Steven Nerayoff, known as a former ethereum advisor, has been in the spotlight in recent weeks due to his allegations against ethereum co-founders Vitalik Buterin and Joseph Lubin involving corruption and other fraudulent activities. As Bitcoinist reported, Nerayoff is currently preparing to take these allegations to court, backed by substantial materials.
ethereum Insider Teases New Project
Amid this turmoil, Nerayoff today revealed its involvement in an innovative new company. In response to queries from the X community, he shared ideas about his next project through a public meeting. mail, stating: “I hope it is not my intention to create harm to any ethereum or other projects. On the contrary, I hope we return to the true spirit of cryptocurrencies.”
Nerayoff further revealed that he will be announcing his next project “shortly,” adding, “I haven’t announced it because I didn’t want anyone to say that I’m doing this to make a profit. But it involves combining ai technology that I have been developing since 2010 with next-level Web3.”
Nerayoff, who holds 46 patents in ai, emphasized global adoption of his inventions. He reflected on the last four years as a period of intense difficulties, but also as a time that allowed him to develop what he considers an innovative project.
Furthermore, he clarified his role in the ethereum project: “Deep down, I am an architect. Using nft to give the talk with Vitalik was my solution for censorship-resistant, decentralized delivery of information, such as news. “It was my way of showing a real use case for cryptocurrencies.”
crypto 2.0 Reboot
Nerayoff also criticized misaligned incentives within ethereum, leading to a lack of major Dapps aside from DEXs. He plans to address these issues in his next endeavors. “I told Vitalik that the incentives were not aligned with the price of Ether and not with the development of the protocol. The end result is not a single killer Dapp other than the DEX (…) However, it is its use that will bring even more value,” commented Nerayoff.
Additionally, Nerayoff revealed plans to potentially launch an incubator, given its numerous system designs and limited bandwidth. He mourned the loss of his Techstars franchise due to his prosecution, a significant setback amid a series of asset seizures. He acknowledged that the lawsuit against him and “exposing the truth has very high opportunity costs. But there are things more important than wealth and exposing this is one of them.”
Addressing a community member’s concern about ethereum tokenomics, Nerayoff admitted: “I totally agree. I still live with guilt even though I set it up correctly and they didn’t follow my plan. I have said that it was like inventing electricity and having the people watching you go out and create the electric chair. “Now I’m trying to fix what went wrong.”
In another post, Nerayoff recently called for a “cryptocurrency 2.0 reset,” where he contrasts the initial promise of cryptocurrencies with their current state, which he perceives as corroded and dominated by fraudulent activities. He advocates for a reboot to return cryptocurrencies to the original spirit of him. “Cryptocurrencies must be cleansed of this darkness and rebooted to fulfill their original promise. This will be crypto 2.0,” Nerayoff stated.
At the time of this publication, ethereum was trading at $2,087.
Featured image from YouTube/CryptoLawTV, chart from TradingView.com
