Breaking Crypto News – Understanding Vitalik Buterin’s Vision for Meme Coin Use Cases
Breaking Crypto News – Despite opposing views, Vitalik Buterin has stood up for meme coins. He claimed that they have legitimate applications in day-to-day living and offered seven arguments in favor of his opinion. On X, a user questioned the industry’s value beyond generating revenue from attention and amusement. However, Vitalik disagreed with him and offered seven other arguments to back up his own claim.
7 Prominent Use Cases
Here are 7 reasons why Buterin believes meme coins add value to everyday life:
- Zk Reputation/Identity/Credentials: Meme coins could be used by communities or online spaces as a means of identification or reputation.
- P2P Cross-Border Payments: Even though meme coins aren’t made expressly for international payments, people could nevertheless utilize them informally. Because of their low value and simple transferability, these are only for small cross-border transactions.
- Decentralized Social Platforms: Meme coins might be integrated into these sites to encourage interaction and reward content providers. This is similar to giving tokens as tipping or rewards for well-liked postings.
- Prediction Markets: In prediction markets, meme coins might be used by users to place wagers and take part in forecasting events.
- Privacy: Meme coins with added privacy protection could include privacy features that let users transact anonymously.
- Enterprise Apps via Zk Validiums: For specific specialized use cases or experimental projects, meme coins may be included in Zk Validiums, a kind of Layer 2 scaling solution.
- Zk + Censorship Resistant Voting: To involve coin holders in decision-making processes and to influence the project’s future, meme coin communities may incorporate voting or governance procedures.
FAQ
What is the Cross-border Payment?
Any transaction involving the location of both the payer and the payee—which can involve people, businesses, or financial institutions—is referred to as a cross-border payment.
What is a Crypto Prediction Market?
Users can bet on future occurrences in a decentralized way with a cryptocurrency prediction market. Because there is no central authority over this kind of platform, the results are more accurate.
What is a ZK Validium?
Validiums are scalability solutions that leverage the availability of off-chain data and compute to improve throughput by processing transactions off-chain.
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