Lưu trữ cho từ khóa: Vitalik Buterin

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Buterin outlines next steps for Ethereum’s proof-of-stake evolution

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Ethereum’s Buterin has unveiled plans to enhance the network’s consensus model, focusing on single-slot finality, staking accessibility, and increased validator participation.

Despite the successful completion of the Merge — an essential upgrade that transitioned Ethereum‘s consensus algorithm from proof-of-work to proof-of-stake — the network’s co-founder Vitalik Buterin notes that there are still remain “some important areas in which proof-of-stake needs to improve.”

In a Monday blog post, Oct. 14, Buterin emphasized that critical improvements are still necessary to mitigate centralization risks and enhance overall functionality. The roadmap distinguishes between technical improvements — such as stability and accessibility for validators — and economic changes aimed at addressing centralization.

One major area highlighted is the desire for single-slot finality, which would reduce the current block finalization time from 15 minutes to just 12 seconds (or even four seconds), a change that would “significantly improve the user experience both of the layer-1 and of based rollups, while making decentralized finance protocols more efficient.”

Another pressing concern is staking democratization. Currently, a minimum of 32 ETH (around $81,500 at current prices) is required to participate in staking, a serious limitation, to which Buterin suggested lowering the threshold down to 1 ETH in an effort to increase solo staking participation.

“Poll after poll repeatedly show that the main factor preventing more people from solo staking is the 32 ETH minimum. Reducing the minimum to 1 ETH would solve this issue, to the point where other concerns become the dominant factor limiting solo staking.”

Vitalik Buterin

To achieve these enhancements, Buterin outlined several strategies. One proposed solution, referred to as “brute force,” involves improving signature aggregation through the potential use ZK-SNARKs, enabling the processing of signatures from millions of validators within each slot.

Additionally, he introduced the concept of “orbit committees,” which would involve randomly selected medium-sized committees tasked with finalizing the chain while maintaining robust security features.

For the staking challenges, Buterin suggested a “two-tiered staking” model, which would allow for two classes of stakers — one with higher deposit requirements and another with lower, an approach that would create a more inclusive environment for participants while ensuring economic finality.

While the timeline for implementing these proposals remains uncertain, Buterin emphasized the necessity of continued development to strike a balance between simplicity and functionality, reiterating the importance of identifying a protocol that is “sufficiently simple that we are comfortable implementing it on mainnet.”

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Saving Ethereum from itself: Experts weigh in on Vitalik Buterin’s ‘alignment’ plan

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Will fragmentation tear Ethereum’s booming ecosystem apart? Vitalik Buterin urges “alignment,” but is it too late? Experts share their insights.

Buterin suggests ‘alignment’

Over the past few years, Ethereum’s (ETH) ecosystem has expanded rapidly. As of 2024, there are over 4,000 decentralized applications and dozens of layer 2 solutions built on Ethereum, each with a unique team and vision.

However, this diversity creates a challenge: fragmentation. How can such a large, decentralized ecosystem work together toward common goals without losing its unique identity?

The risk of fragmentation is already becoming apparent. Take, for instance, layer 2 solutions like Arbitrum (ARB) and Optimism (OP). While they aim to scale Ethereum by offloading transactions from the main chain, they operate somewhat independently. This raises concerns about how well these L2s will be able to cooperate in the long run.

Vitalik Buterin, Ethereum’s co-founder, recently addressed this issue, calling for ‘Ethereum alignment’ to unify the various projects and teams within the ecosystem.

The core problem lies in ensuring that all these independent efforts — whether by L2 teams, wallet developers, or community groups — contribute to a cohesive whole. 

Without alignment, Ethereum risks becoming a collection of isolated projects that don’t integrate well, undermining its strength as a decentralized network.

Buterin has advocated for establishing clear metrics to evaluate how well individual projects align with Ethereum’s broader goals, thus reducing the risk of social layer capture — where success is based more on personal connections than on actual contributions to the ecosystem.

Let’s dive deeper into how the metrics Buterin suggests can help Ethereum grow without losing its core values.

Three pillars of Ethereum alignment

Ethereum alignment rests on three core types:

  • Values
  • Technological
  • Economic

Each type serves as a guiding principle for ensuring projects contribute meaningfully to Ethereum’s long-term success.

Values alignment

The first pillar of Ethereum alignment is values. Ethereum was founded on the ideals of openness, decentralization, and public goods, and these values must be shared by all projects within the ecosystem.

Open source is a crucial part of this. In an ecosystem driven by transparency and trust, code that is proprietary or hidden from public view signals a red flag.

Ethereum’s base layer software, such as Geth and Prysm, is fully open-source, allowing anyone to inspect and contribute to the code. However, this standard needs to extend beyond the base layer. 

Buterin argues that all core infrastructure projects should adhere to the Free Software Foundation’s and Open Source Initiative’s definitions of open-source software.

Consider the DeFi space: projects like Uniswap (UNI) are open-source, which is a major reason behind their strong community support. As of Oct. 10, the total liquidity in Uniswap hovers around $3.4 billion, and its success isn’t just due to being a great protocol — it’s because anyone can build on, fork, or improve it.

On the other hand, projects that prioritize profits over public goods—those that introduce proprietary elements — risk creating fragmentation. For instance, Polygon’s (POL) ZK rollups, while a major step forward in scaling technology, still operate largely within a centralized framework.

Proprietary code or closed projects can become single points of failure, undermining decentralization and introducing unnecessary risks. Values alignment means that as these technologies evolve, they must remain open and accessible to all, reducing the risk of centralization creeping back into the system.

Technological alignment

Ethereum’s technological backbone relies on shared standards. Without these, the network would devolve into a fragmented collection of incompatible solutions. Technological alignment ensures that projects are not only innovative but also interoperable.

Take the ERC standards as an example. The ERC-20 token standard is widely adopted, making it easy for wallets, exchanges, and applications to interact with any token built on Ethereum. As of 2024, over 500,000 ERC-20 tokens exist, showcasing the power of shared standards. 

Similarly, ERC-721 has become the foundation of the NFT ecosystem, enabling the creation of unique digital assets across multiple platforms.

However, Ethereum’s technology is evolving rapidly. L2 solutions, account abstraction (ERC-4337), and cross-chain bridges are becoming more prominent, and it’s crucial that these innovations adhere to open standards.

For instance, cross-L2 transfers need to work seamlessly for users moving assets between chains. Currently, this process remains clunky and expensive.

The ecosystem also faces challenges with newer technologies like ZK-rollups. While ZK-rollups offer enhanced scalability and privacy, they introduce technical complexities that require careful standardization.

To avoid fragmentation, projects must collaborate to establish new ERCs and protocols that ensure these innovations are fully integrated into Ethereum’s broader ecosystem rather than siloed off.

Economic alignment

The third pillar of alignment is economic. Ethereum’s economy is anchored by ETH, and economically aligned projects should prioritize using ETH as the native token wherever possible.

As of Oct. 10, the DeFi ecosystem holds over $81 billion in locked assets, with ETH serving as the backbone for many protocols. 

Projects like MakerDAO (MKR) and Aave (AAVE) rely on ETH collateral to secure loans, reinforcing its position as the most trusted asset within the Ethereum ecosystem. This network effect drives further adoption and strengthens the broader Ethereum economy.

However, economic alignment extends beyond simply using ETH. Buterin suggests that projects should contribute to public goods—initiatives that benefit the entire ecosystem, not just individual projects.

Gitcoin, for example, has raised over $50 million to fund open-source development, supporting infrastructure that helps the entire Ethereum network thrive.

Yet, challenges remain. Many projects, particularly those handling high transaction volumes, increasingly rely on stablecoins instead of ETH. This trend risks fragmenting Ethereum’s economic model, as ETH becomes less central to the network’s daily operations.

Ultimately, economic alignment means ensuring ETH remains the core unit of value across the ecosystem while contributing to Ethereum’s long-term success through reinvestment in public goods.

Metrics to measure alignment

To avoid making “alignment” a vague or abstract concept, Buterin proposes using specific metrics to track how well projects align with Ethereum’s values, technology, and economics. Let’s dive into the four key metrics he suggests:

Open source adoption

The degree to which a project adheres to open-source principles can be measured by how much of its code is available for public inspection. 

Projects that score highly on this metric follow the OSI and FSF definitions of open-source, ensuring they remain transparent and collaborative.

For example, fully open-source projects like Aave allow anyone to review their smart contracts and verify security, aligning closely with Ethereum’s core ethos of decentralization and transparency. 

In contrast, projects with closed-source code risk creating centralized control points, which run counter to Ethereum’s vision.

Standards compliance

Standards compliance measures how well a project follows established Ethereum standards. Projects that adopt standards like ERC-20 or ERC-721 ensure seamless interaction with other dApps and tools in the ecosystem.

This metric also considers how actively projects contribute to new standards via Ethereum Improvement Proposals. Projects contributing to such initiatives show a high level of technological alignment.

Decentralization and security

The walkaway test is a simple but effective metric: if a project’s team disappeared tomorrow, would it continue to function? Decentralized exchanges typically pass this test with ease because their smart contracts operate autonomously without needing a central authority.

Additionally, the insider attack test evaluates a project’s vulnerability to internal exploitation. Projects heavily reliant on centralized control score poorly here, as they are more susceptible to insider attacks. 

In contrast, projects resilient to such risks—due to decentralized governance—demonstrate a strong commitment to Ethereum’s decentralized vision.

Positive-sum impact

This metric assesses how much a project gives back to the Ethereum ecosystem and beyond. Projects that use ETH as their primary token, contribute to open-source development, or donate part of their revenue to public goods score highly in this area.

Experts weigh in

As Ethereum pushes toward greater scalability through L2 solutions, the balance between decentralization and efficiency becomes more delicate.

The key question is how much decentralization can be sacrificed without compromising Ethereum’s core values, and whether innovation in L2 technology risks fragmenting the ecosystem.

To explore this critical intersection, crypto.news consulted leading industry experts, whose insights reveal that Ethereum is still facing uncharted challenges—and that the future may demand trade-offs that challenge the network’s founding principles.

Ulyana Skladchikova, Head of Product at Blockscout, recognizes the realities of Ethereum’s evolving ecosystem. She sees Ethereum’s current state as one of rapid experimentation, where decentralization and scalability are constantly tested against each other.

Decentralization is a process—it’s constantly evolving. Right now, we’re in a phase where L2 solutions are launching frequently, testing different hypotheses, and iterating based on what works. There are trade-offs happening as we balance efficiency with Ethereum’s core decentralization goals, but transparency must remain non-negotiable.

Yet, while Ethereum’s decentralized identity is being tested, the journey toward full decentralization is far from complete. 

We’re still years away from fully decentralized systems like sequencers and fraud-proof submissions. It’s not just about technology—it’s also about community engagement. We need more active participation. Decentralization can’t be driven by a small group of super-users; it requires a much broader base to ensure its success.

Roy Hui, Co-Founder and CEO of LightLink, offers a more pragmatic perspective. While he values decentralization, he argues that not all projects need to pursue it with the same intensity.

The importance of decentralization depends on what goals a project is aiming for. Gaming chains, for example, don’t need the same level of decentralization as financial applications. At LightLink, while efficiency might take precedence in some areas, we make sure user autonomy is never compromised. Users should always be able to control their assets, even when some trade-offs around centralization are made.

Hui agrees that decentralization remains the ultimate goal—it’s just not something that can be achieved overnight.

Decentralizing a chain is like trying to rebuild an airplane mid-flight — it’s incredibly challenging. By aligning with Ethereum’s security standards and decentralizing processes like fraud-proof submissions, we’re finding a balance between performance and decentralization without sacrificing either. It’s a gradual journey, but we’re getting there.

Both Skladchikova and Hui also raised the issue of fragmentation within Ethereum, particularly with respect to L2-L2 bridging. As Skladchikova points out:

The biggest blind spot right now is L2-L2 bridging. Without secure and transparent bridges, we risk creating isolated ecosystems where different L2s don’t communicate well with each other. This could lead to fragmented solutions, where L2s aren’t working as part of the broader Ethereum ecosystem. Bridges need to be secure and transparent, or else the entire network could face serious fragmentation risks.

While Skladchikova focuses on structural risks, Hui highlights the user experience, arguing that the complexity of cross-chain asset transfers needs to be simplified to minimize friction.

Cross-chain ownership and asset transfers are primarily a UX challenge now. Users shouldn’t need to think about the complexities of which chain they’re interacting with. The process should be seamless and intuitive. Users should be able to move assets without worrying about the underlying technicalities.

As Ethereum continues to grow, both experts also expressed concerns about social capture—the risk of power and influence becoming concentrated in the hands of a few insiders, rather than being evenly distributed across the ecosystem.

“Ethereum’s community is still relatively small, and early relationships play a big role in what gets built and promoted,” Skladchikova explains. 

But as the ecosystem matures, projects built on favoritism will begin to fall away. Innovation will ultimately win out, but we need to ensure the system remains open and transparent to prevent social capture.

Hui and Dan Enright, Ecosystem Lead at LightLink, are actively working to prevent social capture within their own platform.

We’re forming a DAO that will oversee decision-making and resource allocation. By decentralizing governance, we’re making sure influence within LightLink is distributed fairly. It’s not just about who has early access—it’s about creating opportunities for everyone to participate.

Enright adds:

Our goal is to make governance accessible, so it’s not dominated by insiders. We’re working to empower independent developers and give them the tools they need to bring their projects to life. The future should be about merit, not connections.

Experts acknowledge that decentralization remains the ultimate goal, but the road forward will require compromise, innovation, and a firm commitment to keeping Ethereum an open, fair, and transparent ecosystem.

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Ethereum’s Buterin dumps 10b MOODENG tokens, donates $640k to his charity fund

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Vitalik Buterin appears to have sold 10 billion MOODENG tokens and donated over $640,000 worth of crypto to his biotech charity fund.

Ethereum co-founder Vitalik Buterin has sold 10 billion (MOODENG) tokens, donating the proceeds to his biotech fund Kanro, while advocating for memecoins to maximize positive impact through charitable contributions.

According to on-chain data from blockchain analytics firm Lookonchain, the sale brought in 308.69 ETH, worth about $762,000, of which Buterin donated 260.16 ETH (around $642,000) to his biotech fund Kanro.

Following the trade, Buterin addressed the sale on X, expressing support for memecoins that contribute to charitable causes. He mentioned that any tokens sent to him are donated to charity, including the MOODENG tokens, which he allocated to anti-airborne disease technology.

“I’ve said before that I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens!”

Vitalik Buterin

MOODENG tanks 20% following Buterin’s sale

Despite Buterin’s clarification, the sale caused concern among crypto holders, triggering a 20% drop in MOODENG’s price to $0.10.

Co-founded by Buterin, Kanro directs resources to pandemic solutions, particularly in low-income countries, with a focus on open-source or IP-free projects. In November 2023, Kanro gifted $15 million to the PolyBio Research Foundation to focus research and clinical trials on SARS-CoV-2.

MOODENG, a memecoin launched on Solana through Pump.fun, was inspired by Moo Deng, a baby pygmy hippopotamus from Thailand. The token has quickly gained traction, amassing over 18,000 holders and surpassing a $100 million market cap, with $145 million in 24-hour trading volume.

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Another Vitalik Buterin funded wallet dumps 1,300 ETH in 11 days 

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A wallet linked to Vitalik Buterin has sold over $3 million worth of ether in the past 11 days.

On Sept. 30, analytics platform Spot On Chain reported a transfer of 649 ETH (roughly $1.72 million) to cryptocurrency exchange Paxos. The transaction marked the conclusion of a series of sales triggered after the Ethereum co-founder funded the wallet in question.

Identified by “0x556,” the wallet received 1,300 ETH ($3.21 million) on Sept. 19 from “0xd04”, an Ethereum wallet said to be controlled by Buterin. Reportedly, “0xd04” was funded by the crypto pioneer in 2022, when he transferred 70,000 ETH.

Notably, this wasn’t the first time these wallets have exchanged funds. According to on-chain data, “0xd04” had sent 2,000 ETH, then valued at $5.265 million on September 2023, preceded by a transfer of 999 ETH valued at $2.63 million the same month.

Meanwhile, another transfer of 1701 ETH valued at $4.47 million was made the month before, bringing the total ether received to date to 5,999 ETH.

At press time, “0x556” had not been labeled as Buterin’s, but in a post made on Sept. 12, 2023, Spot On Chain speculated that the Ethereum co-founder was behind the transfer of over 2,000 ETH to crypto exchange Bitstamp at the time.

While many view transfers like these as Buterin’s attempts at profiting, he has publicly denied these allegations and reiterated that he has not sold ETH for personal gains since 2018.

The concerns emerged earlier this month as another wallet which received 3,800 ETH from Buterin in August, was seen offloading the funds across multiple transfers. However, Buterin soon clarified that the sales were executed by a “bio-defense group” he funds.

In an earlier post, he added that all ETH sales funded by accounts linked to him were to either support ethereum ecosystem projects he deems valuable or for philanthropic purposes.

Besides community concerns over these sell-offs, the Ethereum co-founder recently came under fire for wielding too much influence over Ethereum’s direction, with Cardano founder Charles Hoskinson likening Ethereum’s governance model to a “dictatorship” driven by Buterin’s pivotal decisions.

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Phân tích

CELO spikes 15% following Vitalik Buterin’s endorsement

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Celo recorded a remarkable price spike within an hour after Ethereum’s Vitalik Buterin gave the project a positive endorsement. 

Notably, in a post this morning, Buterin highlighted how Celo’s work aligns with Ethereum’s mission to improve access to financial services globally. 

His comment came in response to a previous report from Artemis, which confirmed last week that Celo (CELO) overtook Tron in stablecoin usage, specifically in daily active addresses. 

This came after Tether announced plans to launch USDT on Celo six months back. Interestingly, the disclosure from Tether came after a similar announcement from Circle to introduce USDC on Celo in January. 

Buterin’s latest support led to a spike in Celo’s price this morning, with a 19% surge within an hour pushing the token to a three-month high of $0.6552 before facing rejection. However, the hourly candle still closed with a 13% gain.

Celo is up 15% in the past 24 hours and is trading at $0.6119 at the time of writing. Its weekly gains currently stand at 34.45%, translating to a surge in market cap to $338.9 million. Celo’s daily trading volume has also skyrocketed by 511% to $99 million.

CELO 1D chart – Sept. 25 | Source: crypto.news

At the current position, Celo is trading above the Ichimoku Cloud, a classic signal of a bullish trend. In the Ichimoku Cloud, the conversion line (Tenkan-sen) stands at $0.5455, representing a key short-term support level. 

Meanwhile, the baseline (Kijun-sen) has risen to $0.5225. The current price above these levels points to ongoing bullish momentum, especially as the lagging span A (Senkou Span A) at $0.5339 is also providing upward support.

However, the Williams % Range dropped to negative 19.24. While this confirms that the bulls have seized control, it suggests that the market is nearing overbought levels but has not quite reached an extreme.

Despite the bullish price action, the rejection from the $0.6552 high shows there is some selling pressure. The key levels to watch will be the support provided by the Ichimoku Cloud and the resistance around the recent peak.

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Hoskinson slams legacy crypto media after calling Ethereum a ‘dictatorship’

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Charles Hoskinson, Cardano founder and former Ethereum chief executive, criticized an article published by Cointelegraph after an interview where he dubbed Ethereum a ‘dictatorship’ when compared to Cardano’s new governance model.

In an interview with Cointelegraph on the the sidelines of TOKEN2049 conference in Singapore, Hoskinson explained how Ethereum’s (ETH) current governance model is too dependent on its co-founder Vitalik Buterin when it comes to decision-making, though he does not view Buterin as having absolute power.

Shortly after the article was published, Hoskinson took to his X account to claim that he would not be giving the legacy crypto media any more interviews, due to having “had enough of the dramatic headlines and wasted interviews.”

When asked to explain why he compared Ethereum to a dictatorship, the Cardano (ADA) founder said that the decentralized platform looks to Buterin for inspiration on where the blockchain is headed.

Though he does acknowledge that Buterin does not necessarily hold all the power, as Ethereum consists of the Ethereum Foundation, a community and stakeholders that make major decision during core meetings. Even so, he cannot deny the influence Buterin has over the blockchain.

As an example, he highlights how Buterin had a major role in spearheading Ethereum’s shift from sharding-based optimization to rollups and layer-2 networks.

In contrast, Hoskinson claims that Cardano’s own governance model is much more collaborative and ensures that the decentralized platform will still go on long after he is gone.

This is due to the blockchain’s delegate-based model, consisting of researchers and engineers that make up what he calls an Intersect that uses a voting system to determine its next steps.

He goes on to explain how the model solves the problem that has plagued other major blockchains, such as “the anarchy” of Bitcoin’s governance and “the dictatorship” of Ethereum’s model.

Before founding Cardano, Hoskinson was one of the co-founders of Ethereum along with Buterin and held the position of CEO in 2013. He was later removed from the company in 2014 because Hoskinson wanted the protocol to be commercialized while Buterin wanted it to be a non-profit.

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Iggy Azalea drags Ethereum creator Vitalik Buterin for singing at TOKEN2049 Singapore

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Rapper Iggy Azalea seemingly dissed Vitalik Buterin and his fellow TOKEN2049 attendees in Singapore, dismissing the many panel discussions and Ethereum co-founder’s singing as “loser s—.”

In a Saturday social media post, the “Fancy” singer clapped back at critics, saying: “I don’t complain about watching you all mumble around on conference stages singing songs about crypto or other loser s— I’d be embarrassed as f— to post.”

See below.

Although Azalea didn’t mention Buterin’s name, it was clear who she was referring to.

Buterin, who co-founded Ethereum (ETH), appeared on stage at TOKEN2049 and sang a song about cryptocurrency. Tron founder Justin Sun tweeted the video of his performance, stating that it “requires a lot of courage.”

Azalea wins support

Certain crypto community members criticized Azalea after videos and photos from her crypto-themed event in Las Vegas were posted online.

Azalea, whose real name is Amethyst Amelia Kelly, quickly retorted with several tweets.

Azalea, 34, hosted the event to promote her meme coin, MOTHER, as well as her newly launched casino, Motherland.

The rapper added that those critics would “cry” if they knew who was in that building to attend her event.

Other crypto community members, even those who didn’t attend, came to the Australian star’s defense:

Azalea prefers Solana over Ethereum

Azalea’s comments didn’t stop there. She went a step ahead and slammed the ETH network, too. The rapper narrated an incident that happened while she was on a plane where a “tradfi guy” seated next to her asked about ETH.

Azalea stated that she advised him to buy Solana (SOL), citing its entry price and that it was better suited for retail expansion.

The rapper also reiterated her stance in another tweet, praising the Solana network for the way it handles congestion. She also added a screenshot of her Google search where the result mentioned that Solana is generally better at handling network congestion.

A part of the reason for her support towards Solana is because her meme coin, Mother Iggy, is a SOL-based coin. MOTHER gained quick popularity when it was launched on May 29, 2024.

Despite being around for just a couple of days, the meme coin saw its price surge to an all time high of $0.2406 on June 6. That was approximately a 1400% surge from its all time low of $0.004545 on May 31.

However, the meme coin has lost over 70% of its value from its ATH. But amidst all the craze around Iggy’s party and her tweets, MOTHER has surged over 22% in the last 24 hours, according to CoinMarketCap data.

‘Never touch a celebrity memecoin’

The one-sided beef between Azalea and Buterin began after Andrew Saunders, the chief marketing and growth officer of the Ethereum Virtual Machine (EVM) blockchain Skale, blasted celebrity involvement in crypto.

“I come from Hollywood, and I would never touch a celebrity memecoin,” Saunders told Cointelegraph at TOKEN20249. Saunders warned holders: “you’re gonna get dumped on.”

In June, Buterin also took a swipe at celebrity meme coins.

“I’m feeling quite unhappy about with ‘this cycle’s celebrity experimentation’ so far,” he said on X.com. “How do we push things in a better direction?”

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Vitalik Buterin linked wallet dumps $2.2m in ETH in 12 days

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A wallet which received 3800 ETH from Vitalik Buterin in August has sold over 950 ETH over the past weeks.

According to Lookonchain, a wallet that received approximately $9.8 million in ETH from Ethereum co-founder Vitalik Buterin sold 190 ETH for $441,971 USDC on Sept. 11. 

The wallet initially received 3,800 ETH from Buterin last month—3,000 ETH on Aug. 9 and an additional 800 ETH on Aug. 30. Shortly after, it sold 760 ETH for $1.835 million USDC at an average of $2,414 per ETH, before continuing with the subsequent sales.

At the time of writing the wallet had sold 950 ETH since Aug. 30, for roughly $2.28 million.

The transfers sparked accusations that Buterin was selling ETH for profits, but he recently denied these claims, stating the funds were intended for supporting ecosystem development and philanthropic efforts.

“All sales have been to support various projects that I think are valuable, either within the ethereum ecosystem or broader charity,” Buterin said in an X post.

However, he did not clarify who was the recipient of his latest transfer.

Amid this backdrop, the Ethereum Foundation, the entity supporting the development of the Ethereum blockchain, has also made several notable transactions over the past months. 

As previously reported by crypto.news, the foundation recently sold 450 ETH for 1.029 million DAI on Sep. 9, bringing its total sales for 2024 to 3066 ETH. While the Ethereum Foundation hasn’t officially commented on the rationale behind its recent ETH sales, insiders have noted that these were intended to cover the foundation’s operational expenses.

Meanwhile, the recent sales have exerted downward pressure on Ethereum’s (ETH) price, with the leading altcoin currently down 13% over the past 30 days.

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Công nghệ

Blockchain ID platforms could shift airdrops from risky to valuable

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The role of airdrops within the blockchain ecosystem has recently been under the microscope after Vitalik Buterin voiced his support for them, but what part do they really play?

Titus Capilnean, Vice President of Go-To-Market at Civic, told crypto.news that airdrops are a powerful tool for building and maintaining a loyal community within blockchain projects. In response to a recent Vitalik Buterin post in support of airdrops, Capilnean pointed out the significant risks posed by malicious actors who exploit these distributions.

“Airdrops are a great form of community-building tool for recognizing and rewarding valuable participation in a project.”

Titus Capilnean, Vice President of Go-To-Market at Civic, told crypto.news

In his original post supporting airdrops, Buterin suggested that airdrops could serve as an ideal testing ground for blockchain-based identity frameworks, addressing common challenges and refining these systems in real-world scenarios. 

The Ethereum (ETH) co-founder also said airdrops could go beyond simple token distribution and become a tool for enhancing community engagement and project security as an initial use case for identity systems.

In most cases, airdrops are designed to reward genuine community members, recognize valuable contributions, and ensure a fair, though not necessarily equal, distribution of tokens. 

One of the most popular token distributions this year was the Dogs (DOGS) airdrop which, consequently, disrupted the Telegram Wallet and some of the leading exchanges due to a huge amount of traffic.

Another long-awaited airdrop was that of the Hamster Combat token. After months of delay, the team behind the Telegram mini-game announced the tokens will be distributed on Sept. 26.

With respect to airdrops, Buterin says that part of their appeal is the idea of offering discounted token sales as an alternative to traditional airdrops. In this model, community members could purchase tokens at reduced rates based on their level of contribution or verified membership, a key tool used by many airdrops.

In response, Capilnean emphasized that Sybil attacks can severely undermine a project’s goals, which can target airdrops. In March 2023, a Sybil attack was used to target the Arbitrum airdrop. Such attacks lead to the misallocation of resources and can harm the project’s reputation and the value of its tokens. 

To mitigate these risks, Capilnean supported Buterin’s view that blockchain-based identity frameworks could be instrumental. 

“By refining these systems, blockchain-based identity solutions can be used to effectively prevent bad actors from gaining an advantage.”

Titus Capilnean, Vice President of Go-To-Market at Civic, talking on blockchain-based identity platforms.

Projects could ensure that token distributions are targeted and secure if they implement this practice, reducing the likelihood of exploitation. In turn, these airdrops could serve as testing grounds for these frameworks.

Despite the advantages, Capilnean cautions that integrating identity solutions into airdrop processes could add some complexity. Projects, especially in their early stages, may struggle with the technical challenges of effectively deploying these systems. 

“By leveraging those frameworks, we can transform airdrops from a risky venture to its original purpose- a strategic tool for community-building and project growth.”

Titus Capilnean, Vice President of Go-To-Market at Civic, added.

Nonetheless, the industry expert remains hopeful that blockchain-based identity systems can turn airdrops from a risky endeavor into a valuable tool for fostering community growth.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News