Why does V God think that Ethereum should expand beyond DeFi?

Ethereum founder Vitalik Buterin gave a speech at the Ethereum community conference on how the network can surpass its most popular use case, DeFi.

God V emphasized that this project should initially be extended to areas beyond this use case.

Different projects constitute the DeFi ecosystem on Ethereum, which has aroused great interest from institutional investors, consumers and mainstream media. Many people believe that this is where the project’s greatest potential lies.

V God attributed this prosperity to the inefficiency of the traditional financial sector centralized entities. In this sense, V God believes that Ethereum “redefined by DeFi” is better than “undefined” .

Why does V God think that Ethereum should expand beyond DeFi?

However, V God, as the inventor of the network, believes that “it’s time to go one step further” and recommends following a roadmap guided by two goals, building what most developers want to develop, and building what most people need to use Stuff .

V God believes that this platform has enough tools to surpass the DeFi field, because developers are working to solve the high transaction fees and congestion problems on Ethereum. Some teams are working on active Rollup, Looprings, arbitration, and sharding to improve the scalability of Ethereum.

God V added: ” So, fundamentally, now is a good time to start thinking about’Can we go beyond finance?’ and start building all the other things we want to build. “

A scalable Ethereum can be used to build a new social media.

Later, V God explored some standard use cases that can meet the need for further development. NFT and increasing efforts to attract the art department to be interested in Ethereum may be a brand new possibility .

V God also discussed the ENS service and classified it as a “fascinating application.” This service serves as an identification code for its holders, allowing them to maintain control without the intervention of a third party (such as Google, Twitter or Facebook).

With ENS, users can participate in multiple use cases, from trading Ethereum to traditional messaging between users and so on.

V God believes that ENS is a new form of NFT. Therefore, this department can provide many opportunities for developers and users. God V added: ” I hope we will have more and more interesting NFTs in the future .”

Why does V God think that Ethereum should expand beyond DeFi?

One of the areas that V God focuses on is social media platforms. Due to restrictions, bans, fraudulent use of identity and other reasons, there have been troubles on Facebook, YouTube and even Twitter.

For a long time, the inventor of Ethereum has been calling for a decentralized solution that will enable Ethereum to surpass the DeFi field .

He believes that existing social media is terrible due to arbitrary and user-manipulating practices and “low-quality discourse.”

V God said: “I also need better social media. I think this is a very important use case.”

In addition, he also pointed out that users have a demand for social media based on “Crypto technology” , and many other potential ways can be explored by paying attention to the community.

At the time of writing this report, the price of Ethereum was $2,025, with a 2.5% increase.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/why-does-v-god-think-that-ethereum-should-expand-beyond-defi/
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