TL;DR
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A few years ago Vitalik made a HUGE push for other blockchains (known as ‘layer-2 protocols’) to come in and help Ethereum process more transactions, faster and more efficiently.
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This week, Buterin posted on his Ethereum blog that he wants to take back some of the layer-2 functions.
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Some are speculating that he’s doing all of this just to help push the price of ETH up. After 8 years of ups-and-downs, it feels like a weird time for Vitalik to start meddling with ETH’s price like that…But hey, Crypto Twitter is entitled to its own opinions.
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Uh oh, is Vitalik grasping at straws??
OR
Is he onto something?
Do you know him? Let us catch you up:
Vitalik Buterin is one of the founders of Ethereum.
A few years ago he made a HUGE push for other blockchains (known as ‘layer-2 protocols’) to come in and help Ethereum process more transactions, faster and more efficiently.
So – a ton of companies made layer-2 protocols that have brought in billions of dollars and helped onboard new users and tech.
Well, now he’s going back on his word a lil’ bit…
This week, Buterin posted on his Ethereum blog that he wants to take back some of the layer-2 functions.
His ideas make a bit of sense:
Tech is more updated now, so the layer-1 chain (Ethereum) could take all the added pressure.
Plus, it’s more secure not having a middle man.
BUT: (and this is the juicy part)
Some are speculating that he’s doing all of this just to help push the price of ETH up. Sure, the token is doing fine, but ETH isn’t booming the same way some of its counterparts are (i.e. Solana, Bitcoin, Avalanche…)
After 8 years of ups-and-downs, it feels like a weird time for Vitalik to start meddling with ETH’s price like that…
But hey, Crypto Twitter is entitled to its own opinions.
