Buterin advises crypto traders to focus on technology, not market decline

Algorithmic stablecoins (assets backed by other digital currencies) are a logical path for the development of the crypto market due to their ability to break the monopoly of national currencies. This opinion was recently expressed by the founder of Cardano, Charles Hoskinson.

The attractiveness of algorithmic stablecoins, according to the expert, is that they are not issued by centralized structures. In addition, they are not pegged to fiat, unlike the usual stablecoins.

The head of Cardano believes that in order to secure stablecoins, it is better to resort to using deflationary cryptocurrencies, such as BTC or ADA, as they have sufficient liquidity pools.

“The concept behind algorithmic stablecoins is to rid governments of fiat currencies. This is the gold standard of the digital age,” Hoskinson wrote.

And Ethereum co-founder Vitalik Buterin advises traders who are desperate because of the current situation in the industry to focus on technology, and not on the fall of the crypto market. He recommended “to distance from the environment associated with trading and investment, and pay more attention to technology and applications.”

According to Buterin, now is the best time to learn zk-SNARK zero-knowledge proof technology, visit crypto events in Latin America, get to know developers at All Core Devs conferences, etc. After all, being in the industry for technology is a “significant and positive” cultural development compared to being in it for hypothetical financial gain.

Anthony Sassano, host of The Daily Gwei YouTube channel, agreed with the Canadian developer, noting that the bear market is a good time to get away from monitoring and learn more about technology.

What do you think about it?