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Vitalik Buterin highlighted fundamental differences between the core design of Bitcoin and its smart contract pioneering predecessor Ethereum having trade-offs during a widely-tuned-into Twitter Space on July 6 .

Buterin, who co-founded Ethereum alongside eight other influential cryptocurrency developers, spoke at length with Bitcoin advocates Eric Wall and Udi Wertheimer about the technical and cultural nuances of either protocol.

I think theyre definitely different experiments in terms of the culture and unavoidable trade offs that theyre making and thats something that Ive only really come to realize over time.

Buterin believes there is great value in Bitcoin and Ethereum continuing to co-exist, while admitting he had separated the technical and cultural aspects as best he could

When I was starting with Ethereum I was looking at them as a kind of technical

systems and cultural systems somewhat separately. I had my beliefs on culture, that maximalism is crazy.

Buterin said he had focused on taking a system from Bitcoin, which was fairly basic, and creating a more programmable system that mirrors how computers evolved.

With technological and cultural aspects intermingled in the development of both Bitcoin and Ethereum, Buterin highlighted the inevitable trade-offs of these systems.

There are points at which you have to make certain choices. Like if you make a system that supports more functionality, then any kind of functionality that you support ends up having risks, right?

Buterin said that extensive functionality requires protocol complexity, but functionality itself can introduce risks to a blockchain system.

Thats an example of something that we saw during the last few years.

Ethereum, which originally employed Bitcoins proof-of-work consensus algorithm, shifted to proof-of-stake consensus in 2022 during the highly anticipated Merge.

The change in its core consensus protocol saw stakers introduced as the new miners of the network. Staking 32 ETH is required to be a validator, which then receives rewards for processing transactions and maintaining the network.

The change also caused a split within the Ethereum community as Buterin highlighted, referring to the Ethereum DAO fork of 2016 which caused a fork in the chain, leaving ETH as we know it today and Ethereum Classic (ETC) as two separate chains.

A lot of the people who were in favor of a more purist approach toward immutability ended up

going to Ethereum Classic and people who are much stronger proof of work proponents.

Buterin believes that many of the subtle choices made by both protocols in terms of functionality end up providing value and continue to co exist.

Theres just like a lot of these subtle choices that both platforms have made that like really go beyond the question of being general purpose or not trying to be general purpose?

Highlighting a plethora of differences between Bitcoin and Ethereum which ended up in either protocols choosing different trade offs down the line.

The result of all this is that we have these two different experiments that seem to me to be valuable. Im happy that theyre both continuing to exist.

Buterin added that both protocols can also be considered more honorable than overinflated scams that the cryptocurrency space has been littered with over the years.

I do think that there is a kind of core commitment to values in there that I think is valuable for the space to actually provide something that matters to people.

Another central theme emphasized by Buterin was the need for blockchain to move beyond its current limitations by prioritizing scalability:

We need to find ways to scale up blockchain systems to handle a larger number of transactions without sacrificing security or decentralization.

This sentiment echoes the growing consensus within the industry, as developers and innovators strive to enhance the capabilities of blockchain networks.

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Ethereum, Bitcoin Choose Different Tradeoffs But Both Are Valuable ... - CCN.com

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High-profile cryptocurrency founder Justin Sun drew attention today by making a significant transfer of Ethereum (ETH) coins. Data from the on-chain analytics platform Lookonchain reveals that Sun moved a staggering 23,000 ETH, equivalent to approximately $43 million, to Poloniex, a cryptocurrency exchange he owns. This kind of substantial funds movement isnt out of character for Read more

High-profile cryptocurrency founder Justin Sun drew attention today by making a significant transfer of Ethereum (ETH) coins. Data from the on-chain analytics platform Lookonchain reveals that Sun moved a staggering 23,000 ETH, equivalent to approximately $43 million, to Poloniex, a cryptocurrency exchange he owns.

This kind of substantial funds movement isnt out of character for Sun. As the founder of Tron and owner of multiple leading Web3.0 firms, he has his fingers in many pies in the crypto space. However, his recent movement of funds has led to speculations about its possible reasons.

There are speculations that Sun may be preparing to liquidate gradually, hoping to capitalize on Ethereums recent price surge. An investigation of his associated wallet address reveals that Sun is an active participant in the Decentralized Finance (DeFi) ecosystem, frequently partaking in staking activities that yield regular rewards. Since Poloniex supports staking, this latest move might be a strategy to stake the funds on his platform.

An alternate possibility relates to liquidity management at Poloniex. As Sun has direct oversight of the trading platform, ensuring sufficient liquidity to meet all customer orders is a priority. This recent Ethereum transfer could bolster the platforms liquidity reserves.

Despite these speculations, the fear of a massive sell-off spurred by Suns recent move might be unjustified. Indeed, Sun holds a whales share of various digital currencies, including Ethereum. However, even if he were to offload the entire 23,000 ETH, it might not significantly impact Ethereums market, which boasts a market capitalization of over $224 billion. Consequently, the potential fallout from such a sell-off might not be as severe as some fear.

As Suns significant Ethereum transfer has the crypto world buzzing, questions are being asked about whether its a savvy market strategy or an attempt to manage liquidity on his exchange. Only time will tell.

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Tron founder, Justin Sun, moves $43 million worth of Ethereum ... - Cryptopolitan

Polygon spin-off Avail unveiled its data attestation bridge to Ethereum, Friday, as it seeks to carve out a niche in Ethereums rollup-centric scaling roadmap.

Layer-2 rollups currently use Ethereum mainnet for posting their transaction data, which represents the majority of the transaction cost to users. These costs are expected to come down significantly following the next Ethereum upgrade Dencun later this year, which will implement EIP-4844.

Further scaling gains should be found higher up the stack, on layer-3 networks envisioned such as Arbitrum Orbit, or zkSyncs hyperchains. Thats where Avails solution will likely come in, Anurag Arjun, Avails co-founder, told Blockworks in an interview.

With computation with something like [zero-knowledge proofs], you are able to compress proofs, youre able to do recursive proofs and make it small, but with data, you cannot do it, Arjun said.

Right now, some early attempts make use of what are known as data availability committees (DACs), but in the future Avail or Celestia could provide a better alternative because they use a technique known as data availability sampling (DAS). Ethereums own implementation of DAS is still likely years away.

By enabling rollup constructions to run in validium, optimistic chains, and volition modes, we are not only reducing costs but also paving the way for a more inclusive and efficient layer-2 and layer-3 ecosystem, Arjun said in a statement.

There are some trade-offs in terms of security, but for the kinds of use cases that are most likely to require layer-3s, the cost, performance, and privacy concerns will make off-chain data availability options worth it, according to zkSync co-founder Alex Gluchowski.

Its very cheap, but you only have a partial inheritance of Ethereum security, Gluchowski said.

Avail opted to become an independent company outside of the Polygon product suite so that it could service all kinds of rollups, not only those from Polygon.

We wanted it to be more credibly neutral in that aspect because Avail is a general purpose base layer, Arjun told Blockworks.

The transition, completed about three months ago, saw Arjun leave his operational role at Polygon, which will now be one customer of many for the new firm.

Polygons PoS chain, which Polygon recently announced would morph into a zkEVM validium, will initially make use of its own validator set to provide data availability, but it could also use Avail in the future, Arjun said.

Avail is built using Polkadots Substrate technology due to its use of nominated proof-of-stake (nPOS) and tendency to facilitate wide distribution of stake.

Arjun observed from his experience with Tendermint consensus used by the Polygon PoS chain that there is a concentration of stake with a majority controlled by eight to 10 validators.

A new staking token, AVAIL, will facilitate a permissionless validator set of up to 1,000 validators.

Other than that, there is no connection to the Polkadot ecosystem. They may be able to help Polkadot build zk rollups on a Polkadot parachain using Avail, Arjun said, but this idea is very new and will require a lot of further development.

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Avail offers to bridge the data availability gap for Ethereum rollups - Blockworks

Disclaimer: The text below is a press release that is not part ofCryptonews.comeditorial content.

The success of Ethereum (ETH) holds significant importance for the overall growth and prosperity of the cryptocurrency industry.

The surge in network activity and user engagement indicates that Chainlink (LINK) is another altcoin that keeps improving.

At the same time, VC Spectra (SPCT) popularity is rising, and a price spike to $0.011 is anticipated for Stage 2.

Moreover, industry experts forecast significant increases in value once SPCT becomes available on prominent exchanges.

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One thing that makes Ethereum (ETH) strong is its dynamic and engaged community.

Moreover, Ethereums (ETH) global developer community hosts various DApps and cutting-edge initiatives.

Ethereum (ETH) also boasts a resilient infrastructure that effectively manages many transactions, rendering it a dependable option for DeFi applications.

Ethereum (ETH) has experienced a decline of 1.58% within the past 24 hours, with its price fluctuating between $1,897.12 and $1,942.64.

Industry experts have, however, observed that Ethereum (ETH) has consistently maintained a high TVL, proving its strong and reliable utility.

According to analysts, Ethereum (ETH) is expected to demonstrate resilience in the upcoming months and potentially reach $1,981 by the end of 2023.

The introduction of Ethereum's (ETH) EVM-compatible chains represents a noteworthy progression in blockchain technology, improving scalability, connectivity, and transaction speed.

Since mid-June, there has been a significant increase in Chainlinks (LINK) price, with a rise of almost 30% from $5 to $6.37 at the start of July.

Over the past 24 hours, Chainlink (LINK) has fluctuated between $6.24 and $6.57.

Chainlink (LINK) recently announced a significant partnership with SWIFT, a renowned interbank messaging system.

The Chainlink (LINK) and SWIFT alliance symbolize a strategic and mutually beneficial partnership between the traditional finance sector and blockchain technology.

In addition, Chainlink's (LINK) on-chain activity, social engagement, fundamentals, and adoption demonstrate a strong foundation.

Chainlink (LINK) is also widely recognized for its strong track record in security and reliability, making it the top choice for numerous developers and enterprises who prioritize constructing dependable and data-centric applications on the blockchain.

Due to these reasons, Chainlink (LINK) continues to reign supreme as the top decentralized oracle network.

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The VC Spectra (SPCT) initiative aims to capitalize on growing multi-billion dollar sectors with outstanding compound yearly growth.

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Three Altcoins Set for Continued Growth: Ethereum (ETH), VC ... - Cryptonews

Institutional investors turned their attention to a host of crypto products last month, per a new report.

Crypto data provider CCData revealed that institutional investors have been busy trading a wide variety of financial instruments that are exposed to Bitcoin and Ethereumshowcasing upticks in spot trading volumes, derivatives trading, and CME Futures Contracts for the leading cryptocurrencies.

Seemingly behind the wheel of this notable increase in linked to digital assets last months BlackRock spot Bitcoin ETF filing.

With a reported 575-1 track record on successful applications, the numbers indicate that this is the driving force behind Junes bullishness.

According to CCData, the Chicago Mercantile Exchange (CME) saw its best June for Bitcoin futures volumes, rising an astounding 28.6% to $37.9 billion.

A different instrument, Bitcoin Micro Futures (MBT), also jumped double digits, trading at $702 million with a 21.1% boost. These are smaller contracts, usually worth one-tenth of a standard contract. In the CMEs Bitcoin Futures case, it would be 1/50th.

Todays report notes that there were a total of 264,323 BTC contracts traded, up 22.7% from the month prior. Its important to remember that these contracts are backed by 5 underlying Bitcoin.

Ethereum-based instruments also saw a hefty rise, per CCData. Over 97,000 ETH Futures contracts were traded, notching a 10.8% rise in June. The underlying asset in this case is 50 ETH.

The USD value of the volume traded jumped quite substantially for both BTC- and ETH-backed products. Collectively, they recorded a 24.6% pump, with $46.8 billion changing hands. This has been the highest number since May 2022.

It appears large players are hopeful about the filing frenzy happening in the United States.

The increase in speculation and trading could have a positive spillover effect into the CME Groups latest product, the Ethereum-to-Bitcoin Ratio Futures whichpending regulatory approvalcomes to market later this month.

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Bitcoin, Ethereum CME Contracts Hit $46.8B in Trading Volume Last Month - Decrypt