Paradigm, a crypto venture capital firm, has urged Ethereum developers to expedite protocol updates without compromising the blockchain's foundational principles.
Paradigm, a crypto venture capital firm, has urged Ethereum developers to expedite protocol updates without compromising the blockchain's foundational principles. In a blog post dated Jan. 25, the firm argued that Ethereum's current pace—averaging one major protocol change per year—could be significantly increased to align with its ambitious roadmap. According to Paradigm, Ethereum can adopt a faster approach to innovation while adhering to its core values of decentralization, openness, and neutrality.
The firm highlighted the importance of empowering Ethereum’s researchers and engineers to solve problems faster by avoiding prolonged debates over trade-offs like decentralization versus efficiency. While these discussions are vital, Paradigm warned that they could lead to unnecessary rigidity and could delay progress. It emphasized that accelerating protocol changes would allow Ethereum to maintain its leadership in blockchain technology.
Paradigm proposed specific measures to advance Ethereum’s development. It suggested that Ethereum layer-2 solutions inherit security from the mainnet through "native" rollups, an idea endorsed by several layer-2 executives on the same day. It also called for improving the scalability of Ethereum’s mainnet without increasing the block gas limit. Enhancing wallet infrastructure to simplify user experiences, including eliminating the need for private key management, was also cited as a priority.
In addition to Paradigm’s recommendations, the Ethereum Foundation announced it would allocate 50,000 Ether, valued at $160 million, to support Ethereum’s decentralized finance (DeFi) ecosystem. This funding announcement followed a statement from Ethereum co-founder Vitalik Buterin, who revealed that the Foundation would undergo organizational changes to increase transparency and provide more robust support to developers.
Paradigm emphasized that diversity in client development should not slow the delivery of new features. As an example of fostering innovation, the firm cited its Ethereum testnet Reth, which enables developers to experiment with new technologies. It argued that faster iteration is key to keeping Ethereum competitive in a rapidly evolving market.
The firm’s blog post expressed urgency, stating that Ethereum has the resources necessary to move forward at a faster pace. Paradigm’s call for action stressed that accelerating protocol changes is crucial for Ethereum to remain at the forefront of blockchain innovation and to meet the demands of an evolving market landscape.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
