Péter Szilágyi, a core developer for Ethereum, has publicly shared his complex feelings about the ecosystem, detailing significant concerns over centralization, distorted interests, and the outsized influence of its co-founder, Vitalik Buterin. In a recent article, Szilágyi, who is part of the Geth team, clarified that while he still believes in Ethereum’s positive potential, he faces several critical challenges within its current structure.

Perceived Leadership and Depleted Credibility

One of the key issues Szilágyi identified is the gap between public perception and his actual role. He explained that while the Ethereum Foundation often positions him as a leader, he sees himself as a ‘perceived leader’ without true authority. According to Szilágyi, every effort to maintain the principles and image of the Geth client depletes the credibility of both himself and his team.

Conflicts of Interest and Protocol Risks

Szilágyi also pointed to conflicts between Foundation employees and other stakeholders, which he attributes to an unreasonable salary structure. This has led to adverse outcomes, including employees leaving due to conflicts of interest. More critically, he warned that these internal dynamics could create vulnerabilities for potential manipulation of the protocol itself.

A ‘Power Elite’ Centered on Buterin

Perhaps his most pointed criticism was directed at what he described as a ‘power elite’ within Ethereum. Szilágyi asserted that Vitalik Buterin wields excessive influence and that successful projects are almost exclusively driven by a small group of 5 to 10 individuals with backing from just one to three venture capital firms. He described this as an interest circle centered around Buterin, where the success of new projects depends heavily on connections to this inner group. Ultimately, Szilágyi expressed that Ethereum’s current state is difficult to reverse, leaving his own future within the challenging environment uncertain.