- Vitalik Buterin criticizes the imbalance in blockchain infrastructure investments.
- Buterin and developer Sohey emphasize the need for more open-source infrastructure.
- Community members agree that focusing on open-source development is crucial for the ecosystem’s long-term growth.
In a recent Warpcast post, Ethereum founder Vitalik Buterin shared his frank assessment of infrastructure investments in the cryptocurrency space. Buterin argued that while certain types of infrastructure are overfunded, others, more vital to the ecosystem, are underfunded.
According to Buterin, this imbalance stems from investors’ preference for projects that offer a chance to profit from the “casino”-like aspects of the crypto market rather than focusing on investments that benefit the ecosystem holistically.
He believes investors are trying to have it both ways by seeking to profit from speculative projects while still feeling virtuous about investing in infrastructure that benefits from the casino economy. In his own words:
“People want to invest in ‘the casino’ but still feel good about themselves. So they invest in the subset of infrastructure that gets spillover profits from the casino.”
Pro-Ethereum developer Sohey echoed Buterin’s sentiments, highlighting the need for increased investment in open-source infrastructure. Sohey noted that the open-source community is still relatively small and needs nurturing to foster innovation. Buterin responded in agreement, stating that any infrastructure that is not open-source is ultimately harmful to the ecosystem.
The crypto community has largely rallied behind Buterin’s perspective, with many commenters expressing agreement and offering additional insights. One commenter noted that more investment is needed in infrastructure to make it easier for developers to get started and for users to adopt, thereby reducing the need for duplicate projects.
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