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27 July 2021

Ethereum must innovate beyond just DApps for DeFi degens: Vitalik Buterin

Ethereum must innovate beyond just DApps for DeFi degens: Vitalik Buterin


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Describing non-financial utilities as “the most interesting part of the vision of general-purpose blockchains,” Buterin lamented that financial applications currently “dominate the Ethereum space.”.

“Maybe a few years from now we’ll have a lot of really exciting things [...] that are just providing all kind of very diverse and real value to all kinds of people, not just within the Ethereum ecosystem, but also going far beyond it as well,” he added.

With work to mitigate transaction costs on Ethereum currently underway, Buterin asserts that now is the time to begin exploring how Ethereum can be used to tackle other issues, stating: “the Ethereum ecosystem has to expand beyond just making tokens that help with trading other tokens.”

“If you just take this narrow thing that is DeFi, and you keep pushing it to infinity [...] you’re just gonna get tokens that give you profit from yield farming other currencies that are financial derivatives between other yield farming tokens,” he said

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