Ethereum’s Future at Risk? Vitalik Buterin Sparks Debate on Ethereum Foundation’s Future
Vitalik Buterin’s recent plans for the Ethereum Foundation have sparked heated debate across the crypto world. From his push for decentralized governance to Justin Sun’s bold claims to push ETH to $10,000, the future of Ethereum appears to be at a crossroads. To add insult to injury, key developers were leaving and a rival foundation was emerging.
Vitalik’s vision for the Ethereum Foundation
Vitalik thinks Ethereum Foundation Controlling every detail of the network should be avoided. Instead, it should focus on supporting developers and encouraging new ideas to keep Ethereum strong and flexible. He explained that by decentralizing responsibility, Ethereum can grow without being dependent on a single group or organization.
Vitalik also emphasized the importance of improving Ethereum’s scalability, security, and user-friendliness. He believes these steps are critical to Ethereum’s long-term success and ensuring the network remains a leader in decentralized finance.
Justin Sun’s bold proposal
Tron founder Justin Sun has added fuel to the debate by expressing his views on the future of Ethereum. Sun said that if he took control of the Ethereum Foundation, he could push ETH to $10,000 by leveraging strategies such as staking rewards, stablecoin lending, and borrowing through platforms like AAVE.
Sun also proposed a tax on Ethereum-based Layer 2 projects, which he said could bring in $5 billion in revenue annually.
While some agree with his ideas, others worry that the changes could harm Ethereum’s decentralized nature.
The emergence of the “Second Foundation”
Lido and P2P.org co-founder Konstantin Lomashuk Reportedly established “Second Foundation” To further support the development of Ethereum. Backed by Lido voting rights, the move could challenge the Ethereum Foundation’s current role in managing the network.
The creation of the second foundation has fueled speculation about divisions within Ethereum’s leadership. It also shows how different groups are trying to shape the future of the web in their own way.
Developers leave amid concerns
Several major developers have recently left Ethereum, suggesting there may be setbacks within the ecosystem. Ethereum core developer Eric Conner has announced his departure, saying he is no longer aligned with leadership.
Likewise, former Ethereum Foundation member Danny Ryan resigned last year due to health reasons after years of intense work.
