Vitalik Buterin Highlights Blockchain Projects: What’s in Favor and What’s Against?

Jakarta, Pintu News – Ethereum founder Vitalik Buterin recently expressed his views on the direction of blockchain application development, which he says is heavily influenced by its developers’ social philosophy and ethics.

In his latest discussion, Buterin praised some decentralized applications that align with Ethereum’s ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply- long-term vision while criticizing other projects like Pump.fun for not building long-term value.

Check out the full information below!

Buterin Judges Projects Based on Philosophy and Ethics

Vitalik Buterin, known as the co-founder of Ethereum (ETH), often emphasizes the importance of values and ethics in developing blockchain technology.

According to him, projects like Pump.fun, which focuses on launching memecoins in Solana SOL->Current SOL PriceRp 0Market Cap-Trading Volume-Circulating Supply-, are examples of apps that shouldn’t be built because they are more about hype than substance.

Buterin argues that these kinds of projects do not positively contribute to the crypto ecosystem as a whole. On the other hand, Buterin praised projects like Railgun that offer privacy features by adding Privacy Pools, which is a step up from similar features in Tornado Cash.

According to him, innovations like this are important because they support the vision of privacy and security in using blockchain technology.

Also read: New York Considers Bitcoin Adoption for State-Level Transactions!

Buterin-Backed Projects: Railgun and Polymarket

Railgun received special praise from Buterin for implementing Privacy Pools that strengthen privacy features in crypto transactions. The project is considered an example of how blockchain applications can be developed with ethics and long-term benefits in mind.

In addition, Buterin also supports Polymarket, a crypto-based prediction platform that he says can help in decision-making in various sectors such as government, media, and scientific research.

Farcaster, as a decentralized social network protocol, also earned a place on Buterin’s list of appreciated projects.

According to him, applications like Farcaster show how blockchain technology can be used for more than just financial transactions; it can also be used to build strong, decentralized communities.

Read also: Mantra (OM) Crashes 90% within 24 Hours, What’s the Main Cause?

Criticized Projects: Pump.fun and Terra

Buterin publicly criticized Pump.fun for lacking a strong philosophical foundation and focusing solely on creating hype without any real substance. The project, which operates on the Solana (SOL) network, is often associated with unstable memecoin launches and can potentially harm investors.

Buterin also alluded to the failures of Terra/Luna and the FTX exchange which he said were examples of what a crypto ecosystem should not be built on. This criticism shows Buterin’s concern for projects that might undermine public perception of the potential and security of blockchain technology.

According to him, developers should consider the long-term impact of the apps they build, not just the short-term benefits.

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Reference

• BeInCrypto. Ethereum: Vitalik Buterin Criticizes Pump Fun. Accessed on April 14, 2025
• Featured Image: CNBC