{"id":81994,"date":"2018-09-09T17:40:24","date_gmt":"2018-09-10T00:40:24","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=81994"},"modified":"2026-04-26T14:07:45","modified_gmt":"2026-04-26T13:07:45","slug":"vitalik-buterin-proclaims-an-end-to-explosive-growth-as-eth-values-plummet-how-will-ethereum-recover","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/vitalik-buterin-proclaims-an-end-to-explosive-growth-as-eth-values-plummet-how-will-ethereum-recover\/","title":{"rendered":"Vitalik Buterin Proclaims an End to Explosive Growth as ETH Values Plummet: How Will Ethereum Recover?"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a> prices have plummeted over the last week, experiencing a drop in value of over 30% amidst a bloodbath that has shaved $50 billion off the cumulative cryptocurrency market cap. With ETH prices hovering around the $200 mark, Ethereum co-founder Vitalik Buterin announced the end of the age explosive growth within the cryptocurrency industry.<\/p>\n<figure id=\"attachment_46513\" aria-describedby=\"caption-attachment-46513\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-46513\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/vitalik-alts-social-300x158.jpg\" alt=\"Altcoins Igniting But Ethereum Founder Isn\u2019t Ready for Liftoff\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/vitalik-alts-social-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/vitalik-alts-social-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/vitalik-alts-social-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/04\/vitalik-alts-social.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-46513\" class=\"wp-caption-text\">Related:\u00a0<a href=\"https:\/\/cryptoslate.com\/altcoins-igniting-but-vitalik-isnt-ready-for-liftoff\/\">Altcoins Igniting But Ethereum Founder Isn\u2019t Ready for Liftoff<\/a><\/figcaption><\/figure>\n<p>Buterin\u2019s statements, released to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-09-08\/crypto-growth-nears-ceiling-ethereum-co-founder-buterin-says?utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-twitter-business&utm_content=business&utm_source=twitter\">Bloomberg<\/a> earlier this week at a Hong Kong blockchain conference, reinforce the Ethereum founder\u2019s technologist perspective on the cryptocurrency market \u2014 Buterin has <a href=\"https:\/\/cryptoslate.com\/altcoins-igniting-but-vitalik-isnt-ready-for-liftoff\/\">previously emphasized<\/a> the negative impact of rampant speculation on the blockchain ecosystem.<\/p>\n<p>Buterin remarked:<\/p>\n<blockquote><p>\u201cIf you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn\u2019t an opportunity for yet another 1,000-times growth in anything in the space anymore. That strategy is getting close to hitting a dead end.\u201d<\/p><\/blockquote>\n<h2>Blockchain Industry Growth Headed Toward \u2018Dead End\u2019<\/h2>\n<p>The blockchain space, states Buterin, is reaching a point where there\u2019s a ceiling in sight as the average educated person has \u201cprobably heard of blockchain at least once.\u201d Buterin isn\u2019t wrong about the rapidly increasing level of international blockchain awareness \u2014 <a href=\"https:\/\/cryptoslate.com\/crypto-adoption-frenzy-more-than-half-of-americans-familiar-with-bitcoin-litecoin-and-ethereum\/\">recent statistics<\/a> released by the American Institute of Certified Public Accountants (AICPA) reveal that more than 50 percent of all Americans are aware of cryptocurrencies.<\/p>\n<p>As consumer awareness of blockchain technology and cryptocurrency reaches a saturation point, argues the Ethereum co-founder, the possibility of capturing an opportunity for 1,000-times growth in \u201canything in the space\u201d is virtually nonexistent.<\/p>\n<figure id=\"attachment_74894\" aria-describedby=\"caption-attachment-74894\" style=\"width: 300px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-74894\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/08\/crypto-adoption-frenzy-social-300x158.jpg\" alt=\"\" width=\"300\" height=\"158\" \/><figcaption id=\"caption-attachment-74894\" class=\"wp-caption-text\">Related:\u00a0<a href=\"https:\/\/cryptoslate.com\/crypto-adoption-frenzy-more-than-half-of-americans-familiar-with-bitcoin-litecoin-and-ethereum\/\">Crypto Adoption Frenzy: More Than Half of Americans Familiar with Bitcoin, Litecoin and Ethereum<\/a><\/figcaption><\/figure>\n<p>Buterin highlights the factors driving growth within the cryptocurrency industry \u2014 the blockchain ecosystem has largely relied on market efforts focused on boosting widespread adoption and awareness. With consumer awareness now at an all-time high, the current blockchain growth strategy is \u201cgetting close to hitting a dead end.\u201d<\/p>\n<p>Buterin\u2019s statements have exacerbated a sharp and sudden drop in Ethereum prices, with ETH breaking the $200 floor to $188 on Sunday, a low not seen since July 2017. Investor confidence has been shaken further by concerns of a potential \u201cICO dump\u201d that would see hundreds of millions of dollars worth of ETH flood the market as initial coin offerings liquidate large sums of Ethereum in an attempt to minimize losses.<\/p>\n<p>The future of Ethereum, states Buterin, depends not on marketing efforts geared toward further adoption but instead depends on focusing on generating interest in the real-world applications and economic benefits of blockchain technology.<\/p>\n<h2>Ethereum Isn\u2019t Ready for Real-World Applications at Scale<\/h2>\n<p>Blockchain technology may promise to decentralize virtually everything and provide consumers with the tangible economic benefits that Buterin states will drive interest in the blockchain industry \u2014 but the Ethereum project is not yet at a stage of development at which it is able to support large-scale consumer interest.<\/p>\n<p>The primary obstacle faced by the Ethereum project is scalability. There are already hundreds of decentralized applications that are able to present a strong use case and a functional proof of concept, but the Ethereum network, touted as the go-to platform for dApps, is currently unable to support dApp use at scale.<\/p>\n<figure id=\"attachment_65254\" aria-describedby=\"caption-attachment-65254\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-65254\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/ethereum-congestion-social-300x158.jpg\" alt=\"MyCrypto Condemns Chinese Exchange For Spamming and Congesting Ethereum\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/ethereum-congestion-social-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/ethereum-congestion-social-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/ethereum-congestion-social-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/ethereum-congestion-social.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-65254\" class=\"wp-caption-text\">Related:\u00a0<a href=\"https:\/\/cryptoslate.com\/mycrypto-condemns-chinese-exchange-for-spamming-and-congesting-ethereum\/\">MyCrypto Condemns Chinese Exchange For Spamming and Congesting Ethereum<\/a><\/figcaption><\/figure>\n<p>Earlier this year, the Ethereum network was severely handicapped by the actions of a <a href=\"https:\/\/cryptoslate.com\/mycrypto-condemns-chinese-exchange-for-spamming-and-congesting-ethereum\/\">single cryptocurrency exchange<\/a>. Creating a network that is able to support the same level of use as Uber, for example, would require a significant upgrade to current Ethereum technology.<\/p>\n<p>With Uber boasting over <a href=\"https:\/\/www.recode.net\/2018\/1\/5\/16854714\/uber-four-billion-rides-coo-barney-harford-2018-cut-costs-customer-service\">4 billion<\/a> rides booked per year, any dApp aiming to compete on the Ethereum blockchain would require a transaction throughput far higher than what Ethereum currently offers.<\/p>\n<h2>Where Does Ethereum Go From Here?<\/h2>\n<p>The future of Ethereum scalability, however, looks bright. The <a href=\"https:\/\/cryptoslate.com\/rocket-pool-reveals-roadmap-for-ethereum-2-0\/\">Ethereum 2.0 Roadmap<\/a>, recently revealed by Rocketpool, features second-layer scaling solutions and a Proof of Stake consensus mechanism that is set to significantly improve Ethereum transaction throughput speed.<\/p>\n<figure id=\"attachment_81763\" aria-describedby=\"caption-attachment-81763\" style=\"width: 300px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-81763\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/09\/rocket-pool-roadmap-eth-social-300x158.jpg\" alt=\"\" width=\"300\" height=\"158\" \/><figcaption id=\"caption-attachment-81763\" class=\"wp-caption-text\">Related:\u00a0<a href=\"https:\/\/cryptoslate.com\/rocket-pool-reveals-roadmap-for-ethereum-2-0\/\">Rocket Pool Reveals Roadmap for Ethereum 2.0<\/a><\/figcaption><\/figure>\n<p>Ethereum co-founder Joseph Lubin, speaking at Asian tech conference Rise on July 10, highlighted the scalability impact of the Ethereum 2.0 scaling solutions \u2014 once implemented, Ethereum\u2019s Plasma and Sharding scalability solutions will deliver hundreds of thousands of transactions.<\/p>\n<p>While Ethereum may not currently be able to support widespread adoption in the way Buterin envisages it, the technological foundation upon which the future of Ethereum will be built is being developed at a rapid rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum prices have plummeted over the last week, experiencing a drop in value of over 30% amidst a bloodbath that has shaved $50 billion off the cumulative cryptocurrency market cap. With ETH prices hovering around the $200 mark, Ethereum co-founder Vitalik Buterin announced the end of the age explosive growth within the cryptocurrency industry. Buterin\u2019s [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":82006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,61713,15323],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vitalik Buterin Proclaims an End to Explosive Growth as ETH Values Plummet: How Will Ethereum Recover?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/vitalik-buterin-proclaims-an-end-to-explosive-growth-as-eth-values-plummet-how-will-ethereum-recover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vitalik Buterin Proclaims an End to Explosive Growth as ETH Values Plummet: How Will Ethereum Recover?\" \/>\n<meta property=\"og:description\" content=\"Ethereum prices have plummeted over the last week, experiencing a drop in value of over 30% amidst a bloodbath that has shaved $50 billion off the cumulative cryptocurrency market cap. 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