Vitalik Buterin Says High Ethereum Price ‘Healthy’ for Network Security and Ecosystem Development
Speaking to a full house at the Columbia Journalism School on Wednesday, March 20, Ethereum co-founder Vitalik Buterin said the Ethereum token (ETH) price must maintain its high level to ensure the continued development of the Ethereum ecosystem.
Many factors influenced the 2019 Ethereum price prediction. Besides the fact that the Ethereum news has been mostly positive over the past few months, the successful implementation of the hard fork of Ethereum Constantinople has helped drive positive feelings in the Ethereum community.
Vitalik Buterin, says high ether prices are essential for both network security and the development of the wider ecosystem.
The 25-year old Russian-Canadian programmer explained host Laura Shin that many of his fellow developers had previously paid little attention to the Ether price. At the time, a large part of the Ethereum team played down the ETH token’s market price, since their main aim was to develop smart contract technology.
Some of the earlier rhetoric, particularly on the more extreme side of the price that doesn’t matter at all, counter-signaling in part to distinguish ourselves from other crypto projects that do too much pumping. But another thing is that it was about minimizing legal risk by trying to make the project appear more distant from something that is going to be covered by financial regulation, he said
He continued that regulators are more familiar with cryptocurrency space and blockchain projects in today’s context and therefore ‘ even if you’re not trying to charge the price, you [ regulators ] will fully see it. ‘
Today, the price of ETH is around 90% lower in December 2017 compared to its all-time high of close to $1,400. Through a prolonged “crypto” winter and throughout the industry, it may be no surprise that development of funding protocols is becoming a concern.
Cryptocurrency community members were looking for a link between the Buterin Account Activity and the Ethereum Prediction 2019. Well, it’s still bulky for one thing. This means that Ethereum’s founder still trusts the network and industry in general with the biggest marker broad sell-off. Buterin would have cashed off his cryptocurrency and abandoned ship if he had lost trust in the market. So, you should probably keep holding if you are an ETH holder.
In a recent address at Token 2049 in Hong Kong, Buterin argued that it was difficult to tract blockchain applications outside finance, noting that financing was “really the first blockchain [ app ] to achieve broad adoption.”
Buterin says that the cryptocurrency landscape has changed dramatically since the release of Ethereum in July 2015. In today’s context, regulators are much more open to digital assets and blockchain projects, rather than to previous perceptions and talks about crypt that were depending on illegal use and other misconduct.
