On December 4, a well-liked member of the community asked Vitalik Buterin a question and mentioned that after nine years they were sick of the scammers and fraudsters in the cryptocurrency world.
At the moment, cryptocurrency is primarily used as a means of speculation, and that is where fraudsters prosper. A bank run that was sparked by significant overleveraging and lending resulted in the FTX meltdown.
Buterin recommended putting technology and applications first and avoiding trading and investing. He said, “I’d recommend increasing your distance from trading/investing circles, and getting closer to the tech and application ecosystem.”
He also suggested that those suffering from crypto fatigue learn more about some of the underlying technology, such as zk-SNARKs.
The acronym Zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge.”
It’s a type of cryptographic proof that allows one party to prove it has certain information without revealing what it is.
Attending crypto and developer meetups, listening to core developer calls, and even memorizing all of the EIP (Ethereum Improvement Protocol) numbers were also suggested by Ethereum’s co-founder.
Binance CEO Changpeng Zhao also commented, saying, “Keep building.” Aave founder Stani Kulechov also advised staying away from the financial side of cryptocurrency.