Paradigm believes that Ethereum can achieve faster innovation without undermining its core values.
To fulfill Ethereum’s ambitious roadmap, Paradigm encourages developers to accelerate protocol updates.
The crypto VC firm Paradigm believes that Ethereum can remain responsive to market changes by implementing more protocol updates while maintaining its core values.
“We think Ethereum’s core protocol could be improving much faster,” Paradigm said in a Jan. 25 blog post. “There are many high-impact improvements that Ethereum can start accelerating towards today without sacrificing its values.”
“Historically, Ethereum has shipped about one change per year. Ethereum can do more,” it added.
The debate over Ethereum’s focus—whether on its base layer, layer 2 technologies, decentralization, or efficiency—is “tempting” to join, Paradigm admits.
The firm cautions that premature discussions about value tradeoffs could cause Ethereum to become overly rigid.
“Ethereum has the resources it needs — incredible researchers and engineers eager to build the future,” it added
“Empowering them with a mandate to move faster, and in parallel, will enable Ethereum to solve problems faster and avoid getting bogged down in premature debates.”
Ethereum prioritizes decentralization, openness, and credible neutrality as its core values.
Paradigm believes that to drive innovation and achieve Ethereum’s ambitious roadmap, more protocol updates are essential. They argue developers should not sacrifice speed for client diversity, leading to the creation of the Ethereum testnet, Reth, for innovation testing.
Paradigm also advocates for Ethereum layer 2s to enhance security by leveraging the base layer through “native” rollups, a suggestion widely endorsed by layer 2 leaders on the same day.
The VC firm envisions Ethereum’s mainnet scaling without altering the block gas limit and calls for advancements in wallet infrastructure to enhance the user experience. A key improvement would be eliminating the need for users to remember their private keys.
In support of Ethereum’s decentralized finance ecosystem, the Ethereum Foundation has pledged to allocate 50,000 Ether, or $160 million.
Three days ago, Buterin announced the nonprofit would make organizational changes to bolster support for developers and improve transparency with the community.
In another article, the Ethereum cofounder published a blog explaining how the L1 can maintain its value as layer two solutions continue to grow. Like Paradigm, Vitalik stressed the need for the Ethereum community to accelerate its scaling efforts.
Vitalik stated that “Ethereum has matured as a technology stack and a social ecosystem, bringing us closer to a more free and open future where hundreds of millions of people can benefit from crypto assets and decentralized applications.”. However, he said, “there is a lot of work to do, and now is the time to double down.”
