Bitcoin, Cryptocurrency And Blockchain News

April Fool: Vitalik Buterin Plays a Prank With ETH Hard Cap Proposal


On April 1st, Vitalik Buterin submitted a proposal on GitHub suggesting that Ethereum should decide over a fixed supply of Ether in the next hard fork. He wrote that 120,204,432 ETH or double the ETH sold in the first sale would be a good number. The idea was to safeguard “the economic sustainability of the platform under the widest possible variety of circumstances”. Buterin also said that if this proposal was adopted later in the future, the hard cap could be increased to 144 million ETH.

However, some users suspected that it was a prank considering the date it was posted on GitHub. Others said that the project was showing “signs of maturity” and provided a healthy discussion for the community. However, today, Buterin tweeted and confirmed the news: the proposal was in fact an April Fool’s joke.

Buterin wrote that the arguments were real and if people truly believe that ETH needs a hard cap, then this proposal can be used. He also posted a stablecoin announcement, which he said was plagiarized from the Tron Network.

The coin was called the “World Trade Franc (WTF)” and the project used statements such as “The World Decentral Bank also includes a basic income mechanism where member nations can apply to join and receive a share of WTF issuance on condition that they distribute it to their citizens.” It also listed Vitalik Buterin, Barack Obama and a moose as team members.

Some people enjoyed the humor and said that Buterin put a lot of effort in the prank.

But there were some users who were not happy with the situation.

Buterin ended the Twitter thread by stating that he is personally in favor of a fixed supply of Ether. He also noted that many people were actively engaging in the conversation and supported the idea of a hard cap.