Vitalik Buterin, one of the co-creators of Ethereum, has unveiled significant adjustments to the Ethereum Foundation’s management team, focusing on enhancing technical proficiency and fostering better communication with developers within the Ethereum community.
In my recent blog post on January 18th, I detailed my vision for a transformation with a focus on three key areas: fostering the growth of decentralized application developers, championing decentralization itself, and ensuring censorship resistance and privacy protection.
In simpler terms, the co-creator of Ethereum made clear that the Ethereum Foundation won’t get involved in politics by lobbying, won’t change its beliefs or ideologies, and will not assume a dominant position in guiding the growth of the Ethereum community.
2024 was a challenging year for the Ethereum Foundation, marked by criticism over its spending, project milestones, and staffing choices, as expressed within the broader Ethereum community. This turbulence has now led to a shift in leadership at the foundation.
2024 leaves the Ethereum community in doubt
In May 2024, following some Ethereum Foundation researchers accepting paid consulting positions at the EigenLayer Foundation, which manages the development of the restaking protocol, a conflict-of-interest policy was established by the Ethereum Foundation to maintain integrity and neutrality in their operations.
In May 2024, Justin Drake, a seasoned researcher at the Ethereum Foundation, took on a consulting position that was compensated by the EigenLayer Foundation. Shortly after, Dankrad Feist also joined in this capacity.
In that period, I found myself dedicated to guiding the EigenLayer Foundation while delving into potential complications stemming from the process of restaking.
In November 2024, Drake relinquished his advisory role and extended an apology to the Ethereum community, assuring them that he would refrain from accepting any future advisory positions, angel investments, or seats on a security council.
After the rollout of the Dencun update in March 2024, I observed a significant drop in transaction fees for Ethereum’s layer-2 networks, with reductions reaching as high as 99%. This development has undoubtedly made transactions on these networks more cost-effective and efficient.
The significant decrease in Ethereum’s layer-2 transaction fees led to a surge in the count of active layer-2 networks on Ethereum. As reported by L2Beat, at present, there are 55 operational Ethereum layer-2 rollups.
The rapid growth of secondary networks sparked a chorus of disapproval from market players, as they voiced fears that Ethereum’s secondary networks might be eating into the income generated by its primary infrastructure.
Based on figures from Token Terminal, the income generated by the Ethereum mainnet dropped a staggering 99% during the summer of 2024. However, it managed to bounce back and reach its previous Dencun levels by the end of the year.
Token Terminal’s data shows that network earnings on Ethereum’s base layer plummeted an astounding 99% during summer 2024, but by year-end, it had recovered and returned to its pre-Dencun profit levels.
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2025-01-18 22:43