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David Mihal
@dmihal
So, I've been quietly working on a new project over the last year... and it's time to share a bit about it 😉 It's time to bring Ethereum back to it's roots, time to bring back the magic that made it so special. Let me tell you a bit about why I'm so excited about @fuel-network ⤵️
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David Mihal
@dmihal
Ethereum today looks a lot different than when I started. ETHBerlin 2018 was my first entry into the community. And back then, the community was pretty weird. A group crazy enough to think they could take on the world's governments, banks, and big corporations. I fell in love.
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David Mihal
@dmihal
This crazyness was what built Ethereum. People dreamed big, dared to think different. Not just different from the traditional, non-crypto world, but also from the mainstream crypto community who doubted that Ethereum could live up to it's grand promises.
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David Mihal
@dmihal
While most chains were single-purpose, Ethereum put a turing-complete computer on chain! When nearly every chain was using PoW, Ethereum set out to build the a robust PoS system. While every chain was trying to have a "fixed supply", Ethereum shifted tokenonomics with EIP-1559.
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David Mihal
@dmihal
Today, Ethereum looks very different. Ethereum secures over $1.5 trillion of assets. Mainstream institutions like Blackrock and PayPal are issuing assets on-chain. And Ethereum's core development has become slow and conservative, as the L1 approaches it's "final state".
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David Mihal
@dmihal
Yet this is a classic case of the "innovators dilemma": focus on pleasing existing users & customers kills the innovation cycle, making it vulnerable to disruption. Like many technologies before it, Ethereum is becoming a victim of it's own success.
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David Mihal
@dmihal
Ethereum's modular, rollup-centric roadmap enables permissionless innovation to continue, allowing new L2s to experiment with the the execution layer. Yet most L2s aim to be as similar to ETH L1 as possible (they're basically all EVMs). This is where Fuel comes in.
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