In a recent social media revelation, Kyle Samani, the co-founder of Multicoin Capital, reflected on his journey into the cryptocurrency sector, highlighting his initial investment in Ethereum back in 2016. Samani expressed a deep admiration for the vision of permissionless finance and smart contracts that Ethereum represented, noting its significance as his first major source of wealth. Despite Ethereum’s groundbreaking role in the crypto ecosystem, he pointed out a critical concern surrounding its scalability, a challenge that has persisted since its early days.
Samani’s experience at Devcon 3 in November 2017 further shaped his perspective. He attended eagerly, yet left disillusioned by the lack of strategic focus on scalability issues during Vitalik Buterin‘s keynote address. His observations suggested a disconnect between the Ethereum Foundation and the pressing needs of its community. Over the following seven years, he believes little has changed; the foundation’s perceived inertia in addressing scalability remains a significant barrier to Ethereum’s progression as a leading blockchain platform.