Vitalik Buterin Calls on the Community to “Show Respect” in Response to the Backlash Against ETH Sales
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- Vitalik Buterin clarifies the rationale behind the ETH sales.
- ETH faces challenges in a declining market.
Ethereum [ETH] co-founder Vitalik Buterin has responded to the rising criticism from the community following the ETH sales by the Ethereum Foundation.
AskFX had previously reported that the Foundation sold 2,500 ETH worth over $6 million. This decision sparked mixed feelings within the community, with some accusing Buterin of dumping ETH.
While Buterin has not personally sold any ETH since September 12, concerns have grown regarding how these transactions may affect broader markets. Vitalik Buterin’s reasoning for ETH sales
In reaction to this backlash, Buterin
attachment_437462 </ span > span > Share your thoughts with us: “Show respect.” >”” p >> Source: Vitalik Buterin/X (19659021) He emphasized that these funds are essential to support Ethereum’s core development efforts which benefit all users in its ecosystem. They will be allocated towards ongoing initiatives led by researchers and developers advancing Ethereum’s operational capacity.”He elaborated on how these projects enhance Ethereum’s viability and scalability through decreased reliance on proof-of-work. They also help lower transaction fees and ensure expedient lock-in times for transactions via EIP-1559 while also promoting privacy enhancements like ZK-Rollup technology. blockquote >
The foundation’s budget supports various critical aspects including account abstraction technologies that boost user security, organizing local Ethereum events globally, and ensuring network stability.”
“The Foundation’s CEO remarked onhas been staking ETH since 2016. He highlighted how pivotal security efforts funded by these sales are.
Community Thoughts: Why Not Staking with their own EPS? Community Concerns regarding non-staking methods emerged as an approach to alleviate losses during zero downtime incidents from potential DoS attacks or consensus breakdowns.”
“He further revealed an idea currently on table: offering grants to individuals who can stake the Foundation’s ETH independently under ethical guidelines.”&a a&
The CEO envisioned a strategy where distribution of legitimacy plus resources across multiple entities could minimize centralized control of Ethereum’s development fostering decentralization.”
ETH Roadmap along with Market Position “to make ‘official decisions’ when contentious forks arise.” Recently made remarks provided updates about ongoing improvements in technical frameworks surrounding Ethereums roadmap covering significant focus areas addressing efficiency–scalability-security aspects impacted post-Merge process followed closely thereafter via Surge,
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