Ethereum’s Road to $10,000: Justin Sun Breaks it Down for Vitalik Buterin
In a recent string of tweets, Justin Sun, the tycoon of cryptocurrency, and the ingenious mind behind the Tron blockchain platform, extended some thoughtful guidance to Ethereum’s co-founder, Vitalik Buterin. This informal mentorship session unfolded following the publication of a paper by Buterin which revolved around Ethereum Layer-1 and Layer-2 scaling. His viewpoint found common ground with Sun’s notion of propelling the value of ETH to an impressive $10,000. Discover everything you need to know about Ethereum Scaling Advice.
However, while Buterin’s paper focused on the economic structure of Ethereum Classic to protect and amplify ETH value in a Layer-2 prevalent scenario, Sun maintained a unique perspective. Sun prompted his fellow crypto-expert to pay undivided attention towards the grandeur of ETH’s value, thus creating a detour from the path charted by Buterin.
Justin Sun’s Intricate Blueprint to Catapult Ethereum to $10,000 : an Ethereum Scaling Advice
Not long ago, Justin Sun unveiled an intricate roadmap to increase Ethereum’s value, shooting for a stellar target of $10,000 per coin. His master plan comprised five pivotal steps, all meticulously designed to be carried out within a solitary week, with the aim to escalate ETH to a significant point of $4,500 just within seven days.
Sun emphasized the pressing necessity to temporarily halt the Ethereum Foundation from parting with their ETH reserves for a substantial tenure of three years. This suggestion was accompanied by a proposition of utilizing AAVE lending, staking returns, and stablecoin borrowing as compensations towards operational expenditures. This ingenious approach would effectively stabilize the supply of Ethereum, considerably boost market assurance, and generate increased revenue.
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In tandem with these steps, Sun also ventured the idea of levying hefty taxes on all Layer-2 projects, thereby ensuring Ethereum’s annual tax collection approximating around a whopping $5 billion, whether in tokens or stablecoins. By tactfully capitalizing on these resources, the Ethereum team could buy back ETH from the market and incinerate them, paving way for a truly decentralized system.
Additionally, Sun advised a sizeable reduction in the Ethereum Foundation’s staffing levels, retaining only the crème-de-la-crème, while encouraging the remainder with hefty salary hikes. Envisioning this transformation of the ETH Foundation into a performance-based entity that compensates based on results and accomplishments, Sun’s vision remain undoubtedly bold.
