Buterin: High Fees Undermine Web3 Vision, But Scaling Solutions Offer Hope
• Vitalik Buterin claims the original Web3 vision of a more open internet has faded due to high transaction fees
• Rising fees have excluded all but "degen gamblers" willing to pay, adjusting crypto's culture
• Buterin points to positive scaling developments like rollups and account abstraction
• He focuses on privacy solutions like zero-knowledge proofs for authentication without exposing info
• For Ethereum to succeed, it needs both the technical and social stack reinforcing its values