Ethereum co-founder Vitalik Buterin is constantly searching for strategies to improve the network. This time, he talks about “balancing,” which involves integration, decentralization and cooperation.
Here comes Ethereum alignment
Buterin described balancing as one of the most important social challenges in the Ethereum ecosystem. Ethereum prides itself on having a wide array of people and organizations in its ecosystem, building toward its vision of what the network can be. At the same time, it does not intend to have them build different versions of Ethereum but a single ecosystem.
This brought about the “Ethereum Alignment” concept, which encompasses making ETH open source, minimizing centralization, supporting public goods and being used as a token when possible. However, the concept was poorly defined and underutilized as a result.
Vitalik Buterin’s recent argument is that “the concept of alignment should be made more legible, decomposed into specific properties, which specific metrics can represent.” These metrics include open standards, open source, positive-sum, decentralization and security. The positive sum applies to the Ethereum blockchain and the broader world.
In the long run, the network would check for projects aligning with the listed metrics and criteria and others coming up shortly.
Activities in Ethereum ecosystem
In related ecosystem news, Buterin expressed growing concerns about Ethereum’s security. He highlighted some overlooked vulnerabilities that could pose a big threat, even though the current staking mechanisms can be called robust. The blockchain visionary declared that the Ethereum network is still vulnerable to a 67% capture attack.
Amid this fear, otherwise, activities in the ecosystem look good, including the network fees that IntoTheBlock pointed out. According to the leading market intelligence platform, Ethereum’s network fees have reached the highest since early June of this year. The fees skyrocketed 188.51% this week, at around $45.2 million.
Read the full article here
