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Vitalik Admits Influence in Ethereum Waning

Vitalik Admits Influence in Ethereum Waning

Vitalik Buterin role in Ethereum has been rapidly decreasing pointing to increasing level of decentralization in the home of DeFi and NFTs.
Dalmas

April 25, 2022

Introduction​

The Ethereum co-founder and tech prodigy, Vitalik Buterin, has admitted that his influential role in Ethereum and core development is waning, “decreasing every six months”.

In an interview, the innovator added that in recent days, he has to convince a “significant” number of people for his improvement proposals to go through. Some of them, the co-founder notes, have been shot down and failed to feature in past upgrades.

A direct quote from the interview reads:

I feel like my influence in Ethereum keeps decreasing every six months. I have less now than I did six months ago. Six months ago, I had less than I had a year ago. And a year ago, I had less than I had 18 months ago.

Adding,

These days, the number of people that even I have to convince to push in a particular direction is significant. If you watch some of the EIPs that I personally promote, some of them don’t even make it. So, for many of them, you have to try pretty hard to satisfy all people’s concerns.

Vitalik was answering a question on his development journey in the first smart contracting network and how the platform responded to the DAO hack of 2016, which almost took down the project.

Ethereum Decentralization

Vitalik’s comments are positive for Ethereum–a public network that is undoubtedly the source of crucial crypto innovation. Ethereum, like any other public chain, adheres to blockchain’s guiding principles of decentralization for optimum functioning. As of late April 2022, Ethereum is the host of most DeFi protocols and is a choice minting platform for NFT creators.

However, as the network’s role skyrocketed, playing a growing and significant action in the crypto and blockchain realm, development has devolved, drawing more developers. Over the years since the activation of Ethereum, developers have not stopped building.

As a result, the blockchain has successfully shifted through various critical development phases. For instance, the evolution from Homestead to the Metropolis and ahead of Ethereum 2.0 has seen Ethereum grow in strength, becoming more robust and a reliable open base layer for all kinds of developers. Most impressively, Ethereum convincingly shook off the effects of the DAO Hack, which Vitalik revealed was also one of his lowest points.

By late 2021, Ethereum remains as one of the most active projects by the number of GitHub commits, according to a CryptoDiffer compilation.

Ethereum is currently the second most valuable cryptocurrency network, with a market cap of over $340 billion.

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Introduction

Dalmas

Dalmas is an active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies.

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