Vitalik Buterin, co-founder of Ethereum 
$2,369, has made significant observations and recommendations regarding the scaling plans of the Ethereum network. He emphasized that the network’s main asset, Ether (ETH), should be the cornerstone around which these plans are structured. Buterin argued for the essential mechanisms that would enable Layer-2 networks to contribute economically to the value of ETH, while also stressing the need for innovative revenue models to enhance Ethereum’s long-term value.
ETH’s Market Performance and Competition
Buterin called for support for the Ethereum Foundation, which has faced criticism over ETH’s relatively weak performance in market value and user interest compared to its competitors. While Bitcoin 
$76,042 surged by 160% in the past year, ETH only appreciated by 40% and remains 30% below its 2021 peak. This situation indicates that more effective strategies are needed to enhance ETH’s competitiveness.
Buterin suggested that increasing the number of transaction units known as “blobs” in the Ethereum network could be a potential solution. Blobs carry temporary data, optimizing network capacity. However, as demand for blobs rises, there is a risk of depleting the current capacity.
New Revenue Models for Ethereum
Recent data indicates that the daily transaction count for blobs on the Ethereum network has surpassed 21,000. Coinbase‘s BASE network and World Chain account for 55% of this transaction traffic. Buterin predicts that setting a minimum fee for blobs and increasing their quantity could lead to the burning of 713,000 ETH annually on the Ethereum network, which could support ETH’s value, though it remains a demand-dependent solution.
Buterin’s proposals have sparked considerable interest within the Ethereum and broader altcoin communities. The feasibility of these recommendations aimed at enhancing ETH’s long-term success and strengthening the Ethereum ecosystem has begun to be discussed.
