Ethereum · Vitalik Buterin · Decrypt
Prominent Ethereum Dev Proposes $1 Billion ETH Organization With Leader Who 'Wants to Fight'
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Amidst a cascade of resignations and mounting scrutiny over its long-term vision, the Ethereum Foundation was hit Thursday with a stinging rebuke by one of its most prominent former members.
Key facts
- The organization would need at least $1 billion in funding, Feist said, provided by “a significant amount” of revenue derived from ETH staking fees
- The EF now holds less than 0.1% of all ETH,” Feist said
- Despite its long-held position as crypto’s second most-valuable asset behind Bitcoin, ETH has struggled mightily to make significant price gains in recent years, and has yet to breach $5,000
- Dankrad Feist, who until last year served as one of the Ethereum Foundation’s top researchers, suggested today that a new organization be built in its place to “save Ethereum
Summary
Former Ethereum Foundation researcher Dankrad Feist proposed replacing the organization with a new group. The new group would need at least $1 billion in ETH funding, he said, plus staking fees and a focus on raising ETH's price. The remarks come amid resignations at the Foundation and frustration with Ethereum co-founder Vitalik Buterin. Dankrad Feist, who until last year served as one of the Ethereum Foundation’s top researchers, suggested today that a new organization be built in its place to “save Ethereum.”