Vitalik Buterin criticizes the rise of EVM-replicating networks and encourages innovation in blockchain technology.
Ethereum co-founder Vitalik Buterin has voiced strong criticisms against the proliferation of new first-layer blockchains and EVM-replicating networks, describing them as detrimental to creativity within the development community. He believes that these so-called "copycat" initiatives have led to a stagnation in innovation.
Buterin emphasized the successful scaling of Ethereum's main layer, arguing that launching another network with features like an "optimistic" bridge is unnecessary and counterproductive, especially with lengthy withdrawal processes involved.
Rather than duplicating existing infrastructure, Buterin encourages focusing on authentic advancements in technology. He pointed out key areas for development, including:
- privacy;
- application-specific optimizations;
- minimizing transaction latency.
He also introduced the concept of "institutional L2" solutions, which could involve government registries and social networks leveraging cryptographic proofs, stating that such systems can still maintain transparency despite being centralized.
Buterin took aim at projects that superficially connect to Ethereum merely for credibility on analytics platforms. He stressed the importance of aligning marketing with actual technical capabilities.
Recent Ether Sales
In a notable move, Buterin sold around 2,961 ETH, netting approximately $6.6 million over the last three days, with an average sale price of $2,228, according to Lookonchain. These sales were conducted through the CoW Protocol, and Buterin preferred executing numerous smaller transactions rather than a single large one.
This comes after his earlier remarks in February regarding the changing landscape of layer two solutions, where he noted that their initial framework had lost significance. Developers in the L2 space acknowledged the need for growth, although they differ on scaling roles.
