Paradigm, a leading crypto venture capital and research firm, has called for Ethereum to speed up its update cycle. The firm believes the network’s current pace of one annual update limits its ability to innovate and remain competitive.
In a detailed post, Paradigm co-founder Matt Huang, alongside CTO Georgios Konstantopoulos and general partners Dan Robinson and Charlie Noyes, emphasized the need for more frequent upgrades. They believe this shift would help Ethereum adapt to market changes and technological advancements without compromising its core values.
Paradigm Calls for Faster Ethereum Updates
Paradigm highlighted two primary barriers to Ethereum’s progress: inertia and ossification. The firm explained that ossification or the deliberate slowing of core protocol changes to preserve decentralization, poses risks to Ethereum’s competitiveness and governance structure.
According to Paradigm, slow updates prevent Ethereum from keeping pace with user demands and emerging market trends. They also believe ossification could lead to centralization risks, as it might drive users and developers toward alternative, more centralized platforms.
Still, Paradigm believes Ethereum can make much faster progress without compromising its values. The network, according to the firm, has untapped potential and should channel its resources into noncontroversial improvements that can yield significant results.
These include scaling solutions for Layer-2, optimizing Layer-1 without overburdening nodes, and enhancing wallet user experience through account abstraction.
“Ethereum has the resources it needs — incredible researchers and engineers eager to build the future. 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,” the writers concluded.
Meanwhile, the call for faster updates comes at a critical time for Ethereum, as it faces mounting pressure from competing platforms like Solana. Internal challenges, including leadership changes within the Ethereum Foundation and criticism of its strategic direction, have raised questions about the network’s ability to maintain its dominance.
Also, high-profile departures of developers like Eric Conner have added to the community’s concerns. Conner cited a loss of passion due to leadership struggles as his reason for leaving, further fueling debates about Ethereum’s trajectory.
Paradigm’s message highlights the need for Ethereum to strike a balance between preserving its core principles and advancing its innovation. They believe this approach is essential for the network to secure its position in the rapidly evolving blockchain landscape.
The post Paradigm Pushes Ethereum to Speed Up Progress Amid Rising Competition appeared first on BeInCrypto.