News

Vitalik Buterin Admits ‘Fees Are A Huge Problem’ For Ethereum’s Usability

Ethereum co-founder Vitalik Buterin has acknowledged that high fees remain a significant challenge for the digital asset, posing a threat to the vision of creating a decentralized economy. 

Vitalik Buterin Admits ‘Fees Are A Huge Problem’ For Ethereum’s Usability

Speaking during an interview with Time magazine, Buterin noted that high fees are derailing Ethereum’s usability as the migration to the proof of stake (PoW) continues. 

“​​Fees are a huge problem for Ethereum’s usability, especially for things other than some of the financial applications that have dominated recently,” he said. 

Vitalik Buterin also expressed his frustration with the impact of high fees and how it’s affecting the implementation of critical projects

At the same time, he showed optimism that if sharding is carried out, the fees could come down. 

Vitalik Buterin Admits ‘Fees Are A Huge Problem’ For Ethereum’s Usability

“The main thing that prevents Ethereum from being used for cool stuff today is just the fees. It feels like a boring answer; there’s this big social problem in Ethereum and the biggest reason for it is one technical thing that hasn’t been done fast enough,” he added. 

Besides high fees, Buterin stated that the decentralized goal of the platform might be derailed by bad actors who are after personal gains.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

42 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

1 hour ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

3 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

3 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

5 hours ago

This website uses cookies.