$ETH on the EVM Network: "Garbage Network"?

Main Issues:

- High Gas Fees: Simple transactions can reach $50 during peak times (an issue since 2021).

- Network Congestion: Capacity of 15-30 TPS vs Solana (50,000+ TPS) makes EVM uncompetitive for high-frequency applications.

- L1/L2 Competition: Solana, Cardano, and Layer-2s like Arbitrum are capturing DeFi/NFT market share from Ethereum.

Supply Manipulation: Validator & Tokenomics Issues

Critical Issues:

- Staking Concentration: 35% of ETH staked is controlled by 5 entities (Lido, Coinbase, etc.) → centralization risk.

- Active Inflation: After The Merge, ETH became deflationary (-0.5% APR), but staking rewards (4-6%) increase supply if not burned.

- Whale Manipulation: 1% of wallets control 32% of ETH supply → pump-dump risk.

Distractions from Other Projects: Vitalik is active in ZK-SNARKs, DAOs, and DeFi for Ethereum, but is also involved in Dogecoin upgrades & meme coin experiments.