Sunday, June 16, 2019

Vitalik Buterin: Negative Dispositions does not Slow Production by One Day

The past few months have not been positive for ethereum like it has been generally for the crypto community; however, co-founder and major developer Vitalik Buterin is reiterating that the negativity would do nothing to stop their earlier planned schedules, just as it has never done.

Is Ethereum in Trouble?

The crypto market has put on a generally positive mood of late, especially going by news from Bitcoin and its alternate, Bitcoin Cash. Bitcoin is enjoying and garnering all the attention as bulls await a new solid climb to break the $6000 resistance support.  Ethereum, however, is going through some turbulent times, and it is way deeper than its price fluctuations.

It began when the cryptocurrency developing team postponed its much-awaited Constantinople hard fork, a move many did not see coming. A month later, Ethereum (ETH) would record its lowest daily block rewards ever. A few decided to play it down like Mati Greenspan, claiming that the new low for block rewards was actually positive for Ethereum and would increase the demand for the cryptocurrency.

View image on Twitter


Mati Greenspan@MatiGreenspan

This is the chart that kind of started this whole rally.

New Ether coming online is less than 13,000 for the first time in history. Usually, it’s between 20k to 30k a day but has been declining lately due to the delay of #ConstantinopleHardFork.
Less supply + steady demand =

f anyone was swayed by Mati Greenspan’s argument, Afri’s departure from Ethereum barely a week later surely did not help matters, and it raised more questions that had earlier been buried. Afri was part of Ethereum’s core and major developer, and his departure from the community just a week before the scheduled Constantinople hard fork more than raised a few eyebrows. Afri, who was part of Ethereum’s major contributor on Reddit before his departure, has now left a strewn of unanswered questions and conversations on social media. Consequently, the mood has grown negative and questionable of recent and Buterin has finally lent his input into the situation.

Negative Buzz about Ethereum 2.0

A Reddit user of recent questioned the negative influence that Buterin’s Ethereum proposal was having on the community and the crypto coin. The negative impact is doing nothing to deter the developing team; however, according to Buterin.  

“The team is larger and broader than you think,” Buterin replied. “While I get frustrated with the antics of the “chattering classes” myself, it’s important to keep in mind that Prysmatic, lighthouse, the eth2 research team, etc. are all continuing work right on schedule, and the recent governance noises, while loud and annoying, did not delay the progress of eth2 by even a single day.”

The team is everything, and it is just about right that Buterin understands the importance of teamwork completely, amidst the negative buzz.

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