Ethereum's tenth anniversary creates a legendary downtime! The community praises it as the "undying network," but the controversy over L2 centralization surfaces.

Ethereum (ETH) is about to celebrate the tenth anniversary of its Mainnet launch, with a unique NFT torch relay taking place in the community. Binji Pande, a core contributor from the Ethereum Foundation, boldly claims: ETH has set an industry miracle of ten consecutive years with zero downtime and zero maintenance windows, highlighting the resilience of decentralized networks compared to the downtime histories of tech giants like Facebook and AWS. However, analyst Marty Party sharply rebuts, accusing it of low efficiency with 13 TPS and the "centralized hosting" nature of Layer 2 (L2) solutions, warning that L2 assets may involve the risk of unregistered securities. On the occasion of the tenth anniversary celebration, the current price of ETH is $3,930.54 (up 3.63% in the last 24 hours), showcasing both technological achievements and ecological controversies.

Ten Years Without Downtime: The "Undying Myth" of Ethereum The countdown event for Ethereum's tenth anniversary will kick off in late July, with the NFT torch symbolizing community spirit being passed on by co-founder Joseph Lubin. As the celebration day (July 30) approaches, core developer Binji Pande made a shocking statement on the X platform:

"Ethereum has been running continuously for ten years, zero downtime, zero maintenance window. During the same period: Facebook was down for 14 hours, AWS Kinesis froze for 17 hours, Cloudflare crashed across 19 data centers... all centralized giants will 'blink', they rely on human shifts and planned downtime."

Pande emphasized that Ethereum has withstood extreme tests such as forks, crashes, bubbles, lawsuits, hacking attacks, and even wars, while always maintaining uninterrupted network operation. Its resilience far exceeds that of other blockchains (hinting at the downtime history of "alternative L1s"). He attributes this achievement to the decentralized community ecosystem composed of developers, stakers, researchers, and users. This view was supported by Vitalik Buterin.

L2 Decentralization Controversy: Analysts Criticize "Sugar-coated Data" As the community celebrates, well-known analyst Marty Party voices a starkly different opinion, pointing directly to the "Achilles' heel" of the Ethereum ecosystem:

1. Performance Defect: The Mainnet has only 13 TPS (transactions per second), the native layer is inefficient and difficult to use.
2. L2 Essence Questioning: "Layer 2 is not a blockchain, but a centralized sequencer"—only collects pseudo-transactions, and after compression, submits them in batches to the mainnet in the form of 7-day escrow.
3. Compliance Risk Warning: Warning that assets on L2 platforms such as Hyperliquid are largely "unregistered securities". It is advised that investors wait for the clear regulatory framework provided by the U.S. "Market Structure Bill" and "CLARITY Act" before making large investments.

Note: The highlighted Hyperliquid bridges to Ethereum natively and is compatible with EVM (Ethereum Virtual Machine), this accusation has sparked heated debate in the community.

NFT Torch Relay: From Lubin to the Ukrainian Minister The NFT torch for this tenth anniversary celebration changes hands every 24 hours and has become a grand event in crypto culture:

• First Holder: Co-founder Joseph Lubin (ceremonial handover)
• Subsequent Participants: Curve Finance founder Michael Egorov
• Current Holder: Alex Bornyakov, Deputy Minister of Digital Transformation of Ukraine
• Transmission Mechanism: Starting from July 20, a community leader or builder will take turns daily, and the next holder will be announced a few hours after this article is published.

Conclusion: A decade-long technical legend without downtime is Ethereum's most hardcore "coming-of-age ceremony" for the crypto world, behind which lies the victory of the decentralization ideology. However, Marty Party's sharp criticism is not unfounded— the "centralized orderer" architecture of Layer 2, the risks of fund custody, and the ambiguous security attributes are challenges that must be faced in the expansion of the ETH ecosystem. As the ETH price approaches $3,850 with institutional funds pouring in, the community needs to stay sober amid the celebratory festivities: the true "infinite machine" requires not only a historical performance endorsement but also the ability to achieve true decentralization transformation of Layer 2 within a compliance framework. The tenth anniversary marks a milestone for Ethereum and the starting point of a new journey.