Determining feelings about his invention consumes Ethereum developer Vitalik Buterin. His invention became the hub of DeFi, NFTs, and DAOs.
The situation calls for the creator of the second-largest cryptocurrency in the world to brag about its achievements. But Buterin is different.
10 inconsistencies with his own values
In yesterday’s Twitter thread, Buterin outlines 10 inconsistencies in his ideals that he is considering, most directly or indirectly related to what Web3 and Ethereum should be.
For one thing, Buterin confesses that he often sides with “intellectual elites” above the common folk. Although, he supports the decentralization ideal.
He’s also split on the direction that such decentralized ecosystem actors are taking Ethereum.
“Contradiction between my desire to see Ethereum become an L1 [a layer-1 network] that can survive truly extreme circumstances and my realization that many key apps on Ethereum already rely on far more fragile security assumptions than anything we consider acceptable in Ethereum protocol design,” Ethereum developer Vitalik Buterin tweeted.
In other words, he is concerned that the secure blockchain is being abused.
Things he “doesn’t value”
Frequently, the “important applications” on the network are for things he doesn’t value, such as “$3M monkeys,” a reference to Bored Apes and other profile image NFTs that are abundant in Ethereum markets.
According to DappRadar, the most popular Ethereum application over the previous 30 days was OpenSea, with more than 360,000 members under a $2.3B trading volume.
Buterin said last year that NFTs were the use case that astonished him the most. However, in March, he clarified that he did not “hate apes”. But he was advocating supporting public goods over NFT market speculation.
Buterin claims that he must accept the good with the bad. He states that it is what keeps the crypto economy alive. Furthermore, it pays for all his most favorable DAO and governance experiments.