The young co-founder of the blockchain-based Ethereum platform has departed from Fenbushi Capital, a venture capital firm based China, citing the need to focus further on the progression of the platform.
The need for Focus on the Ethereum Platform
The co-founder mentioned that the reason that he had to part ways with the venture capital firm was due to the many demands that are present in the Ethereum economy.
Earlier, Vitalik took on the role of general partner at the financial institution, an institution that has been heavily involved in the cryptocurrency and Distributed Ledger or blockchain technology.
Vitalik may have realized that being spread too thin can cause a variety of problems and can cause overload and congestion, preventing the aspect of scaling issues that the platform is currently facing.
Vitalik will continue to be associated with the firm but will only take on the role of advisor instead of general partner. Buterin would be a strategic partner at any firm who he advises because of his stature in the community. The firm would have fewer problems with deal flow because they would be perceived as knowledgeable and full of expertise. Furthermore, potential investors in the ICO’s and other projects would also have further confidence in projects if Vitalik was associated in some manner. The reasoning for the investors would be, if Vitalik is affiliated, it has to be legitimate and have a future, thus, increasing confidence.
He has also found many issues that are present right now. He has wondered on Twitter if the current projects deserve the capitalizations that they are commanding in the marketplace. He wonders if they have truly earned it and if they are on par to meeting it. He wants to look further into improving the experience of the platform, to fix scaling and other issues that are plaguing the network.
As the world of decentralization is just getting started, there are a variety of fundamental issues that need to be addressed for its progress and live up to its potential.
These fundamental issues consist of privacy, speed, and supporting increasing demands.
The Year of Action
He has accurately commented that he expects this year to be one of action. This is undoubtedly true for Ethereum and the many Ethereum based projects. Ethereum is, of course, focused on scaling, as their blockchain is processing a significant amount of transactions. The Ethereum network is reportedly processing much more transactions than Bitcoin, with an excess of one million transactions that take place from day to day.
The year of 2018 must be one that brings all the ideas that have been floating in the in the ether, back to the earthly reality.
2018 has to be when various implementations are done to truly understand the progress that can be brought about in the initial phases of the blockchain era.
Ideas like Plasma, proof of stake, privacy and others that have been rigorously researched will finally be put to the test, maybe not on the mainnet but certainly on testnets.
Furthermore, it must be the year of action for the various projects that have done their initial coin offerings as well.
Many projects launched in 2017 and some a few years prior that need to be able to deliver what they have promised. These projects were able to raise funds and attract resources from human capital and more to bring their visions to fruition.