Bitcoin developer Jimmy Song recently questioned the conclusion of Vitalik Buterin. Vitalik Buterin said that in order to launch a series of upgrades related to Ethereum 2.0, the project achieved the necessary “research breakthroughs”.
The Ethereum Foundation, a non-profit organization dedicated to supporting Ethereum, announced a new plan this week on how to allocate $30 million to support the Ethereum ecosystem.
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“Can money buy a scientific breakthrough?”
When forwarding this report on Twitter, well-known bitcoin analyst Tuur Demeester commented:
“Can money buy a scientific breakthrough? We will know the answer right away.”
Buterin replied to Demeester's comments, saying that he has conducted sufficient research to successfully transition from Ethereum's current PoW consensus model to PoS. He also mentioned that Ethereum developers have drafted detailed specifications for the upcoming Ethereum 2.0 upgrade.
“We already have all the research breakthroughs required to deploy Ethereum 2.0. This state has been going on for about a year.”
Five years of research has not been honored
However, bitcoin developer Song pointed out that in the past five years, Ethereum developers have been committed to innovation. In his view, it would be very challenging to deploy Ethereum research and specifications or turn it into code.
In May 2018, economist Dr. Nouriel Roubini (who was keen to criticize cryptocurrencies) also expressed a similar view to Song. He said that Ethereum would not be able to expand effectively, and systems based on distributed ledger technology (DLT) would eventually fail. .
Roubini made the remarks during a live debate with Ethereum co-founder Joseph Lubin. Previously, Roubini also accused Buterin of “pre-digging” a large number of Ethereum, which was considered a criminal act.
However, Buterin clarified that pre-excavation was not a crime, and that he held Ethereum never exceeded 1% of the total supply. He also revealed his cryptocurrency position and pointed out that he no longer holds 1% of Ethereum's circulating supply. In addition, he also confirmed that his net worth has never been as close to $1 billion as Roubini said.
Although the development of Ethereum has recently been questioned, a large number of dApps have been released on this smart contract platform. In fact, decentralized finance (DeFi) built on Ethereum's technology infrastructure has reached $500 million.
It must be said that the ecology of Ethereum is constantly growing and growing, but it remains to be seen whether its future promises to fulfill Ethereum 2.0.