3 goals of the cryptocurrency industry, according to Vitalik Buterin

Ethereum co-founder Vitalik Buterin spoke about the things to be implemented in the world of cryptocurrencies: the mass introduction of crypto wallets, the inflation-resistant stablecoins and the access to the Internet via Ethereum.

During the Bankless podcast with David Hoffman, Vitalik Buterin shared his opinion on what the cryptocurrency industry should strive for in 2023. The host of the program is concerned that decentralized applications are not being implemented as actively as before, and developers have fewer opportunities to create new decentralized products.

To this, Buterin replied that, first of all, developers should make additional changes to the wallet infrastructure in order to simplify the use of cryptocurrencies even by technically illiterate people. In addition, a cryptocurrency wallet should be designed in such a way that a billion people can connect to it.

Another breakthrough in the industry will be the creation of a stablecoin that will be resistant to hyperinflation and available internationally. According to Buterin, such a stablecoin will be able to withstand any difficulties within the network and withstand unfavorable macroeconomic conditions. At the same time, Buterin did not say how this could be achieved.

The Ethereum co-founder also noted that any technical developments that promote the use of Ethereum-based applications will allow this network to dominate the Internet application market. However, Buterin admitted that it is becoming increasingly difficult due to the growing competition and increasing market.

“If you can log in using Ethereum, if people distance themselves from centralized Internet monopolies such as Facebook, Google, Twitter, this in itself will be an achievement,” Vitalik Buterin said.

Earlier, Buterin recommended that traders focus not on the market fall, but on technical developments. In particular, he mentioned the zero-knowledge proof protocol zk-STARK, which can solve problems with scalability and anonymity.