have unluckily been locked out of their respective accounts. His proposal of Ethereum-based login options aims to go against just that by providing censorship resistance, integrated economic layers, and credible neutrality.


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