The founder of Ethereum is not often open to interviews and has been as vocal on Twitter as he was in the past. Seeing the level of work going on with Ethereum developers to bring the goal of Ethereum 2.0 to life, it is understandable that the founder of the second most valued cryptocurrency by market cap is almost always on his toes. However, he has since broken his silence in a recent interview, where he answers some of the most asked questions about the network upgrade.
Having completed the EIP-1559 upgrade, Buterin is certain that there isn’t very much holding the network back, hinting that the network is only a few easy steps away from wrapping up the upgrade.
“We are on the finish line to the march. I think that the most important thing right now is that EIP-1559 is behind us. Like there is basically nothing else that is right in front of us that lots of people are putting their souls into and focusing on.”
He continues to say that the EIP-1559, in addition to correctly proving out the burn, and correctly proving that it manages to increase the user experience efficiency of sending transactions, proves to the world that the Ethereum ecosystem is not just “vaporware” and that it’s flexible enough to make big changes.
Speaking on the milestone achieved through the upgrade in terms of transaction ease, he said; “For me, it definitely feels like it’s much easier to send a transaction and get it acquitted in one block, and I don’t have to worry about adjusting gas fees anymore.”
With this stage being completed, Buterin asserts that the market sentiment, as he has observed in recent times, is more positive towards the highly anticipated merge, which many critics had already written off. Recall that Ethereum has been under fire for the hike in gas fees, as well as the many other scalability issues that forced users of the blockchain to seek out a new substitute. Indeed, there has been a positive change in the manner in which the market speaks of Ethereum, following its commendable price and network growth this year.
“Even as early as 2020, It was a common Bitcoin maximalist position that the merge will never happen.” He said. “Since then they’ve obviously moved on to other arguments and they’ve embraced that proof of stake will happen but it’s bad.”
In conclusion, Buterin reckons that he interprets the shift in the market’s view of Ethereum as a sign that definitely doing something right. He also acknowledged the level of impact that NFTs have had on the network, asserting that it is amazing to see that the NFT space is finally breaking out.
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