Vitalik Buterin Denies Fake News Reports Regarding Ethereum Development Involvement


Vitalik Buterin Denies Reports That He Is Stepping Back From Ethereum Development

Vitalik Buterin, the co-creator and the main face of the Ethereum Foundation, has recently denied the rumors and reports that he was stepping back from the development of Ethereum.

Rumors started after the MIT Technology Review released an article called “Ethereum founder Vitalik Buterin says his creation can’t succeed unless he takes a step back” on November 1. In the article, it was affirmed that the developer was concerned that Ethereum could only be decentralized when it finally stopped to depend so much on him.

The article, while far from false, as it only reported what Buterin affirmed, caused many rumors to surface on in the internet affirming that Buterin was leaving the development of Ethereum forever.

Because of this, the ETH developer went to social media to emphasize that the rumors were only rumors and that he is not leaving Ethereum or even reducing his focus on his blockchain research any time soon.

His quotes, he affirmed, were all about the community surpassing his presence and becoming really decentralized and autonomous instead of being centered around him forever, as an open source community should be made by the whole group of people.

He affirmed that despite continuing his work, he is less “in charge” than ever as it is about the “addition of other people’s work, not a subtraction of my own”.

This makes sense when you look at just how many different teams are working using the Ethereum technology. Initiatives like Ethereum Go are simply huge and only lose to some other gigantic open source projects like Microsoft Azure, Wix, Spyder and Tensorflox, which are still ahead of the initiative.

It Is Important To Decentralize

Other important initiatives that may cause some change in the industry are Sharding and Plasma, both made by third party developers to create a second layer for the Ethereum network. All this effort is very useful to decentralize how the blockchain actually works and this was what Buterin was talking about.

According to him, it is important to have a vibrant community of being who are focused in creating more for the Ethereum ecosystem and that they do not depend on a small number of people centered around him.

While the headline is right and Buterin believes that it would simply not be very fair for him to consider that he would act less, he just wants the community to depend on him less, which means acting more. For instance, the Ethereum Foundation has recently given millions of dollars to third parties to create open source projects that can drastically improve how Ethereum works.

The grants program is a way that the foundation has found to reward the people who are interested in making more for the platform. The grants can range from “small” donations of $10,000 USD to huge ones like $420,000 USD for teams which are doing very important developments for the Ethereum ecosystem. This largest grant was received by the Non-Custodial Payment Channel Hub.

Just last week, the Parity Technologies developer Afri Schoedon has encouraged decentralized apps to run independent ETH nodes as a way to decentralize their services.

While some of the mainstream financial markets seem keen on centralizing Bitcoin more and more, a good share of the Ethereum developers, including Vitalik Buterin, are making efforts for the decentralization of the platform.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide