Vitalik Buterin shared his opinion on the current market downturn and explained what things should be focused on.
Vitalik Buterin is a co-founder of the Ethereum blockchain and he is a Canadian-Russian computer programmer. Ethereum is the second biggest crypto project in terms of 24 hours global trading volume of ETH, the native token of the Ethereum network. Vitalik is now a crypto personality and he remains ready to bring new development proposal works against the critical challenges of the crypto sector.
Recently Vitalik published a blog post and responded to the FTX crypto exchange collapse. He noted that FTX’s bankruptcy caused a significant downfall in the trust of the crypto investors in the centralized crypto services.
According to Vitalik, this situation created an inclination toward the decentralized nature of the crypto Sector and if an entity can issue a fully healthy decentralized governance stablecoin then people can use it as a currency.
Further, Ethereum co-founder suggested to the crypto investors to focus on the interpretability of the decentralized crypto projects instead to focus on combining different forms of blockchain-based identity into a unified platform.
Vitalik appreciated the role of Sign In With Ethereum (SIWE) & Ethereum Name Service (ENS) in the crypto sector. SIWE provides the ability for users to log on to websites without the website knowing any other information.
ENS is a human-readable domain name service, which allows the transaction of the crypto assets on the Ethereum network to assigned Ethereum addresses.
Recently Ethereum co-founder suggested to a crypto Investor CoinMamba to focus on the get knowledge & study on real level development works, instead of assets’ price up & downs.