Prominent Ethereum Dev Wants $1 Billion ETH Organization And Leader Who ‘Want To Fight’

Between the increasing number of resignations and long-term reviews, Ethereum The Foundation was hit on Thursday with a scathing criticism from one of its most prominent members.

Dankrad Feist, who until last year served as one of the top researchers of the Ethereum Foundation, said today that a new organization should be built in his place to “save Ethereum.”

The organization would need at least $1 billion in funding, Feist said, with “a lot of money” coming from ETH fees.

“EF now has less than 0.1% of all ETH,” Feist said. “There is no outflow of Ethereum staking or fees.”

He added that the new organization will need a group of people “who want ETH to go up” and “a leader who is capable and wants to fight.”

In recent months, Ethereum founder Vitalk Buterin has been struggling to convince the community who complain that the Ethereum Foundation is more concerned with good ideas and arcane technological changes than with economics and business.

Decrypt reached out to Feist about the post, including seeking clarification on whether it refers to any other leader, and we will update when we receive a response.

Despite its long tenure as the second most valuable crypto asset behind Bitcoin, ETH has struggled to make significant gains in recent years, never breaking $5,000. It reached a close last summer, but has fallen nearly 57% to just over $2,100.

Last year, Buterin he agreed The organization needed “a big change.” But when the Ethereum Foundation released the long-awaited innovation responsibility in March, the document contained not only explicit sexual language and images, but also references to the conflict. Miladys The collection of NFT-also repeatedly emphasized the lack of an organization that wants to be more stable in raising the price of ETH.

“Our goal is not for profit, or for organizational growth, or for any frivolous adoption,” the statement reads.

“We are NOT an advertising agency…. NOT a casino…. NOT a profiteering company,” another section said.

Since the grave was there, several members about the leadership of the Ethereum Foundation to be he resigned-combined the two this week, raising further doubts about the current organization’s ability to lead the Ethereum ecosystem.

None of the developers, however, specifically explained Buterin’s vision for Ethereum or the new work of the Ethereum Foundation. Feist’s comments today are a serious blow to the organization and the man who, until recently, was the driving force behind his career.

Last fall, Feist let the Ethereum Foundation go build Tempoa private blockchain being developed by payment giant Stripe. One crypto explainer compared and The change of work, at the time, to the idea of ​​the environmental activist Greta Thunberg to accept a position at the oil giant British Petroleum.