Home›Crypto›Market Structure›Ethereum Foundation overhauls leadership as second dec…

Ethereum Foundation overhauls leadership as second decade begins

The foundation says its new operating mandate is built around CROPS principles, and it cut staff by 20% in recent months.

Reported · Written up by our desk · Market Structure

CoinDesk examines Ethereum as it moves into its second decade, arguing the network’s evolution now goes hand in hand with major changes at the Ethereum Foundation, the institution that has helped steward it since launch on July 30, 2015. According to CoinDesk, Ethereum’s role has expanded from its original goal of a decentralized “world computer” to becoming a base layer for tokenized assets and the settlement layer for much of decentralized finance. As the ecosystem has grown beyond any single organization, the outlet says scrutiny intensified over the foundation’s pace and transparency compared with competing blockchains. CoinDesk reports that the pressure culminated in a sweeping internal overhaul, including nine senior departures over the past seven months. The outlet also says the foundation reduced its workforce by 20% through layoffs. The article notes that in March the foundation published its first formal mandate, described as a manifesto for how it intends to operate going forward. CoinDesk says the mandate centers on a framework called CROPS, with principles including censorship resistance, open source, privacy, and security.

Latest closeEthereum $1,920.81 ▲0.6%

More like this

Sources