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Vitalik Buterin Promotes Preservation of Ethereum Blockchain’s ‘Minimalism’

Extending the Ethereum blockchain’s core with more and more functionality comes with a heavy price.

Ethereum co-founder Vitalik Buterin has warned against ‘”overloading” Ethereum’s social consensus –which, if discouraged or resisted – could bring “high systemic risks to the ecosystem.”

Ethereum social consensus for other purposes, including price and data oracles, re-staking initiatives, and using layer-1 soft forks to recover layer-2 projects. The Ethereum co-founder, however, warned against such a notion and explained,

Amid the rigid regulatory atmosphere in the US crypto market, San Francisco-based crypto exchange Coinbase is expanding its offering to other regions.

A recent blog post shows the cryptocurrency exchange has updated its Coinbase One trading platform while extending its product access in the US, UK, Germany, and Ireland.

According to the announcement, Coinbase One members in the United States, UK, Germany, and Ireland can now access 24/7 customer support and trade their preferred assets with zero fees.

Features On Coinbase One Subscription

Coinbase One is a subscription product that allows members to access exclusive benefits, including zero trading fees, prefilled tax form 8949, and partner deals.

Coinbase originally introduced the product's beta in the fall of 2021. However, the firm has updated the product features and rolled it out publicly in the UK, US, Germany, and Ireland.

In addition, Coinbase plans to roll out the Coinbase One service in 31 other European countries in the coming months.

While admitting the “natural urge” to try to extend the Ethereum blockchain’s core functionality, Buterin added that such actions could end up making the consensus layer more fragile.

Risks of Overloading Consensus Layer

Over the years, several proposals have emerged suggesting the use of

“It is natural for application-layer projects to attempt such a strategy, and indeed such ideas are often simply conceived without an appreciation of the risks, but its result can easily become very misaligned with the goals of the community as a whole.”

In the latest blog post titled, ‘Don’t overload Ethereum’s consensus,’ Buterin offered some potential solutions to address risks such as price oracles.