Ethereum might see some big changes soon. Vitalik Buterin, its co-founder, has suggested some new ways to measure how well projects fit with Ethereum’s goals, and we’re excited!
These new ETH metrics aim to unite the Ethereum ecosystem, which could solve one of the blockchain’s biggest social issues.
Let’s dive right in and explore what Buterin had to say on this topic.
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Source: CryptoSlate
Buterin’s Plan for a United Ethereum
Buterin wrote about his ideas in a blog post. He wants Ethereum-based projects to follow the network’s main values, which makes perfect sense. The new metrics will check how well projects perform this task. They’ll look at things like following standards and providing the much-needed security.
How Projects Will Be Judged
The new metrics will look at:
If projects follow ERC standards
How well they work without their creators (the “walkaway” test)
How safe they are from insider attacks
How much they help the Ethereum community and society
These checks should make Ethereum projects work better together. They should also make everything safer and more open.
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What the Community Thinks
Many people like Buterin’s ideas, and they might be right to do so. That said, there are some have worries too, as this would be a very big change. Ryan Berckmans, an Ethereum developer, says too much marketing could cause some problems. He thinks it might divide the community, which could be devastating for the asset.
The Problem of Relying on One Person
One big issue is that Ethereum depends greatly on Buterin, which can go either way. Charles Hoskinson, who helped create Ethereum and now runs Cardano, says Buterin has a lot of power over Ethereum’s future plans.
How This Could Change Ethereum’s Future
These new metrics could change how Ethereum grows in the near future. They might help projects work better together, but it will depend how well it is implemented. If all goes well, this could make Ethereum stronger than other blockchains. The question remains: Will Buterin’s plan work? Only time will tell!
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While people talk about these new ideas, ETH’s price keeps changing. Some projections show that it might reach $2,800.07 by October 30, 2024. By 2025, it could go up to $4,988.01. We’re here to see what Buterin’s plan will look like, and will keep you informed!