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Home BREAKING NEWS

Ethereum Co-Founder Buterin Defends Foundation’s Ether Sales Amid Network Criticism

Matoy by Matoy
October 28, 2024
in BREAKING NEWS, CRYPTO
Reading Time: 2 mins read
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  • Vitalik Buterin leads “KOL mindshare” with 1.69% amidst Ethereum Foundation criticism.
  • Buterin justifies Ether sales as necessary for funding network development and operations.
  • Ethereum Foundation weighs options for staking, avoiding potential risks from hard forks.

Ethereum co-founder Vitalik Buterin has taken a vocal stance on Crypto X to defend the Ethereum Foundation’s recent Ether sales, countering growing criticism. According to Andy, host of The Rollup, data from Kaito AI indicates Buterin has held the top spot in “KOL mindshare” for the last week at 1.69%, followed by Helius Labs CEO Mert Mumtaz at 1.18%. Buterin’s responses come as Ethereum faces heightened scrutiny over Ether sales and network performance.

Source: Vitalik.ETH on X

Buterin Defends Ether Sales and Network Integrity

Responding to critics, Buterin highlighted that the Foundation’s Ether sales fund core development and research, allowing Ethereum’s proof-of-stake mechanism to maintain low transaction fees and uphold zero-downtime operations since 2016. He urged skeptics to “show some respect” for the network’s achievements, noting that Ether sales enable ongoing development critical to Ethereum’s stability.

To address concerns over potential staking alternatives, Buterin explained that the Foundation’s caution about staking all Ether relates to avoiding forced decisions during contentious hard forks. He indicated the team is exploring options like staked Ether grants, which allow recipients to manage withdrawal timelines and collect staking rewards. Delegating staking roles to external groups is also under consideration.

Ethereum’s Future: Technical Vision Amid FUD

Amid growing FUD, especially as Ether’s price trails behind Bitcoin and Solana, Buterin has taken to X to advocate for Ethereum’s technical roadmap. By elaborating on upcoming stages—The Merge, Surge, Scourge, Verge, and Purge—Buterin aims to maintain confidence in Ethereum’s long-term goals and address community concerns about scalability, layer-2 integration, and network sustainability.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: ethereum
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Matoy

Matoy

If Matoy is not busy looking at the latest Web3 news, he's always in the kitchen cooking delicious meals for his family. He's also a competitive fighting game player and a car enthusiast

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