BEARISH 📉 : Vitalik Buterin Criticizes Lack of Innovation in EVM Chains

Vitalik Buterin Criticizes EVM Chain Redundancy

Ethereum co-founder Vitalik Buterin criticized the current trend of launching similar EVM-based Layer-2 networks.
He highlighted the need for innovation beyond creating another EVM chain with optimistic bridges to Ethereum.
Comparing the situation to early DeFi governance, Buterin noted that repetitive protocol forks stifle innovation.
Buterin emphasized the importance of meaningful connections to Ethereum rather than standalone Layer-1 networks.
He mentioned Ethereum's base layer is scaling and will support a wide range of applications without needing additional chains.

Emphasizing Innovation in Blockchain Development

Buterin urged developers to focus on novel capabilities like privacy-preserving architectures and application-specific optimizations.
He criticized projects using superficial links to Ethereum for marketing purposes without substantial integration.
Raised concerns about decision-making within Ethereum, advocating for structured governance processes.
Buterin collaborates with Ethereum "OGs" on a $220 million security fund initiative, repurposing assets from the 2016 TheDAO hack.