"For more than a decade now, Ethereum has offered the tantalizing promise of a global computer, available to anyone, that can be used to create decentralized alternatives to Big Tech's data-gobbling monopolies. The blockchain popularized smart contracts, and has been a springboard for thousands of projects backed by billions of dollars. It has also spawned legions of mostly fly-by-night imitators."
"Despite all of this, the promise of Ethereum always seems just over the horizon. In recent years, the blockchain has come to resemble that can't-miss sports prospect who can't quite hack it in the big leagues. Instead of evolving into a popular global computer, Ethereum still feels like a sub-culture where cliques of insiders build esoteric applications for each other. In response, many in the crypto world started betting on other horses like Solana that promised to deliver practical results."
"Ethereum's problem, ironically, has been its idealism. The blockchain has a core community that believes passionately in decentralization, and is mistrustful of anything resembling formal authority. That includes Buterin, who stepped back from his creation several years ago, preferring to let Ethereum find its own path forward. All of this is admirable, especially in contrast to many recent arrivals on the crypto scene, whose first and only concern is to make a buck."
Vitalik Buterin called for Ethereum to deliver on its goal of building a 'world computer' serving as central infrastructure for a freer, more open internet. For more than a decade Ethereum offered a global, permissionless platform that popularized smart contracts and enabled thousands of projects backed by billions. The network struggled to scale, producing congestion and high gas fees that limited mainstream adoption. A core community's insistence on decentralization and mistrust of formal authority slowed decision-making. Competitors promising practicality, such as Solana, attracted attention while layer-2 rollups absorbed much activity after on-chain fixes lagged.
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