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Vitalik Buterin Reveals Future of Ethereum and 'Free Internet?'

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Fri, 17/05/2024 - 14:41
Vitalik Buterin Reveals Future of Ethereum and 'Free Internet?'
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Vitalik Buterin, the cofounder of Ethereum, recently engaged in a discussion on X (formerly known as Twitter), shedding light on the future of Ethereum and the ambitious goal of building a free and open internet. This interaction, initiated by a tweet from Josh Stark, showcased a diagram illustrating different mindsets in the crypto community, ranging from definite optimism to indefinite pessimism.

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Josh Stark’s diagram categorizes mindsets into four quadrants: definite optimism, indefinite optimism, definite pessimism and indefinite pessimism. Stark labeled "Crypto Twitter" as oscillating between indefinite optimism and pessimism, which perfectly highlights the bouncing sentiment in the community that relies on most minor moves in the industry. In response, Buterin emphasized the importance of definite optimism, particularly within the context of "crypto farcaster" and "Lens."

Crypto farcaster and Lens are platforms that embody definite optimism by actively working toward a decentralized and open internet. 

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Ethereum/USD Chart by TradingView

Buterin’s message is clear: the ultimate goal of the crypto movement is to create a free and open internet. He cautioned against getting lost in theoretical discussions and emphasized the need for practical application of blockchain technologies. We have already seen the technology perform as a tool of decentralization in various digital fields. With Ethereum's role on the market declining, Buterin's call could be a signal for developers to amp up their attempts to build useful applications for users.

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However, Ethereum's recent performance has been somewhat challenging. Despite Bitcoin reaching new all-time highs, Ethereum has struggled to break through its previous ATH. The second-largest cryptocurrency by market cap has faced resistance and volatility, reflecting broader uncertainty on the market. This struggle highlights the importance of Buterin’s message: the need for continuous innovation and practical applications to drive the ecosystem forward.

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