Ethereum Has the Edge over Bitcoin: The Impact of Vitalik Buterin’s Proposal and Adam Back’s Response

Updated

May 5, 2025

Gambar Ethereum Has the Edge over Bitcoin: The Impact of Vitalik Buterin’s Proposal and Adam Back’s Response

Jakarta, Pintu News – In the past two weeks, Ethereum has shown better price performance than Bitcoin , recording a gain of 15.7% compared to 12% for BTC. This rise came after Vitalik Buterin, co-founder of Ethereum, proposed simplifying the Ethereum protocol to improve efficiency and scalability. However, this proposal was criticized by Blockstream CEO, Adam Back, who questioned the direction of Ethereum’s development.

Vitalik Buterin’s Proposal for Ethereum Simplification

On May 3, 2025, Vitalik Buterin expressed his views on the importance of simplifying the Ethereum protocol. He proposed that Ethereum become simpler, similar to Bitcoin, with the aim of increasing efficiency and reducing system complexity. Buterin believes that by simplifying the protocol, Ethereum can become more understandable and accessible to users and developers.

The proposal includes a long-term plan to simplify Ethereum’s consensus layer, including the possibility of replacing the Ethereum Virtual Machine (EVM) with a more efficient RISC-V architecture. Buterin argues that this move could improve the scalability and resilience of the Ethereum network in the future.

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Adam Back’s reaction to Buterin’s proposal

I literally told him so a decade ago 🤣 but they still haven't learned about balance vs utxo or the complexity of state, "rich state fullness" mistake. Redirecting miner revenue to the insiders with PoS etc. At this point just flush it before it hits 0, and buy Bitcoin.
— Adam Back (@adam3us) May 3, 2025

Adam Back, CEO of Blockstream and a strong supporter of Bitcoin, criticized Buterin’s proposal by stating that simplifying the Ethereum protocol would not address the fundamental problems in its design. Back highlighted that Ethereum’s account system adds unnecessary complexity compared to Bitcoin’s simpler UTXO model. He is also concerned that Ethereum’s transition to Proof of Stake (PoS) has concentrated power in large token holders, reducing the decentralization of the network.

In a statement, Back suggested that investors “sell ETH before its value drops to zero and buy Bitcoin”, showing his distrust of Ethereum’s development direction. This criticism reflects the sharply differing views between Bitcoin and Ethereum supporters regarding the design and future of blockchain technology.

Impact of the Proposal on Ethereum Price

Following the announcement of Buterin’s proposal, Ethereum’s price remained stable above $1,820, showing relative strength compared to Bitcoin which fell below $96,000. Ethereum’s daily trading volume also remains high, exceeding $7 billion, reflecting active market participation and positive investor sentiment.

Technical analysis shows that Ethereum formed an ascending triangle pattern on the daily chart, which could indicate a continuation of the uptrend. If the price manages to break and close above $1,880 (approx. IDR 30,812,640), then the next target is $1,950 (approx. IDR 31,938,100). However, if it fails to break the level, the price could again test support around $1,783 (approx. IDR29,201,174).

Implications for the Future of Ethereum and the Crypto Market

Buterin’s proposal to simplify the Ethereum protocol demonstrates an ongoing effort to improve the network’s efficiency and scalability. Despite criticism, this move could pave the way for further innovation in the Ethereum ecosystem and increase the adoption of blockchain technology in general.

However, the differing views between Ethereum and Bitcoin proponents on protocol design and development direction suggest that the debate over the best approach to building an efficient and decentralized blockchain system will continue. Investors and developers need to consider these different perspectives when making decisions about investing in and developing crypto technologies.

Conclusion

Ethereum’s dominance over Bitcoin in the past two weeks reflects the market’s response to Vitalik Buterin’s proposal to simplify the Ethereum protocol. Despite criticism from figures such as Adam Back, the move demonstrates Ethereum’s commitment to continually innovate and improve the efficiency of its network. These developments highlight the complex dynamics within the crypto ecosystem and the importance of open discussion regarding the future direction of blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

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