In his latest blog, Ethereum co-founder and developer Vitalik Buterin has thrown a spotlight on Ethereum scaling while the network has struggled to show any significant traction in the past few months.
Vitalik emphasizes that all these layer 2 solutions should start using and embracing ETH to enhance its market value, essentially leading more attention to Ethereum. He calls for a broader blockchain economy combining L1 and L2 networks that collectively support Ethereum by using ETH as “primary collateral.”
To benefit Ethereum at the core, Vitalik asks layer 2 networks to allocate some portion of the total gas fees they collect in burning or staking permanently.
Vitalik also mentions increasing blob count and possibly generating revenue through it. Given that blob transactions are increasing significantly since the past few months, this move could play very well in favor of his strategy.
“If you take the average blob fee of the last 30 days, and suppose it stays the same (due to induced demand) while blob count increases to 128, Ethereum would burn 713,000 ETH per year,” Vitalik notes.
The blog post from the developer comes days after a debate on the Ethereum Foundation heats up as Vitalik decides to bring massive changes to the leadership team structure.
“Ethereum has matured as a technology stack and a social ecosystem, bringing us closer to a more free and open future where hundreds of millions of people can benefit from crypto assets and decentralized applications.” Vitalik says, “However, there is a lot of work to be done, and now is the time to double down.”
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