Vitalik's latest article: Low-risk DeFi is to Ethereum what it is to search for Google

Written by: Vitalik

Compiled by: CryptoLeo, Odaily Planet Daily

For

a long time, the Ethereum community has faced an important contradiction: "those applications that can bring enough economy to keep the entire ecosystem running, whether it is maintaining the value of ETH or supporting the value of individual projects" and " Those applications that meet people's original intention to join Ethereum".

Historically, these two categories have been very disjointed: the former is some combination of NFTs, memecoins, and a kind of DeFi backed by temporary or recursive forces: people borrow and borrow to get the incentives provided by the protocol, or form a circular argument: "ETH is valuable because people use the Ethereum chain to buy, sell, and trade ETH with leverage." At the same time, there are non-financial and semi-financial applications (e.g., Lens, Farcaster, ENS, Polymarket, Seer, privacy protocols) that are attractive but have...

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