Ethereum co-founder Vitalik Buterin believes that the direction of blockchain applications often reflects the creator's intentions and ethics. He mentions that projects like Pump.fun are derived from a flawed social philosophy.

In recent discussions, he emphasized that the positive or negative impact of cryptocurrency projects is shaped by the values driving their development.

Buterin, Cases to Avoid in Pump.fun and Terra Cryptocurrency

Buterin praised several decentralized applications that align with Ethereum's long-term vision. These include Railgun, Farcaster, Polymarket, and the messaging app Signal.

In contrast, he criticized platforms like Pump.fun, Terra/Luna, and the collapsed FTX exchange, explaining that these are harmful examples of what should not be built.

"The difference in what apps do comes from differences in beliefs about what developers are trying to achieve." – Vitalik Buterin, explanation

Railgun stood out as a key example. It went a step further by implementing Privacy Pools while providing privacy features similar to Tornado Cash.

This system, which Buterin co-developed, allows users to maintain anonymity while proving their funds are not from illegal sources.

Other projects Buterin praised include the decentralized social network protocol Farcaster and the cryptocurrency-based prediction platform Polymarket.

In the past, he mentioned that tools like Polymarket could evolve into useful mechanisms for improving decision-making in governance, media, and even scientific research, beyond betting on elections.

Meanwhile, projects like Pump.fun, designed to launch meme coins on Solana, have received strong criticism.

The Ethereum co-founder has previously warned about plans that prioritize hype over substance, as seen with Terra/Luna and FTX. He has continuously urged the cryptocurrency space, especially DeFi, to be built with ethical intentions and long-term utility in mind.

Developer Ethics Shaping the Blockchain Future

Buterin explained his view on Ethereum's unique development path by comparing it to C++, a general-purpose programming language.

Unlike C++, Ethereum is only partially general-purpose. Many core innovations like account abstraction or the transition to proof of stake heavily depend on developers' commitment to Ethereum's broader mission.

"Ethereum L1 is not in that position: someone who doesn't believe in decentralization will not add light clients, FOCIL, or (good forms of) account abstraction; someone who doesn't care about energy waste would not spend half a century moving to PoS... But the EVM opcodes would have been roughly the same either way. So Ethereum is perhaps 50% general-purpose." – Vitalik Buterin, said.

Buterin added that Ethereum apps are about 80% special-purpose. Because of this, the ethical framework and goals of those building it play a crucial role in the network's formation.