Ethereum Developers Accused of Neglecting Mainnet Updates
A developer known as Foobar has criticized Ethereum’s developers, accusing them of neglecting important improvements for the mainnet. According to Foobar, core and client developers have been blocking major upgrades, leading to delays in implementing features like Trie State Storage Optimizations (TSTORE) and Externally Owned Account (EOA) batch transactions. Additionally, there has been no increase in block gas limit since 2021. This lack of updates and opcode improvements has resulted in high fees and limitations for decentralized apps (dApps) on Ethereum, causing significant value loss.
As a result of these limitations, many projects are migrating to layer-2 solutions like Base, Arbitrum, Optimism, or alternative blockchains such as Solana and Avalanche.
Meme Coins Embrace Alternative Protocols
In mid-February 2024, meme coin developers started deploying their projects on high throughput and low-fee platforms like Solana, Avalanche, and Base due to the popularity of these emerging protocols. Examples of meme coins that have made this shift include Bonk, Honk, and Bald on Base. Meanwhile, meme coin projects on Ethereum are losing market share as they face competition from platforms like Shiba Inu’s Shibarium, which offers lower transaction fees.
Foobar believes that the lack of improvements on the Ethereum mainnet may be why Uniswap v4 has not yet been launched. The upcoming version of the popular decentralized exchange (DEX), which is expected to introduce new features like Hooks for increased flexibility, is eagerly awaited by supporters.
Hot Take: Ethereum’s Delayed Upgrades Drive Project Migration
Ethereum’s failure to prioritize crucial mainnet updates has led to frustration among developers and project teams. This neglect has resulted in high fees and limitations for dApps on Ethereum, forcing many projects to explore alternative protocols that offer better scalability and features. Meme coin issuers, in particular, have found solace in platforms like Solana and Avalanche, where they can deploy their projects with higher throughput and lower fees. The slow progress on the Ethereum mainnet has also affected the release of highly anticipated projects like Uniswap v4, leaving supporters eagerly awaiting new features that could enhance the decentralized exchange experience.
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