Danny Ryan, a prominent researcher at the Ethereum Foundation, has announced his resignation after seven years of work within the Ethereum ecosystem. Ryan played a crucial role in Ethereum’s transition to a proof-of-stake consensus system during “The Merge,” marking the blockchain’s shift away from proof-of-work. Despite his departure, Ryan emphasized that his decision was based on personal reasons and not a critique of Ethereum or the broader cryptocurrency space. In a post shared on GitHub, Ryan explained that being a leader within Ethereum was an all-consuming experience, and he felt ready to make space for other opportunities.
Reflecting on his time at Ethereum, Ryan mentioned that he joined the project as “a random person from the internet” and quickly found a place where he could contribute meaningfully. He expressed confidence in the future direction of Ethereum’s development, noting that the team has a depth of experience and leadership across various teams. Despite some remaining work on the protocol, Ryan believes that the problems can be solved with time and effort. As the second-largest cryptocurrency by market capitalization, Ethereum’s native token, Ether, was trading at $2,416 as of September 13.
Ethereum co-founder Vitalik Buterin made a public announcement that starting next year, he will only endorse Layer 2 solutions that have progressed beyond their initial development stages. This decision aims to enhance the security and trustworthiness of the Ethereum ecosystem, particularly with various rollup projects at its core. Buterin emphasized the importance of moving away from rollups being “glorified multi-sigs” and towards a future of cryptographic trust with minimal human oversight. He stated that this policy would apply universally, regardless of personal investments or friendships.
Buterin highlighted the upcoming progress of several zero-knowledge rollup (ZK-rollup) teams that are expected to reach Stage 1 by the end of the year. This milestone is crucial for broader adoption and trust in Ethereum’s scaling solutions. However, Buterin cautioned against prematurely discarding protective measures before there is confidence in the security of the proof systems. Reports indicated that Buterin has sold 950 ETH, valued at approximately $2.28 million, since August 30. The sales were executed in smaller, strategic batches rather than large transactions, with the most recent sale involving 190 ETH converted to $441,971 in USDC.
Buterin’s decision to only endorse advanced Layer 2 solutions reflects his commitment to ensuring the security and reliability of Ethereum’s ecosystem. By prioritizing more developed solutions over early-stage mechanisms, he aims to foster greater trust among users and investors in the scalability of the platform. This approach signals a shift towards a future where cryptographic trust is paramount, reducing the need for human oversight and ensuring the long-term sustainability of Ethereum. As a key figure in the cryptocurrency space, Buterin’s endorsements carry significant weight and influence across the industry, shaping the development and adoption of blockchain technologies.
