After years of bold promises, it’s time for the second-largest blockchain to deliver.
On Jan. 1, Vitalik Buterin announced a New Year’s resolution for the blockchain he devised way back in 2013. It’s time, he , for Ethereum to step up and deliver on its original mission: “To build the world computer that serves as a central infrastructure piece of a more free and open internet.”
Buterin’s message comes at an opportune moment. For over ten years, Ethereum has dangled the enticing prospect of a global computer, accessible to all, capable of forging decentralized alternatives to Big Tech’s data-hungry monopolies. The blockchain pioneered smart contracts and has served as a launchpad for thousands of initiatives funded by billions in capital. It has also generated hordes of largely fleeting copycats.
Nevertheless, Ethereum’s promise perpetually appears just beyond reach. In recent years, the blockchain has begun to look like that surefire athletic talent who struggles to succeed at the highest level. Rather than developing into a widely-used global computer, Ethereum still resembles a niche community where groups of insiders craft obscure applications for one another. Consequently, many in the cryptocurrency space have begun placing their bets on alternative platforms like Solana that vow to produce tangible outcomes.
Ironically, Ethereum’s challenge has been its own idealism. The blockchain boasts a central community that fervently believes in decentralization and remains skeptical of anything that looks like formal authority. This includes Buterin himself, who withdrew from his creation several years ago, choosing instead to allow Ethereum to chart its own course.
This is all commendable, particularly when compared to many newcomers in the crypto arena whose sole focus is profit. Regrettably, it has also caused Ethereum developers to hesitate when confronting clear issues, such as network congestion and steep gas fees. Admittedly, the blockchain has implemented some significant improvements—but only after permitting auxiliary chains, called layer 2s, to drain substantial revenue and render the crypto ecosystem bewilderingly complex.
However, shifts may now be on the horizon. Over the past two years, both and have introduced tokenized assets that settle directly on the primary Ethereum blockchain. This demonstrates that Ethereum continues to represent the gold standard for security and suggests a future where it serves as the foundation of global finance. These tokenized transactions also validate Ethereum’s assertion to be a universal computer and might accelerate mainstream acceptance of other decentralized applications for social media, identity verification, and beyond.
Yet for this vision to materialize, the Ethereum community will need Buterin’s continued guidance. This makes his New Year’s Day message a promising development. The article reaffirmed decentralization as Ethereum’s supreme principle: “We’re constructing decentralized applications. Applications that operate without fraud, censorship, or third-party meddling. Applications that satisfy the walkaway test: they continue functioning even when the original creators vanish.”
Yet it also offered practical counsel to the community striving to construct this decentralized future: Move forward, now.
Jeff John Roberts