Vitalik Buterin, co-founder of the world’s largest altcoin Ethereum, made a harsh statement against the claims that he was “selling ETH” for a long time.
Responding to the message “we’ll be fine if you just stop selling” under a post he published about the future of Ethereum, Buterin said that he had not sold a single ETH in the last month and even said that the ETH assets in his wallets had increased.
He was then asked about the sales made by the Ethereum Foundation. The ETH Foundation has been talked about recently with its large coin sales. Buterin said that the ETH Foundation pays its researchers and that this is important in the development of ETH. He listed the features provided and made possible by the payments made by the Ethereum Foundation as follows:
- Ethereum’s Proof of Work system prevents inflation of 5 million ETH per year
- Low transaction fees
- Transactions are completed in less than 30 seconds instead of 1 to 30 minutes
- Zk Tech feature that allows the secret use of ETH
- Account abstraction technology that will allow people to use ETH securely without seed phrases or central points of failure like SBF
- Local ETH events around the world, including those where the foundation’s name is barely mentioned
- ETH has had zero downtime due to DoS attacks and consensus errors since 2016
- Various security efforts (internal development and grants) that prevented many funding losses
- Libraries in any code you use (wallets, defi applications…)
*This is not investment advice.
