Vitalik Buterin Talks About Ethereum Development and the Current State of the Crypto Market

Ethereum founder Vitalik Buterin recently gave an interview, sharing his views on the current crypto market, the development of Ethereum, and blockchain applications.

Views on Bear Market

Vitalik stated that the current market downturn has brought calm back to the crypto field, which is a good thing. He believes that the bull market bubble attracted too much attention, leading to excessive commitments and high expectations, while also drawing the attention of bad actors and regulatory agencies. Now is a good time for the crypto field to return to its roots and prepare for future development.

Ethereum Technology Development

Vitalik pointed out that although blockchain scalability still has shortcomings, significant progress has been made, such as the development of technologies like Rollups, sharding, and ZK-Rollups. Some key technologies he mentioned are being gradually implemented, such as the deployment of Optimism and Arbitrum, as well as the advancement of the account abstraction proposal ERC-4337.

Regarding the development speed of Ethereum, Vitalik believes there are two pressures: one is the continuous emergence of talented individuals in the community pushing for accelerated development, and the other is the need to be cautious to avoid mistakes. This balance allows Ethereum to make significant updates while steadily progressing forward.

Expectations for The Merge

Vitalik stated that as The Merge (Ethereum Merge) approaches, developer morale is high. He believes that The Merge has not yet been fully priced in, both in the market and on a psychological and narrative level, and its actual occurrence may further boost morale.

Vigilance Towards Blockchain Applications

When it comes to blockchain applications, Vitalik pointed out that the collapse of Terra has made people reevaluate the importance of principles. He stated that high APY projects are often difficult to sustain and should return to reality. Vitalik also expressed a lukewarm attitude towards Bitcoin and Ether ETFs, believing that the crypto market still needs more time to develop.

Expectations for the Community

Vitalik calls on the community to focus on creating meaningful projects rather than just concentrating on issuing tokens and marketing. He cites ERC-4337 as an example, praising its potential to bring revolutionary changes without issuing tokens. For entrepreneurs, Vitalik suggests that they should focus on interesting visions and solving real problems, rather than simply pursuing financing.

Overall, Vitalik's perspective reflects a consideration of the long-term development of the crypto field, emphasizing the importance of technological innovation, value creation, and a cautious attitude.