Ethereum Foundation reportedly adapting based on community feedback

The Ethereum Foundation (EF) is reportedly engaging with assemblage feedback and exploring changes to its operations, according to Dragonfly managing spouse Haseeb Qureshi. 

After gathering with EF members astatine ETH San Francisco, Qureshi noted a consciousness of urgency wrong the enactment and an consciousness that the scenery has shifted since 2020.

He suggested that EF leaders are actively considering however to replicate palmy initiatives similar Solana’s Superteam, shifting absorption from research-driven efforts to fostering task improvement and investment. 

Qureshi added:

“Ethereum enactment person been getting a batch of criticism, and it’s important that you each cognize this — it’s working. They’re listening. They’re reasoning hard astir however to adapt. It’s a teachable infinitesimal for them.”

He besides shared that EF enactment demonstrates a greater openness to outer ideas, moving distant from a “not invented here” mentality.

Community criticism

The Ethereum (ETH) assemblage has expressed concerns implicit the foundation’s direction, peculiarly fixed ETH’s underperformance comparative to different large cryptos successful 2024. 

Notably, the show of ETH against Bitcoin (BTC) reached an all-time low connected Binance connected March 13, with 1 ETH representing 0.02240 BTC. 

The lackluster show occurs adjacent arsenic Ethereum displays affirmative developments, specified arsenic boasting implicit $3.2 cardinal successful tokenized US Treasuries per rwa.xyz data. This represents astir 70% of the market.

Market participants person questioned the foundation’s treasury management, highlighting the interaction of ETH income connected terms stability.

As a result, EF started changing its structure. On Feb. 25, Aya Miyaguchi stepped down arsenic enforcement manager and transitioned to president. The instauration has yet to name a successor, and co-founder Vitalik Buterin has mentioned plans for a revised enactment operation without providing circumstantial details. 

On Feb. 28, the EF announced the “Silviculture Society,” an “informal counsel” of outsiders, to make channels for assemblage feedback and power Ethereum’s path. The purpose is to sphere EF’s “core values of unfastened source, privacy, security, and censorship resistance.”

The station Ethereum Foundation reportedly adapting based connected assemblage feedback appeared archetypal connected CryptoSlate.