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Ethereum cofounder and its public leader Vitalik Buterin has taken to his X account to address the ETH community on an important Ethereum layer-1 issue, recalling the initial whitepaper of this brainchild issued in 2013. In it, Ethereum layer 1 was touted as a decentralized and a permissionless ledger.
BlackRock prefers Ethereum over other top altcoins
With that statement, he reacted to a post by another Ethereum cofounder, Joseph Lubin, supporting him on the importance of the Ethereum layer-1 topic.
Lubin, in his turn, reacted to a tweet that contains data about BlackRock betting on Ethereum more than on other popular altcoins, including those that build layer-2 networks on Ethereum.
A screenshot shows the holdings of BlackRock’s $3 billion tokenized crypto fund, which contains $2.6 billion worth of Ethereum. Meanwhile, such chains as Aptos, Avalanche, Optimus, Solana, Polygon, etc., are represented with between $18 million and $53 million.
Also, on June 19, BlackRock’s iShares Ethereum Trust scooped up an impressive 6,053 ETH worth $15,476,427.
Buterin and Lubin stand by Ethereum L1
Praising Ethereum L1 versus layer-2 blockchains, Lubin stated that it will be “the master ledger for the world.” He reminded the crypto community that it can be inspected permissionessly at any time, and anyone can use it, add data or functionality to it.
He enumerated other virtues of it: “Credibly neutral. Censorship resistant. Tamper resistant and tamper evident (via slashing and transparency). Incessantly progressively decentralizing itself.”
Lubin added that it also has a “best-class giant community,” which is hyper vigilant, patient, boasting that “well resourced actors working to subvert the system.” However, Lubin concluded, “This will get harder and harder as Ethereum grows and matures.”
Vitalik Buterin supported his tweet with a single sentence: “Ethereum L1 is the world ledger.”
Dan Burgin
Vladislav Sopov
U.Today Editorial Team