Ethereum's Core Contribution: A Global Public Bulletin Board
At the conference, Buterin emphasized that the greatest value of Ethereum as a platform lies in the ability for anyone to freely share data on an open and immutable network, aided by discussions with cryptography experts. He pointed out that the concept of 'data availability' is a foundational characteristic of Ethereum, preceding payments or smart contracts. Thanks to the recent PeerDAS upgrade, Ethereum's data throughput has increased by 2.3 times, and Buterin believes this capability could potentially expand to tenfold or even a hundredfold in the near future.
Buterin stressed that the importance of data sharing extends beyond financial applications. Various cryptographic protocols—such as secure online voting systems, software version management, and certificate revocation mechanisms—fundamentally require a trusted data publishing layer. These use cases often do not necessitate computation or direct payments, but adding an economic layer can help prevent unauthorized access.
Vitalik Buterin emphasized that data accessibility is a primary technical priority for Ethereum, noting that this capability has been significantly enhanced.
The Position of Payments and Smart Contracts
Buterin placed payment systems as the second tier in Ethereum's value hierarchy. Many protocols rely on payment infrastructure, whether to compensate service providers, prevent spam, or control API access. ETH, as an economic barrier, plays a crucial role in preventing mass account creation and bot activity. Notably, Ethereum's zero-knowledge payment channels offer privacy protection and robust solutions for API usage and other services that require confidentiality.
In Buterin's updated framework, smart contracts rank third. These programmable protocols become essential in applications involving collateral management, zero-knowledge payment channels, and digital asset access. Technically, many off-chain uses do not require smart contracts, but Buterin believes that having standardized computational mechanisms can greatly enhance interoperability across the ecosystem.
“Smart contracts are still crucial because no application should have to reinvent its logic from scratch,” Buterin emphasized.
Misunderstandings About Fees and Scalability Use Cases
Buterin also pointed out some ongoing misunderstandings regarding Ethereum's transaction fees and scalability. He recalled the high fees on the network between 2020 and 2022, emphasizing that these figures no longer reflect the current reality. Fees have significantly decreased, and the long-term roadmap aims to maintain this environment. The network infrastructure is also continuously evolving to better protect users from fee fluctuations.
Due to outdated perceptions, many developers and organizations still view Ethereum as too expensive, overlooking the platform's recent advancements. Buterin asserted that institutions previously hindered by technical or economic barriers should now reassess Ethereum's potential.