Vitalik Buterin: The only non-financial application currently being used on a large scale on the chain is ENS
Vitalik Buterin, the founder of Ethereum, published a blog post entitled "Make Ethereum Cypherpunk Again." In the article, Vitalik stated that the deeper vision behind cryptocurrency is to build a more free and open society and economy, where different parts - technology, society, and economy - are interconnected. The early vision of "web3" was also this type of vision, developing towards similar idealism but with slightly different directions. Unfortunately, since around 2017, these visions have gradually faded from people's view. Few people talk about consumer crypto payments, and the only non-financial application that is widely used on the chain is ENS. There are significant ideological differences, and most of the non-blockchain decentralized community sees the crypto world as a disturbance rather than a like-minded spirit and a powerful ally. Having experienced that era, I believe that the culprit behind this shift is the rise in transaction fees.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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