Vitalik Buterin: Web3 vision frustrated, reason being the rise in transaction fees
Vitalik Buterin, co-founder of Ethereum, said that the original vision of Web3 as a more open internet stack has "to some extent faded." In a lengthy blog post, Buterin identified the rise in transaction fees as the "number one culprit" for deviating from the Web3 concept. He believes that ENS is the only non-financial application being widely used, and there is now an "ideological divide" between advocates of decentralization in the crypto world and those outside of blockchain who see cryptocurrencies as a disruption. Buterin also stated that "few people talk about consumer crypto payments," and when people use cryptocurrencies for transactions or savings, they often do so through centralized means such as exchange accounts or trading stablecoin USDT on Tron.
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