Ethereum’s core mission is to advance humanity, says Vitalik Buterin

Ethereum’s co-founder, Vitalik Buterin, has acknowledged that the network must ensure it never goes down. He shared his hopes for the network’s future as Ethereum celebrated its 10th anniversary since its launch on July 30, 2015.

During the anniversary livestream, Buterin recalled that the original plan was to create an open space for global developers. He said he wanted to develop a space where anyone could freely build applications and express their creativity.

Buterin believes Ethereum will continue to grow 

The Canadian computer programmer maintained that Ethereum’s core mission is to continue advancing human progress and safeguarding people’s digital autonomy. He believes that feat requires the network to remain online and never go down.

Buterin added that the network has to be programmable if it wants to be open to people building their own things on top of it. He reiterated that the core of Ethereum is enabling applications that continue to move humanity forward and improve our ability to cooperate. 

Ethereum supporter and Oxbow co-founder, Zak Cole, said that the network’s most incredible feature is that it refuses to go down. He highlighted that ETH has managed to go against all odds, through forks, failures, regulatory attacks, and civil wars. Cole added that the network was caught off guard by the DAO hack, DeFi summer, and the NFTs explosion, but they still managed to build through it.

Ethereum co-creator Joseph Lubin also said that Consensys has been instrumental in shaping the network’s infrastructure. The company revealed in its latest report that it has outlined an ambitious roadmap for Ethereum’s future.

Chief economist at Rice University, Mallesh Pai, believes that the network will transition from a smart contract platform to the base layer of the future global economy over the next 5-10 years. He mentioned in the report that the growth will be driven by the digitization of assets such as stablecoins. He added that assets migrating on-chain depend on both current contributors and a new generation of institutional and commercial builders.

GameSquare’s CEO, Justin Kenna, said the company invested in ETH because they believed it’s the most credible long-term virtual currency aligned with where the internet is headed. He added that the network is evolving into the financial backbone of the internet, powering global payments, entertainment IP, gaming economies, and digital identity.

“Over the next 10 years, every large enterprise will move on-chain, and most will vertically integrate into their own infrastructure on top of Ethereum.”

– Sam McIngvale, Head of Product at Optimism Labs.

Nemil Dalal, head of Coinbase, argued that Ethereum’s builder community will determine its long-term success in the next 10 years. He also sees the network transforming into the foundation for new use cases as the builders keep experimenting.

Corporate treasury firms signal Ethereum’s growing institutional adoption

The world’s second-largest cryptocurrency and blockchain network has seen an influx of corporations recognizing it as the next emerging treasury asset. BitMine Immersion Technologies holds roughly 625,000 and ranks as the largest ETH treasury firm. The company also recently revealed plans to acquire up to 5% of Ether’s supply.

Sharplink also holds around 438,190 ETH as its treasury reserve asset. The company added around $290 million in ETH last week at an average price of $3,756. 

Bit Digital follows with a total of 100,603 ETH in its holdings. The firm also announced on July 7 plans to transition to an Ethereum treasury strategy. The plan includes a $172 million public equity raise and a conversion of its assets from Bitcoin to Ether.

BTCS holds roughly 70,028 ETH in its holdings, with plans to close a $10 million convertible note issuance program. The initiative will bring the company’s total raised capital to $207 million this year.

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