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Ethereum co-founder Vitalik Buterin has made a more definitive push toward attaining a decentralized network development.
The Ethereum Name Service (ENS) repository states that Buterin has registered a new domain name. This domain name “dacc.eth” is unusual, considering the dacc part stands for “defensive accelerationism.”
Why Vitalik Buterin is Pursuing Defensive Accelerationism
The Ethereum co-founder is one of the major frontiers of key innovations in the blockchain ecosystem. Launching a defensive accelerationism movement directly opposes and antagonizes a popular Silicon Valley concept, “effective accelerationism.”
The Vitalik Buterin concept hinges on the proactive development of key technological innovations. These include cybersecurity and privacy protection while promoting healthier and freer governance.
The domain was registered earlier on August 18 to show its recency. Per the ENS record, the ownership claims on the domain name will expire on August 18. It remains to be seen what the plans for this domain name are. However, it reinforces Buterin’s latest focus on privacy-related solutions.
The Ethereum co-founder is big on decentralization and functional protocol privacy. He has consistently slammed any attempt by governments to sanction free speech. From advocacy for messaging tools like Signal to the use of decentralized media Farcaster, Vitalik Buterin has shown deep zeal for protocols that can protect users the most.
Vitalik Buterin and the focused Development of Ethereum
Ethereum, as a blockchain network, occupies a very important Web3 niche. However, beyond the regular cryptography that blockchain protocols offer, it places no unique focus on encryption.
Vitalik Buterin and other developers in the network’s ecosystem understand this. Hence, the focus is to enhance the available capabilities on the mainnet as best as possible. This disposition accounts for why ETH has recently recorded several network upgrades.
One of the recent updates is the EIP 1559 upgrade, which ushered in more defined stability in gas fees. Through this upgrade, the protocol became deflationary, with a portion of the fees burned completely.
As reported earlier by The Coin Republic, the protocol is anticipating the Pectra Upgrade. This will help usher in “significant changes to the network, notably around account abstraction, validator operations, and overall network performance.” This upgrade is slated to go live later this year or in Q1 2025.
Ethereum is also making unique advances to enhance the functionality of its Layer 2 scaling solutions. The Dencun Upgrade, which went live earlier, made the L2 networks more usable by cutting the fees by over 90%.
The Rise of Ethereum Killers
Over the years, many other protocols have attempted to correct some of ETH’s perceived wrongs. Solana (SOL), Cardano (ADA), and Avalanche (AVAX) are some protocols that are making this move.
While Solana boasts of enhancing the cost of transactions, Cardano boasts of proper decentralization. On the other hand, Avalanche has made advances in reducing Time to Finality. However, none of these rivals have achieved as much as Ethereum in DeFi and institutional investor adoption.
Like Bitcoin, Ethereum now has a well-subscribed spot ETF product trading in key regions like the US, UK, and Hong Kong.