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Vitalik Buterin on Ethereum 2.0: More Users, More Valuable Software

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Fri, 01/31/2020 - 12:29
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Vladislav Sopov
Mostly, discussions about Ethereum (ETH) 2.0 touch on its block size, sharding design and transition methodology. But what does Vitalik think about ETH2's commercial use?
Vitalik Buterin on Ethereum 2.0: More Users, More Valuable Software
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The strategic balance between technological development and marketing efforts to promote a project remains a very sensitive challenge for both crypto behemoths and early stage teams. Crypto analyst @safetyth1rd thinks Ethereum (ETH) 2.0 should re-consider its marketing. Does Vitalik Buterin agree?

Ethereum progress is not known outside its community

A few days ago, an analyst started a thread in Twitter to outline his thesis about the 'under-marketed' Ethereum (ETH) 2.0. He is sure that Ethereum will deliever brilliant technological solutions, but awareness of its progress remains very low.

The story with Ethereum Layer-1 scalability solutions like optimistic rollups/zkrollups looks quite similar. They are progressing well but definitely lack the marketing promotional efforts.

Ethereum 2.0 may be under-marketed, analyst says
Image by: https://twitter.com/safetyth1rd/status/1221179267880574976

All, in all, the blockchain writer concluded: 'Great products do NOT sell themselves. People need to know about them first!'.

Vitalik Buterin: users bring value

Once the heated debate started in the thread, it was re-tweeted by Ethereum's father Vitalik Buterin. Surprisingly, he agreed with the critic of his strategy.

'A software project becomes 2x more valuable if 2x more potential users learn about it', that is how Mr. Buterin emphasized the importance of proper marketing efforts.

Ethereum (ETH) 2.0 is a Proof-of-Stake version of Ethereum mainnet which is to be rolled out in 2020. With Ethereum (ETH) 2.0 (also ETH2), the whole blockchain will operate as a network of interconnected shards. Ethereum mining will therefore be replaced by staking.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)