Foresight News The State of Ethereum (X) Author: Texture Compiled by: Luffy, Foresight News Cover: Photo by Shubham Dhage on Unsplash The Ethereum Foundation is a contradictory entity. Although it is committed to decentralization, its mode of operation is similar to that of a centralized entity, with a chairman, a treasury, paid developers, and a core circle. While this structure is indispensable for coordinating work, it conflicts with Ethereum's decentralized ideology. Table of Contents: - The Current State of the Foundation - Guided by Vision - Maintain Transparency and Focus More on the Community - Seize the Regulatory Dividend - Lead by Example and Use Technology for Self-Governance - Assume Responsibility and Build the Future The Current State of the Foundation Many people may not be aware that the current structure of the Ethereum Foundation is not ideal. The former leader, Ming, was ousted by a group of people whose identities have never been made public and who have not been held accountable for this action. In the days before Ming's dismissal, I spoke with her, and she revealed that she had no intention of leaving. Later, someone told me who was behind her dismissal, but they did not explain the reason. I heard that Ming was hands-on in some matters, and her strong-willed approach made some people uncomfortable. I believe there is some truth to these claims, but these are often just surface-level reasons, and there may be deeper underlying truths. Based on the organization's operational approach over the past seven years, I can infer some well-intentioned reasons. An important responsibility of the organization is to prevent internal power struggles and external control. These goals are noble, and they seem to have effectively achieved them. Another major focus appears to be minimizing the organization's public exposure and building itself in a way that does not invite government wrath and accountability when the political winds shift. However, as the political landscape changes and alternative options emerge in the market, the organization itself must adapt in form and function. Ethereum has been a visionary project from the very beginning, with implications that go beyond just the technical realm. By empowering individuals to achieve things that previously required billions of dollars, thousands of people, or millions of man-hours, it has pointed to previously unimaginable future possibilities. The current Ethereum Foundation, in its efforts to minimize internal and external threats, has lost that sense of vision. Guided by Vision The next stage of Ethereum requires not just technical research and coordination, but visionary leadership. This leader must not only understand the technology but also grasp its broader social, philosophical, and political implications. They must inspire a new generation of builders, connect technology with human needs, and navigate the complex political landscape without compromising Ethereum's principles. The Ethereum whitepaper is not just a technical document; it is a lighthouse that allows like-minded individuals to gather around a shared vision. In the face of chaos, uncertainty, and frequent conflicts, it provides a sense of direction. What ensures our collective success is not the absence of challenges, but our clear understanding of the peak we are striving to climb. This shared vision allows us to maintain unity even in the face of disagreements and setbacks.

Foresight News: The Ethereum Foundation must self-rescue: How to revive the vision? This is an idea that has emerged, a blueprint that transcends the individuals behind it, inspiring a community to persist, innovate boldly, and ultimately turn this vision into reality. Without it, the project would likely crumble under the weight of its own ambition.

Maintain transparency, focus more on the community

Transparency is also crucial. In recent years, the Foundation has gradually retreated into the background, leaving the community feeling disconnected from it. But without the community, Ethereum would achieve nothing; without the community, Ethereum would be meaningless. A community needs to be managed, nurtured, and cared for. It needs to attract new people, inject new vitality and ideas, all bound by a shared vision. This includes the teams developing on Ethereum.

Seize the regulatory dividend

From a legal perspective, Ethereum must seize the opportunity to engage with lawmakers. The current political environment in the US is particularly favorable, and if we don't act now, we may lose the advantage of development. The elected US President Trump not only holds Ethereum, but has also launched a lending protocol on Ethereum. Just a year ago, the Democratic Party openly declared war on cryptocurrencies, and the future looked uncertain, but the political landscape we find ourselves in now was unimaginable then. Now is the best time to ensure that cryptocurrencies fulfill their promises. While maintaining political neutrality, the Foundation can create or promote frameworks that encourage compliance and innovation. Without these frameworks, the cryptocurrency space will be filled with speculative projects: Initial Coin Offerings (ICOs), Decentralized Autonomous Organizations (DAOs), Non-Fungible Tokens (NFTs), etc., which are evading regulation rather than building sustainable applications within the regulatory framework.

Lead by example, self-manage with technology

The Ethereum Foundation should also consider using its own technology to coordinate operations, demonstrating the transformative potential of decentralized systems. By adopting Ethereum-based tools and protocols, the Foundation could manage governance, treasury spending, decision-making processes, and community engagement. This approach not only showcases Ethereum's capabilities, but also strengthens trust within the community by practicing the principles of decentralization and transparency that the project advocates. Furthermore, using the Ethereum ecosystem for coordination can serve as a real-world case to inspire developers and other organizations to explore similar solutions. By integrating its own technology into its operations, the Foundation can both highlight the platform's practical utility in the real world and set a precedent for how decentralized systems can effectively manage complex organizations.

Take responsibility, build the future

Finally, financial accountability must be a top priority. The Foundation spends $100 million annually and should deliver measurable results. Despite significant investments in technical research, the user experience of cryptocurrencies has stagnated. Improving user experience, user interfaces, key management, and other security and usability issues are not insurmountable, but have been severely neglected. This oversight reflects a blind spot that must be addressed if Ethereum is to achieve broader adoption. Ethereum has never been just a technical project; it is a visionary movement aimed at empowering individuals and enabling them to achieve what previously required vast resources. Today, this vision is at risk of fading. To reignite this vision, the Foundation must uphold the principles of transparency, cultivate leadership, actively engage with the community, and make its mark in the legal and political spheres. Ethereum's story is a victory over chaos, a powerful testament to the collective force of vision. To secure its future, the Ethereum Foundation must transform from a reactive institution to a proactive, visionary driving force. For Ethereum, for the community, for the greater good, for the future. Disclaimer: As a blockchain information platform, the articles published on this site represent the views of the authors and guests only, and are not related to the position of Web3Caff. The information in the articles is for reference only and does not constitute any investment advice or offer, and please comply with the relevant laws and regulations of your country or region.