Vitalik calls for meme coin to combine public welfare: improve algorithms to solve Pump.fun disputes, ZK Proof becomes the future solution

Ether Founder Vitalik Buterin, interviewed on 12/4, made many suggestions regarding the meme coin frenzy, the potential combination of charity and public welfare, and how to balance decentralization with malicious behavior. He also emphasized the importance of combining ideals with practicality to explore new directions for blockchain applications.

Everyone loves playing meme coins, but can it be more meaningful

Vitalik said that in recent years, meme coins have become the most attractive area in blockchain applications, but most of them are either not speculative or are speculative. He proposed three directions to make meme coins more meaningful:

Combining with charity donations: Meme Coin can automatically set a portion of the proceeds to be donated to charitable organizations to promote the development of public welfare.

Helping Low-Income Households: Vitalik cites Axie Infinity as a successful case to encourage a model that allows low-income players to participate and benefit, using gaming to earn income and improve their lives.

Creating more fun applications: Vitalik believes that on-chain applications that only mimic casinos lack long-term appeal and should design more interesting and innovative gameplay.

(Celebrity Meme Coin Guidebook | Vitalik: Celebrity's rampant issuance of meaningless meme coins makes me very unhappy)

The Tug of War Between Idealism and Business: Insights from Diaspora

Vitalik said that currently the application of Blockchains presents a polarization:

Full of idealism but unable to make a profit.

Pursuing only profit but lacking meaning.

He believes that the future challenge is to find a model that can attract users and have public welfare value at the same time. When it comes to the failure of the SocialFi platform Diaspora in the past, he believes that the main reason for the failure is the lack of a profit model, which makes it difficult to maintain a high-level technical team. Therefore, blockchain applications need to combine the characteristics of Decentralization with sustainable sources of income.

(Note: Diaspora is an Open Source project initiated by four New York University students in 2010. The reasons for its failure include a lack of clear profit model, technical challenges, poor user experience, and competition pressure from large social platforms such as Facebook.)

Pump.fun controversy, how does the Decentralization platform deal with malicious behavior

Regarding the recent controversy in the Pump.fun live broadcast, Vitalik believes that the key lies in whether the platform's algorithm frequently pushes negative information to users. Many centralized platforms tend to push controversial or incorrect information in order to attract traffic, and if Decentralization platforms cannot improve this, the consequences could be more serious.

As an example of Twitter's Community Notes, users can add annotations and vote on the content. Annotations that have undergone longerConsensus will be displayed above the content to help users understand the facts. Vitalik suggested that decentralized platforms should adopt a democratized sorting mechanism to avoid excessive reliance on a single algorithm to improve content quality.

(Terrorism, imprisoning grandma, threatening to shoot at school campuses, etc.! Pump.fun slammed on the brakes, and the platform announced the delisting of the live streaming function)

Prevent illegal funds with ZK Proof privacy pool

Vitalik emphasizes that using zero-knowledge proof (ZK Proof) can protect user privacy while also combating malicious behavior. For example, using the privacy pool mechanism, users can conduct transactions in the privacy pool, while providing evidence to exclude themselves from any association with illegal funds.

Vitalik also references the concept of Cyperpunk, believing that ordinary users need privacy to protect their own security, while those in power should be transparent, allowing society to supervise their behavior together.

(What is the privacy pool used by Vitalik? How to protect privacy while proving legitimacy?)

The contradiction between transparency and efficiency, Vitalik instead chooses to remain neutral

Regarding the questioning of the Ethereum Foundation publicly selling Ethercoin (ETH) on the market causing panic, Vitalik clarified that the foundation is selling ETH in batches through Over-the-counter Trading (OTC) instead of directly dumping a large amount on the market. He believes transparency is necessary, but it also needs to balance the fund's needs and user expectations, which is an ongoing optimization process.

As the Ether square ecosystem gradually grows, Vitalik has gradually refused to participate in order to maintain neutrality, despite actively supporting various projects in the past. He believes that it is necessary to participate in specific applications to maintain follow-up to the ecosystem, but also to avoid excessive influence on the market. This balance will continue to be adjusted as the ecosystem expands.

(Three-year sudden decrease of 85,000 ETH holdings? Vitalik reiterates: Never sold ETH for personal gain after 2018)

In this article, Vitalik calls for the combination of meme coin and public welfare: improving algorithms to solve the Pump.fun controversy, ZK Proof appears in the future first on Chain News ABMedia.