• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Vitalik Buterin's Proposal: Managing Crypto Chaos Effectively

user avatar

by Giorgi Kostiuk

a year ago


According to the latest post by Ethereum co-founder Vitalik Buterin on handling the chaotic nature of the cryptocurrency space, he discussed potential solutions to mitigate negative impacts while maximizing the industry's potential. In his proposal, he introduced the concept of Degen communism as a political ideology that could address these challenges.

Buterin emphasized the need for a fresh approach to address project failures or hacks. He suggested prioritizing smaller users for refunds up to a certain threshold instead of proportionate refunds. This strategy aims to protect vulnerable participants from significant losses during market downturns.

Acknowledging the volatility of the crypto market, Buterin recommended leveraging this chaos for positive outcomes. He proposed charitable contributions from meme coins and games, allocating a portion of their issuance to charitable causes to foster a culture of community giving.

Additionally, Buterin highlighted the importance of implementing airdrops to ensure fair rewards distribution among individual users and public contributors, including open-source developers. He also emphasized the establishment of proactive funding programs for public goods akin to successful initiatives seen in projects like Optimism.

Furthermore, Buterin discussed empowering communities to hold governance token holders accountable for their decisions. He suggested enabling mechanisms for forking projects and redistributing tokens held by concentrated players to enhance governance transparency.

In an effort to enhance user identification and community participation proofs, Buterin proposed the adoption of proof of personhood protocols. This approach would allow for more reliable administration of initiatives targeted towards individual users.

Buterin's vision for Degen communism materialized in Degen Chain, a layer-3 blockchain on Base networks. Within 24 hours of its launch, the platform processed $100 million in transactions, hosting 7,500 contracts and 2,300 tokens. Notable tokens on the network include DSWAP with a $14 million valuation and DPEPE with a $23 million valuation. Despite lacking stablecoin support, the DEGEN token surged to 6 cents, marking a 500% increase from its value on Thursday.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Impact of the GOP Crypto Bill Failure on Market Dynamics

chest

The GOP's unsuccessful crypto bill leads to market drops, with Bitcoin and other assets seeing significant losses.

user avatarGiorgi Kostiuk

Political Shift: Republicans Halt Cryptocurrency Legislation Discussion

chest

Delay in cryptocurrency bills sparks concern and tension within political circles.

user avatarGiorgi Kostiuk

Unexpected Delay in Crypto Bills and Trump's Reaction

chest

Discussion on new crypto bills faced obstacles, prompting a negative reaction from Trump.

user avatarGiorgi Kostiuk

U.S. Stock Market Shows Mixed Results at Open: What Does This Mean for Cryptocurrencies?

chest

The U.S. stock market opened mixed, potentially impacting cryptocurrencies. Discover how current investor sentiment influences the market.

user avatarGiorgi Kostiuk

The 'Do you know da wae?' Legend Launches $DAWAE Token, Uniting Meme Culture

chest

The $DAWAE token, based on the iconic meme 'Do you know da wae?', aims to unify meme culture enthusiasts on the blockchain.

user avatarGiorgi Kostiuk

Third-party Proof of Reserves by Bitwise for Bitcoin and Ethereum ETFs

chest

Bitwise Asset Management announces the implementation of third-party proof of reserves for Bitcoin and Ethereum ETFs to enhance investor transparency.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.