Recently, Vitalik was interviewed by Tencent's "Perspective" and said that he was worried that if particularly smart people did not do encryption, and those who stayed in the encryption field lacked interesting ideas, the only application would be the financial application that had been done for many years. It would become a situation - issue a coin, make an exchange; issue another coin, make an exchange; issue another coin, this coin has cute dogs on it - these things are fun, but if they are the only ones in our industry, then this industry has failed. The challenge facing the industry is to make an application that is meaningful and that many people like to participate in. Regarding the question of why the Ethereum ecosystem and the Web3 ecosystem still have no practical application products, Vitalik said that before this year, the transaction fees were too high, some important technologies were not mature, and account security and privacy issues were not resolved. Therefore, before this year, our industry did not have enough technology to make applications that ordinary people can participate in. One of the reasons why the only successful application is DeFi is that DeFi can make more money. This year, we finally started to solve these problems. This year is the best time to make meaningful applications.