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avo

Vitalik: The new EVM chain should be innovative and genuinely rely on Ethereum, avoiding blind replication

Ethereum founder Vitalik Buterin stated that currently, a large number of newly created EVM chains are simply replicating existing architectures or connecting to Ethereum through optimistic bridges with a one-week delay. This approach is akin to the governance replication seen in Compound; while it is "comfortable," it depletes innovation in the long run, leading the ecosystem into a dead end.If a new chain does not connect to Ethereum's optimistic bridge (i.e., purely a substitute L1), the situation is even worse. What the ecosystem truly needs are projects that can bring new features, such as privacy protection, application-specific efficiency, or ultra-low latency. The form of "Ethereum connection" must match the actual functionality.For example, prediction market applications can issue and settle markets on L1, manage user accounts, but transaction execution occurs in a Rollup or L2-like system, with L1 verifying signatures and market states. A deeply connected L1 architecture should be prioritized, rather than a formal bridge for recognition.Another type of "application chain" can verify algorithm execution on government, social media, or gaming platforms, ensuring updates are authorized and executed according to pre-committed rules through technologies like STARK. Although these chains are not entirely Ethereum, they can provide algorithmic transparency and minimize trust, facilitating economic activities that were previously impossible.New projects should achieve two points: first, truly bring innovation, not just replicate existing EVM chains; second, ensure that the public relations image matches actual functionality. The project's claimed level of connection to Ethereum should genuinely reflect its technical and ecological dependencies, ensuring ecosystem interoperability and long-term value.

Coinbase CEO clashes with the Governor of the French Central Bank at Davos, focusing on stablecoin yields and the "Bitcoin Standard."

During the World Economic Forum held in Davos, Switzerland, Coinbase CEO Brian Armstrong engaged in a heated debate with French central bank governor François Villeroy de Galhau on issues such as whether stablecoins should pay yields to holders and the monetary attributes of Bitcoin.Armstrong stated that allowing stablecoins to provide yields to users would help enhance consumer returns and international competitiveness, and pointed out that if U.S. regulated stablecoins were banned from paying yields, it might actually benefit offshore products. Villeroy de Galhau took the opposing stance, arguing that private stablecoins with yield attributes could pose systemic risks to the traditional banking system and financial stability, and clearly stated that the digital euro should not use yields as a competitive tool, with its core objective being to maintain the stability of the financial system.On U.S. legislative issues, Armstrong emphasized that the CLARITY Act is not stalled but is in the negotiation phase, explaining that Coinbase's recent withdrawal of support was to oppose the banking industry's lobbying to restrict competition in the crypto sector. Ripple CEO Brad Garlinghouse pointed out that the so-called "level playing field" should apply in both directions, with both crypto companies and banks adhering to equivalent regulatory standards.When the discussion turned to Bitcoin, Armstrong introduced the concept of a "Bitcoin standard," suggesting it could serve as a long-term option against fiat currency devaluation. Villeroy opposed this, emphasizing that monetary policy falls under national sovereignty and warning that private currencies could undermine sovereignty. Armstrong responded by stating that Bitcoin does not have a single issuer and is even more decentralized than the central banking system.
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