Vitalik Buterin Announces New GOALS After Leadership Change at Ethereum Foundation

Bittime - Ethereum founder Vitalik Buterin announced a major change in leadership at the Ethereum Foundation to strengthen the organization's focus on technical expertise and increase connections with the broader Ethereum ecosystem. 

The announcement was made via a post on X (formerly Twitter) on January 18, which outlined a vision of a more decentralized and focused future for the Ethereum community.

Main Goals of the Leadership Reshuffle

In his upload, Buterin highlighted several main goals of this leadership transformation:

• Support for Developers: Prioritize resources for decentralized application (dApps) developers.
• Promotion Key Principles: Upholds the values ​​of decentralization, privacy and censorship resistance.
• Staying Away from Political Involvement: Confirms that the Ethereum Foundation will not engage in political lobbying or ideological campaigns.
• Decentralized Ecosystem Growth: Ensures that the foundation does not take a central role in the development of the Ethereum ecosystem, leaving room for independent innovation.

The changes come after a challenging 2024, in which the foundation faced criticism regarding spending, project milestones and internal management.

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2024: A Year Full of Controversy and Challenges

The Ethereum Foundation faced scrutiny throughout 2024, starting with the introduction of a conflict of interest policy in May. 

This policy comes after it emerged that several prominent researchers within the foundation, including Justin Drake and Dankrad Feist, accepted roles as paid advisors at the EigenLayer Foundation.

Drake's advisory role, related to the development of the EigenLayer restaking protocol, sparked debate about transparency and potential conflicts of interest. 

Although Drake stepped down in November 2024 and issued a public apology, this incident highlighted the need for stronger governance within the foundation.

Impact of Dencun Improvements and Layer-2 Networks

The Ethereum network underwent a major transformation period in 2024, marked by the Dencun upgrade in March. 

This upgrade cuts transaction costs on the layer-2 network by up to 99%, driving a surge in activity. Currently, there are more than 55 Ethereum layer-2 rollups, according to data from L2Beat.

While the explosion of layer-2 networks is driving innovation, it is also fueling concerns among stakeholders. 

Some argue that increased reliance on layer-2 solutions could reduce revenue at Ethereum's base layer. 

Data from Token Terminal shows a 99% decline in base layer network revenue during the summer of 2024, although the market recovered by the end of the year.

The Way Forward for Ethereum

This leadership change aims to address these challenges while reaffirming the foundation's commitment to its core principles. Buterin's decision highlights the importance of decentralization and innovation in Ethereum's evolution.

As the Ethereum Foundation faces this new chapter, the broader Ethereum ecosystem will continue to watch closely. 

These reforms could lay the foundation for a more resilient and adaptive Ethereum, ensuring its position remains at the forefront of blockchain technology.

For developers, investors, and the community at large, this is an important moment to align with Ethereum's vision towards a decentralized future.

FAQ Ethereum

What is Ethereum?

Ethereum is a blockchain-based platform that allows developers to build and run DApps. By using smart contracts, Ethereum ensures that transactions and agreements are executed automatically without the need for intermediaries. 

How many Rupiah is 1 ETH?

Currently, 1 ETH is worth Rp54.058.839 based on the Bittime market. 

1 ETH How much is USD?

Currently, 1 ETH is worth $3.295,81 based on Coingecko. 

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Reference

Vince Quill, Vitalik Buterin announces leadership changes for Ethereum Foundation, Accessed on January 19, 2025

Author: SD