Evgeny Gaevoy suggested that the main reason for the Ethereum fiasco will not be the fast performance of its competitor, Solana, but the inconsistency of the creators themselves and the so-called “Ethereum elite”.
Blockchain technology naturally favors incentive-based capitalist systems, the businessman argues. And Ethereum co-founder Vitalik Buterin and Ethereum Foundation chief Hayden Adams are trying to balance capitalism with solving social problems, promoting open source software, improving healthcare and encouraging creative initiatives.
Buterin recently criticized memecoins promoted by celebrities, declaring that these tokens do not carry deep meaning and do not bring practical benefits to society.
Finding a compromise between socialism and commercial incentives is in principle impossible, insists the CEO of Wintermute. As an example, the entrepreneur cited the constant attempts of developers to solve the problem of maximum extractable value (MEV) in the Ethereum network.
“Either capitalism is being built, or socialism is being planned. It is impossible to combine them. Capitalism in all its glory (sometimes terrible!) is what I choose. And if you are not here for glory, then there is a clear argument for you – capitalism functions better than socialism,” wrote Evgeniy Gaevoy.
Earlier, the head of the gaming company Animoca Brands, Yat Siu, said that cryptocurrencies can restore trust in capitalism. We are talking about decentralized autonomous organizations (DAOs) that encourage profit sharing.
Source: Bits
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