Ethereum founder Vitalik Buterin responded to Bloomberg TV host Joe Weisenthal’s view that “cryptocurrency idealism is dying” by stating that idealists still exist and many related projects have made significant progress.
(Background:
Meme coins hindering innovation in the cryptocurrency market? V God suggests exploring: ZK technology, P2P, decentralized social networks, prediction markets
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(Background supplement:
V God’s “Definition of the Bright Future of Cryptocurrencies”: Successful Ethereum adoption, social takeoff, scalability, privacy, and security
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Table of Contents
V God: Many idealistic projects have made significant progress
What are the projects mentioned by V God and Toly?
Farcaster
Lens Protocol
Zupass
Hivemapper
Helium Mobile
In the current development of the bull market, besides Bitcoin reaching a new all-time high in March this year, surpassing $73,000, there hasn’t been significant innovation in mainstream coins like Ethereum. On the contrary, meme coins have performed more prominently.
In response to this background, Joe Weisenthal, a well-known host and economist on Bloomberg TV, expressed on social platform X that cryptocurrency idealism is declining:
V God: Many idealistic projects have made significant progress
In response to Weisenthal’s comments, Vitalik Buterin, the founder of Ethereum, unexpectedly replied that the idealists mentioned by Joe Weisenthal still exist and many related projects have made important progress.
Solana founder Toly also commented that current meme coins are like junk applications in the Apple Store, but there are still many things being built, and they may have the same impact as Uber:
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What are the projects mentioned by V God and Toly?
Indeed, many new users in the current market may not care about the decentralized world that blockchain aims to create; they simply want to make money through investments. However, more and more users are providing the foundation for large-scale adoption, so let’s continue to observe with an optimistic mindset. The following text will briefly explain the projects mentioned by V God and Toly:
Farcaster
Farcaster is a decentralized social media protocol based on blockchain technology, focusing on interoperability, user autonomy, and privacy protection.
Different from traditional social networks, Farcaster aims to create an uncensored environment where users have full control over their data and audience. Through a sufficiently decentralized network architecture, Farcaster allows users to control their social graph and interact across different applications on the network using a single identity.
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Lens Protocol
Lens Protocol is a decentralized social graph that utilizes blockchain technology to provide a more secure, private, and fair social experience.
With Lens Protocol, users can create digital identities, establish trust, and interact with others through actions such as editing profiles, commenting, and sharing posts. Lens Protocol empowers users with control and ownership rights over the content they create through NFTs. The key point is that users don’t have to worry about privacy violations, message manipulation, or the risk of account bans.
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Zupass
Zupass is an identity proof based on zero-knowledge proof. With Zupass, you can prove that you are a participant in a community without revealing your name. Zupass consists of two parts: one is scanning a QR code for identification, and the other is an online component that allows login to certain websites. For example, voting websites that allow community members to vote anonymously while ensuring that each person can only vote once. This technology can be used in social media to prevent account bans and fake account issues.
Hivemapper
Hivemapper is a decentralized and continuously updated digital mapping network built on Solana. It connects contributors’ networks that provide map coverage through driving recorders. Users can access the map through the Hivemapper app, and map contributors can earn native HONEY tokens by running driving recorders.
Hivemappers believe that map creation should be decentralized and free from the scrutiny of monopolistic institutions that obtain our data for free.
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Helium Mobile
The Helium network is a unique wireless system developed by Nova Labs that uses blockchain technology to reward individuals and groups who create and operate wireless networks. Currently, it is one of the largest participants in the decentralized public infrastructure (DePIN) industry.
Helium Mobile is Helium’s 5G business, providing decentralized network infrastructure for mobile networks.
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