Ethereum Co-Founder Commends The Crypto Market Over Success Stories In 2022 Despite Challenges
As the year draws to an end and critical players in the industry ponder what could have been after a horrible period for the digital asset industry, the Ethereum co-founder has chosen to look at the shining spots of the industry.
Vitalik Buterin reveals what he thinks will take place in the crypto ecosystem in 2023 as the industry’s decision-makers put their disappointments behind them.
Buterin Sees No Failure In 2022
In a recent interview with Bankless, the developer highlighted why he did not view the year as a disaster, unlike others.
2022 is a year to forget for many in the digital asset ecosystem, as many collapses have created a contagion on other platforms. However, most failures resulted from executives’ mismanagement, fraud, and overleveraging with centralized platforms, not cryptocurrency.
Buterin did not see the current year as a failure, as he congratulated the crypto services providers that have been keeping the flag high in 2022. The entities include Uniswap DEX, Maker’s DAI stablecoin, and Rai Reflex Index.
Furthermore, the co-founder provided updates regarding the Ethereum base layer system and the Ethereum Name Service (ENS), which saw a spike in its user base. The Ethereum executive noted that other decentralized platforms have survived the tumultuous journey in 2022 and come out unscathed.
According to him, the human influence on any crypto project is to blame in the event of any misfortune, as they are the ones who control things, not the assets themselves. He added that no crypto protocol could pull off a project like the FTX collapse, damaging the entire market without human intervention.
As such, the Ethereum co-founder stressed that more success stories have emerged in 2022 than others were willing to share. He also mentioned the rise in Bitcoin adoption and institutional exposure to cryptocurrency as other wins of the year.
A Look Into 2023
According to the co-founder, next year presents another chance for the industry to flourish, with opportunities to come from wallet adoption, Ethereum-based protocols, and the development of inflation-resistant stablecoins.
Buterin dispels the speculation that the era of decentralized applications (dApps) development and adoption is over. Instead, he stated that there is a need for wallet development that would be user-friendly and provide secure custody for token holders.
He added that creating a wallet that could help onboard billions of users is another opportunity that needs to be explored in 2023. Building stablecoins that can survive rising inflation can generate massive opportunities for issuers,” says Buterin.
He also noted that it is possible to integrate an Ethereum sign-in on Facebook and Google, and the internet would experience the next login era of the century.
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