Бутерин назвал две угрозы для Ethereum из-за роста влияния BlackRock

cryptonews.ruPublished on 2025-04-19Last updated on 2025-11-20

Беспрецедентные темпы накопления второй по капитализации криптовалюты институциональными инвесторами несут фундаментальные угрозы для Ethereum. Об этом заявил Виталик Бутерин во время конференции Devconnect, пишет DL News.

Риски

Первый вызов — отток разработчиков. По словам соучредителя Ethereum, основное сообщество, которое годами развивало децентрализованную инфраструктуру, вряд ли захочет работать с Уолл-стрит.

Главная цель проекта — создание прозрачных и открытых систем, а не инструментов для традиционных финансов. Если платформа сосредоточится на последнем, часть разработчиков может покинуть экосистему. Без них Ethereum рискует утратить техническую экспертизу и идейную основу сообщества.

Сейчас девять гигантов с Уолл-стрит, включая BlackRock, управляют активами на $19 млрд через биржевые фонды. Еще столько же удерживают на своих балансах несколько десятков DAT-компаний.

Источник: Strategic ETH Reserve.

Эти участники рынка аккумулировали 10,4% от общего предложения ведущего альткоина.

Второй риск заключается в давлении на техническое развитие. Инвесторы могут лоббировать изменения в базовом протоколе, которые выгодны им, но вредны для рядовых пользователей.

Бутерин привел гипотетический пример с уменьшением времени создания блока до 150 миллисекунд. Это сделало бы невозможной работу ноды для обычных пользователей за пределами финансовых хабов.

Тем временем BlackRock зарегистрировала в штате Делавэр новый Ethereum-ETF с функцией стейкинга, обратил внимание аналитик Bloomberg Эрик Балчунас.

BlackRock is planning to file for a Staked Ethereum ETF, as per the Delaware name registration. '33 Act. Filing coming soon. pic.twitter.com/NmAsQhcq5D

— Eric Balchunas (@EricBalchunas) November 19, 2025

Процедура — один из первых шагов, которые необходимо сделать эмитенту для запуска биржевого фонда. BlackRock еще предстоит подать другие соответствующие документы, чтобы предложенный продукт получил одобрение регуляторов.

Новый инструмент станет дополнением к ETHA, который с момента запуска в 2024 году привлек $13,1 млрд.

Решение

В качестве решения программист предложил сосредоточиться на уникальных преимуществах Ethereum:

«Нам нужно сфокусироваться на вещах, которых иначе будет не хватать: глобальном, беспристрастном и устойчивом к цензуре протоколе».

По словам Бутерина, Уолл-стрит не нуждается в «высокоскоростном сверхэффективном Ethereum для обработки транзакций» — для этого у компаний есть собственные системы.

Истинная ценность платформы — создание по-настоящему глобальной системы, доступной каждому без необходимости получения разрешений и механизмов доверия. Это недостижимо для традиционных финансовых институтов, считает соучредитель проекта.

Виталик Бутерин подчеркнул, что сохранение названных им качеств «сильного ядра сообщества, сфокусированного именно на этих принципах» — не на адаптации под институциональные требования, а на верности изначальным ценностям.

Напомним, на Devconnect программист также высказал обеспокоенность развитием квантовых компьютеров. По его словам, они смогут взломать текущую модель безопасности уже к следующим президентским выборам в США в 2028 году.

В октябре разработчик клиента Geth Петер Силадьи указал на централизацию власти вокруг Бутерина. Тогда же глава Polygon заявил о кризисе лояльности к Ethereum.

Бутерин предложил новые способы защиты децентрализации Ethereum

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