eth-usdOlumide Adesina•Sunday, January 26, 2025•1 min read Add an article to your Reading ListRegister now to be able to add articles to your readin
eth-usd
Olumide Adesina•Sunday, January 26, 2025•1 min read
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Vitalik Buterin has expressed apprehension regarding profit-driven models, like those found in protocols on the Solana blockchain, warning that they may compromise Ethereum’s fundamental values.
Ethereum’s co-founder stressed the significance of preserving decentralization and a solid social foundation in contrast to Ethereum’s vision, which he characterized as a “greed-is-good” mentality reminiscent of Wall Street.
Buterin underlined that Ethereum’s core principles are based on open-source principles drawing comparisons to initiatives like Linux and Mozilla
He wrote, “The objective of Ethereum remains unchanged from its inception: creating a worldwide, censorship-resistant permissionless blockchain.”. Additionally, he emphasized that the network’s scaling strategy, which is focused on layer-2 solutions, is essential to maintaining its technical underpinnings and decentralized social structure.
He is also dubious of proposals to switch to high-gas-limit layer-1 scaling, which some rivals have pushed. He added that many of the advantages of Ethereum’s current social structure, which has been essential in supporting research, development, and ecosystem-building initiatives, would be lost in such a strategy.
He pointed out that such ideas that have made Ethereum successful would be compromised if layer-2 solutions were abandoned in favor of only layer-1 solutions with a higher gas limit. Buterin’s recent comments coincide with escalating conflicts over leadership and governance within the Ethereum community.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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