Author: Vince Quill Translated by: Block unicorn
The Ethereum Foundation announced a new leadership structure, consisting of two co-chairs: Ethereum Foundation core researcher Hsiao-Wei Wang and Nethermind CEO Tomasz Stańczak. Nethermind is one of the largest Ethereum execution clients.
According to the March 1 announcement, Wang has seven years of researcher experience at the Ethereum Foundation, while Stańczak has demonstrated leadership in scaling an organization from an early-stage project to a global company.
Wang and Stańczak will assume their roles as co-chairs of the Foundation on March 17. The Ethereum Foundation added:
"Over the next few years, the Ethereum ecosystem needs to navigate the challenging transition from serving a small group of enthusiasts to becoming a powerful, permissionless, and censorship-resistant base layer within the global financial and software stack."
These new leadership changes come at a time when the Ethereum ecosystem is facing challenges, with the ETH price struggling to reclaim previous highs, concerns about layer-2 scaling solutions cannibalizing Ethereum, and competition from new high-throughput blockchains eroding investor confidence.
Photos of Wang (left) and Stańczak (right). Source: Ethereum Foundation
Ethereum Foundation changes strategy amid complaints
Vitalik Buterin outlined a strategy to strengthen Ethereum in a January 23 blog post, including increasing the number of blobs to improve transaction capacity and encouraging layer-2 solutions to pay a portion of fees to the base layer.
On February 13, the Ethereum Foundation deposited 45,000 ETH, worth around $120 million at the time, into the Aave, Compound, and Spark decentralized finance protocols to earn yield.
The Ethereum community welcomed this move, as it shows the Foundation has another revenue source besides selling ETH and depressing the price.
Details of the Ethereum Foundation's deposits into decentralized finance protocols. Source: Ethereum Foundation
With the emergence of the Etherealize organization, responsible for pitching Ethereum to institutional investors, social media presence and marketing have become the Foundation's top priorities in recent weeks.
Long-time Ethereum developer Danny Ryan joined Etherealize on March 1 as a co-founder, along with Vivek Raman.
The Ethereum Foundation also sought a social media manager last month to overhaul its social media operations and enhance the network's online influence.
