Vitalik Buterin: Crypto social media fails to thrive, Ban X impact a loud alarm?

Jakarta, Pintu News – A wave of account bans and tightening policies on X platform sparked a new discussion among the global crypto community. The cryptocurrency industry’s reliance on centralized platforms is again being questioned, especially after many crypto accounts were impacted by unilateral policies.

This situation has prompted deep reflection on the future of blockchain-based social media. In a recent interview, one of the most influential figures in the crypto world proposed that the social crypto ecosystem is in need of a complete reset.

Decentralized Social Media that Keeps Stumbling

Ethereum (ETH) founder Vitalik Buterin has publicly admitted that most decentralized social media projects fail to reach scale. According to him, the main problem lies in the network effect, which is difficult to build without a strong initial user base. A new platform, no matter how good the technology, will feel empty if there is no lively interaction. This is a classic unsolved challenge in the cryptocurrency space.

In addition, Vitalik highlighted the common mistake of social crypto projects that rely too quickly on tokenization. Many developers assume that financial incentives can instantly solve social problems. However, this approach often creates speculation and strengthens the influence of already dominant parties. As a result, the quality of content and discussion does not develop in a healthy way.

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Migration from Centralized Platforms Doesn’t Happen Instantly

Mask Network founder Suji Yan views the mass ban phenomenon on X as part of a long-term process. He believes that the migration of users from centralized platforms to decentralized alternatives will not happen suddenly. The move is gradual and often goes through a semi-decentralized phase first. This pattern was also previously seen in the evolution of DeFi and blockchain-based prediction markets.

This phased approach explains why aggregator tools and shared protocols are increasingly in demand. Users can try out the social crypto experience without having to completely abandon the old platform. This way, transition risks can be minimized while building new habits. For the cryptocurrency ecosystem, this strategy is considered more realistic and sustainable.

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Wallet and Prediction Market as the New Foundation

The discussion also highlighted the potential convergence between crypto wallets and social media. Suji Yan envisions a future where users can publish content directly from their wallets, across blockchain networks. This concept aims to reduce onboarding barriers and simplify digital identity. In the long run, the wallet could become the center of social interaction as well as finance.

Vitalik Buterin added that wallets will play an important role in protecting user identity and data. Interoperability between platforms is key so that the ecosystem is not fragmented. He also raised prediction markets as a potential tool to improve the quality of online discourse. Market-based probabilities are considered capable of dampening extreme claims faster than conventional fact-checking mechanisms.

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Reference:

• Coinpedia. Vitalik Buterin Says Crypto Social Needs a Reset After X Ban Fallout. Accessed January 28, 2026
• Featured Image: Bitcoin News