Ethereum (ETH)-Central to Vitalik Buterin has had a sharp criticism of Pump.fun, a popular platform on Solana (SOL)-Blockchain that makes it easier to launch memoins. According to the butter, the platform reflects a “bad social philosophy” and contributes to the development of harmful crypto projects.
Pump.fun in a row with ftx
Buterin emphasized that the effects of blockchain applications often reflect the intentions and ethics of its developers. He called Pump.fun, as well as the collapsed Terra/Luna ecosystem and the Bankrotte Coinbase exchange, as examples of projects that, in his opinion, should not be built.
“The differences in what the app does come from differences in convictions in the heads of the developers about what they want to achieve here,” said Buterin.
Compared to his criticism of Pump.fun, but the Bterin praised projects that in his opinion contribute to the long -term vision of the crypto industry.
Among other things, he called Railgun, an application geared to privacy that enables users to remain anonymous while they can prove that their money does not come from illegal sources. Farcaster, a decentralized social network protocol, and polymarket, a crypto-based predictive platform, also received its approval.
Solana’s Memecoin ecosystem under fire
Buterin’s comments arise from the Memecoin “madness”, with the Solana ecosystem increasing increasing criticism due to many Memecoin disasters. Situations in which developers suddenly pull liquidity out of a project, which means that investors with worthless coins remain.
An example is that Libra (Libra)-Memecoin, which fell by 94 percent after insiders removed $ 107 million in liquidity.
These incidents have led to a shift from Solana investors to Ethereum, which is regarded as a more stable and safer alternative.
Buterin’s criticism of Pump.fun and similar platforms underlines the need for ethical considerations in the development of blockchain projects.
“I think that the moment is the moment when a good social vision is most needed,” added butterin.
His plea for applications with a positive social effect serves as a call to developers to look beyond short -term profits and to strive for sustainable innovation. As a result, the entire crypto industry will be taken more seriously, he added. Despite Buterin’s sharp criticism of Pump. Fun, the Memecoin hype seems to be revealed. Sol himself did not suffer from criticism either. Sol rose sharply last week.