Vitalik Buterin Defends Ethereum Amidst Criticisms, Highlights Key Advancements

In a recent update, Buterin lauded Optimism for its role in standardizing asset transfers on Ethereum and its upcoming innovations like REMOTESTATICCALL and ERC-3668 light clients.

These enhancements aim to boost Ethereum’s efficiency and adoption.

Despite this, some critics argue that Ethereum’s ecosystem is struggling, with several projects failing and significant investor losses. Ethereum’s price fell to $2,000 but has rebounded to $2,600. The drop in gas fees has raised concerns about ETH burning and supply issues.

Buterin emphasized the growth of Layer-2 solutions like Optimism and Arbitrum, which have reduced transaction fees to under $0.01 and improved user experiences.

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Advances in zero-knowledge (ZK) technology and STARKs are enhancing security and decentralization, while Buterin’s proposed Plurality aims to improve governance.

Recent data reveals that since the Dencun upgrade, 2.23 million blobs have been sold, generating $9.3 million, though revenue and ETH burned have dropped significantly. The upgrade has also led to increased transaction failures due to bots.

Alexander Stefanov