Concerns Mount Over Ethereum Foundation: Vitalik Buterin Breaks Silence

Concerns Mount Over Ethereum Foundation: Vitalik Buterin Breaks Silence

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Ethereum’s foundation has been under fire recently for its lack of support for its ecosystem and mismanagement of funds. In response to growing community concerns, Vitalik Buterin has laid out an ambitious plan to address these issues.

Vitalik Buterin’s Plan to Address Ethereum’s Challenges

In an effort to quell community concerns, Vitalik Buterin introduced a comprehensive scaling plan aimed at enhancing Ethereum’s infrastructure on both layer 1 and layer 2. Key elements of this strategy include expanding blob space to increase transaction capacity and implementing messaging improvements between networks, particularly enhancing communication between layer 1 and layer 2.

Central to this initiative is a focus on enhancing the user experience. With the rollout of EIP-4844, Ethereum has begun supporting three blobs per slot. Plans are underway to double this to six blobs per slot with the upcoming Pectra release in March 2025.

Layer 2 solutions have already made significant strides in reducing transaction fees and increasing throughput. However, Buterin emphasizes the need for continued adoption and interoperability among layer 2 networks, advocating for a streamlined messaging system to facilitate communication. Additionally, Buterin proposes that Layer 2s allocate a portion of their fees to Ether, potentially through mechanisms like burning or staking to bolster ETH’s role at the heart of the Ethereum ecosystem.

The Ethereum Community’s Growing Doubts

Criticism of the Ethereum Foundation is mounting, particularly over its financial management and perceived lack of commitment to its ecosystem. As fears rise about the foundation’s ability to support its native cryptocurrency effectively, Vitalik Buterin is calling for a restructuring that would create an “appropriate council” to decentralize decision-making, enhancing governance transparency.

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The current climate of uncertainty comes at a pivotal moment for cryptocurrencies, particularly Ethereum. New regulatory measures in the US threaten to shift market dynamics, with competitors like Solana positioned advantageously in this evolving landscape. Should Ethereum fail to adapt, there is a real risk of losing its long-held dominance.

In light of these challenges, users have rallied around the presale of WEPE, aiming to group together to form a collective as influential as whale groups.


Disclaimer: cryptocurrencies are high-risk assets. This article is for informational purposes only and does not constitute investment advice. You may lose your entire capital.


Source: Vitalik Buterin


For Further Reading:

  • The Upcoming Ethereum Update Might Change Everything
  • What Lies Ahead for Ethereum in 2025? Analysts Highlight Major Challenges
  • Is Solana More Attractive than Ethereum? A Recent Statistic Indicates Yes

Richad Addou
Crypto-Market Expert Writer

Richad Addou

Richad has an unconventional background, initially trained as a nurse, he became interested in cryptocurrencies in 2021 amid the growing excitement surrounding digital assets. Convinced by Bitcoin’s message and its transformative potential, he passionately delved into this field. After exploring major cryptocurrencies like Bitcoin, Ethereum, and Solana, he focused on Avalanche, drawn by its innovative technology and ambitious goals.

Today, as a writer for ActuFinance, he merges his two favorite hobbies: writing and cryptocurrencies, sharing his passion and knowledge with a wider audience. His objective is to continue exploring the crypto landscape while helping others navigate this complex and ever-evolving world.


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