The Ethereum ecosystem is confronting significant internal turmoil as Polygon co-founder Sandeep Nailwal’s public frustrations and a core developer’s private revelations expose deep-seated governance issues. Ethereum co-founder Vitalik Buterin’s unexpected intervention praising Polygon’s Layer 2 contributions comes amid revelations of compensation disparities, leadership concerns, and what one developer describes as an irreversible ‘ruling elite’ structure. These developments highlight fundamental challenges facing the world’s second-largest blockchain protocol as it navigates competing visions and power dynamics.
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0 in Finance and 0 in Crypto last weekEthereum 2.0: Transition from PoW to PoS Explained
Ethereum 1.0, launched in 2015, initially used Proof-of-Work (PoW), similar to Bitcoin, but faced scalability challenges, as seen with the CryptoKitties congestion in 2017. To overcome these limitations, Ethereum 2.0 introduces Proof-of-Stake (PoS) via the Beacon Chain, reducing energy consumption and improving scalability. Validators stake 32 ETH to participate in block validation, with incentives ranging from 2.2% to 6%. The upgrade also includes sharding to further enhance transaction throughput. Slashing penalties deter malicious behavior, ensuring network security. Ethereum 2.0’s phased rollout marks a significant evolution in blockchain technology.
about Ethereum 2.0: Transition from PoW to PoS ExplainedEthereum Community Foundation Aims for $10K ETH
The Ethereum Community Foundation (ECF), launched by core developer Zak Cole, has announced its mission to push ETH’s price to $10,000 by funding ecosystem projects that prioritize ETH burn and scalability. Criticizing the Ethereum Foundation for neglecting ETH’s market value, Cole emphasized that the ECF will support immutable, tokenless projects aligned with Ethereum’s decentralization vision. The foundation’s first grant recipient, the Ethereum Validator Association (EVA), will influence monetary policy via Ethereum Improvement Proposals (EIPs). Cole also called out projects like Uniswap and Optimism for straying from Ethereum’s original vision and highlighted potential conflicts of interest, such as Offchain Labs’ ties to Prysmatic Labs.
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