Ethereum Foundation Leaders Assure Community of Project’s Long-Term Value
Ethereum has completed a major upgrade, the most significant in over a year, amid challenges including a decline in the price of ETH, developer migration to other platforms, and criticism of the Ethereum Foundation's leadership.
Key points from the Consensus conference in Toronto:
- Paul Brody (EY) and Josh Stark (Ethereum Foundation) discussed the need for stronger leadership within the ecosystem.
- The Ethereum community seeks improved messaging to highlight the ecosystem's strengths.
- Brody emphasized Ethereum's robust infrastructure with over 120 layer-2 networks and transaction capacity reaching up to 450 million per day.
- Transaction fees at the layer-2 level have averaged under one cent over the past three months.
- A leadership restructuring has taken place, with Aya Miyaguchi transitioning to president and Hsiao-Wei Wang and Tomasz Stańczak appointed as co-executive directors.
- Critics argue Ethereum's roadmap is overly reliant on layer-2 rollups, which may introduce security risks.
- Despite recent underperformance compared to competitors, Stark remains confident in Ethereum's value proposition.
- Brody highlighted Ethereum's progress in scaling from one million to 450 million transactions daily.
Stark concluded that while Ethereum has a complex narrative, its importance in the crypto space remains strong and will be recognized by the market over time.