The Need to Revive the Cypherpunk Revolution in Ethereum
The co-founder of Ethereum, Vitalik Buterin, has published a blog post titled “Make Ethereum Cypherpunk Again,” outlining ways to enhance the network. Buterin believes that Ethereum has deviated from its original purpose as a decentralized, shared hard drive towards financialization. To bring back the cypherpunk ideals, Buterin highlights the importance of decentralization, open participation, resistance to censorship, and trustworthy neutrality.
Buterin acknowledges the positive developments in the industry, such as decentralized exchanges (DEX) like Cowswap and tools like Flashbots Protect and MEV Blocker that protect users from attacks. However, he emphasizes that Ethereum still faces vulnerabilities and challenges in terms of on-chain trading exploitation and smart contract hacks.
Positive Reactions and Token Proposal
Vitalik’s plans have garnered support from some users, particularly regarding cryptocurrency payments for retail clients. However, they note that this issue has received little attention thus far. One user even compares Vitalik’s statement to former U.S. President Donald Trump’s election campaign and suggests creating a token called MEGA (Make Ethereum Great Again) to support Ethereum.
Additionally, an influencer named Ignas jokingly suggests that Tron founder Justin Sun has already claimed the title of the most decentralized ecosystem. Ignas posts a photo of Buterin alongside a poster featuring Sun.
Ethereum as the Base Layer of an Open Internet Stack
According to Buterin, the early vision of “web3” sees Ethereum as a foundational layer for a more open internet stack. This vision encompasses a different way of thinking about what Ethereum can be—a collection of technologies that enable a new internet paradigm.
Hot Take: Reviving Ethereum’s Cypherpunk Roots
Vitalik Buterin’s call to “Make Ethereum Cypherpunk Again” highlights the need to bring back the original ideals of decentralization, open participation, resistance to censorship, and trustworthy neutrality. While Ethereum has made progress in areas like decentralized exchanges and security tools, vulnerabilities still exist. Users have shown support for revitalizing the cypherpunk vision and have even proposed creating a token called MEGA to support Ethereum. Ultimately, Ethereum aims to be the foundational layer for a more open internet stack, redefining how we perceive and interact with the internet.
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