Vitalik: Ethereum is essentially "global shared memory," with the value of public bulletin board functionality severely underestimated

CycleProphet · 2026-03-12T14:06:05+00:00

Vitalik Buterin re-examined Ethereum's core value at the Real World Crypto event, arguing that its essence is a "public bulletin board" providing secure voting and data storage. Payment functionality ranks second, smart contracts third, emphasizing that Ethereum's practical application potential has been underestimated.

CycleProphet

2026-03-12 14:06:05

Abstract generation in progress

Deep Tide TechFlow News, March 12 — Vitalik Buterin recently posted after attending the Real World Crypto event, reflecting on Ethereum’s core value. He stated that Ethereum’s fundamental purpose is not smart contracts or payments, but rather a cryptographic “public bulletin board” — providing an open, readable and writable data storage layer for protocols like secure voting, software version control, and certificate revocation.

Secondly, there is the payment function, with ETH serving as a natural tool against Sybil attacks; smart contracts rank third, mainly used for secure deposits, ZK payment channels, and digital object interactions. Vitalik emphasized that Ethereum is essentially a “globally shared memory.” With the PeerDAS upgrade increasing data availability by 2.3 times and significantly reducing costs, its practical application potential is still seriously underestimated by the market.

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