Ethereum Co-Founder Leaves Fenbushi Capital to fully concentrate on the development of Ethereum development. However, he still will be advising on the project.
17 January, AtoZForex – The co-founder of Ethereum, Vitalik Buterin, has reportedly left China-based venture capital firm Fenbushi Capital. Now, Mr. Buterin is planning to concentrate on the development of his creation, Ethereum.
Ethereum Co-Founder Leaves Fenbushi Capital
Buterin has stated that he has decided to step down from his position as a general partner of Fenbushi Capital. The company has shown itself as one of the most active investors in the Blockchain and cryptocurrency industry. Buterin has noted that he will not be a full-time partner of the firm. Yet, he wished to remain within the firm as an advisor.
Additionally, Mr. Buterin has stressed the decreased practical usability of the Blockchain due to the rising transaction fees and scalability issues. Nevertheless, he noted the obvious uptrend in cryptocurrency market users and valuation.
Ethereum Network Scalability Issues
In order to meet the growing demand for Ethereum, Buterin planned to focus on the development of the Ethereum blockchain network. He has stated that people nowadays have high expectations from the global Ethereum community. In addition, Buterin plans to look into ways of solving scalability issues in order to provide a better ecosystem for the decentralized apps.
He has stated:
“I expect 2018, at least within the Ethereum space that I’m best able to speak about, will be the year of action. It will be the year where all of the ideas around scalability, Plasma, proof-of-stake, and privacy that we have painstakingly worked on and refined over the last four years are finally going to turn into real, live working code that you can play around in a highly mature form in some cases on testnets, and in some key cases even on the public mainnet.”
Buterin’s remarks have appeared following the numerous comments including that of Joey Krug stating that there is a lack of developers working on scaling solutions for the Ethereum network. The increase n popularity of successful decentralized apps has stagnated the Ethereum network.
Think we missed something? Let us know in the comments section below.