Amidst the recent criticism faced by Ethereum and the Ethereum Foundation, co-founder Vitalik Buterin emerged as the highest “Key Opinion Leader (KOL) influencer” on the X platform last week. This was due to his publication of an article regarding the Ethereum roadmap, in which he strongly refuted the criticisms against Ethereum.
Cryptocurrency program “The Rollup” host Andy, quoting Kaito AI data, pointed out that Vitalik Buterin, co-founder of Ethereum, has recently been in “battle mode” and has received the highest “KOL influencer” attention in the past seven days, reaching 1.69%. The second highest attention went to Mert Mumtaz, CEO of Helius Labs, with 1.18%.
Vitalik Buterin counters criticisms against the Ethereum Foundation
Recently, Ethereum and the Ethereum Foundation have faced a lot of criticism, and the performance of ETH has been mediocre this year. The market is dissatisfied with the Ethereum Foundation’s frequent selling of ETH. In response to this, Vitalik Buterin recently wrote a lengthy article on the X platform, defending the Ethereum Foundation’s regular sale of ETH.
Vitalik Buterin explained that the Ethereum Foundation uses these sales to pay developers and researchers working on Ethereum, in order to maintain the Proof of Stake (PoS) mechanism, enable transactions to be completed within 30 seconds with low transaction fees, and allow for privacy features with zero-knowledge proofs, while keeping the network running continuously since 2016.
When asked why the Ethereum Foundation does not use all of its ETH holdings for staking and cover expenses through staking rewards instead of directly selling ETH, Vitalik Buterin explained that the Ethereum Foundation wants to avoid being forced to make an “official choice” in the event of a contentious hard fork.
However, Vitalik Buterin stated that the Ethereum Foundation is exploring other ways to participate in staking, including providing grants with staked ETH. This would allow the grant recipients to control the withdrawal time and retain the rewards. He also mentioned considering delegating the staking responsibility of the Ethereum Foundation to other organizations.
With the recent spread of FUD (Fear, Uncertainty, and Doubt) sentiment regarding Ethereum, Vitalik Buterin has been speaking out more frequently on the X platform. He has been publishing Ethereum’s technical roadmap outlook, sharing his insights and recommendations for the Merge, Surge, Scourge, Verge, and Purge stages, which may have an impact on the future of Ethereum.