Vitalik Buterin’s recent plans for the Ethereum Foundation have sparked heated debates across the crypto world. From his push for decentralized governance to Justin Sun’s bold claims of boosting ETH to $10,000, the future of Ethereum seems to be at a crossroads. Adding to the drama, key developers are leaving, and a rival foundation is emerging.
Vitalik’s Vision for Ethereum Foundation
Vitalik believes the Ethereum Foundation should avoid controlling every detail of the network. Instead, it should focus on supporting developers and encouraging new ideas to keep Ethereum strong and flexible. He explained that by spreading responsibilities, Ethereum can grow without depending on a single group or organization.
Vitalik also stressed the importance of improving Ethereum’s scalability, security, and user-friendliness. He believes these steps are essential for Ethereum’s success in the long run and to ensure the network remains a leader in decentralized finance.
Justin Sun’s Bold Proposals
Adding to the debate, Tron founder Justin Sun expressed his thoughts on Ethereum’s future. Sun suggested that if he controlled the Ethereum Foundation, he could drive ETH to $10,000 by leveraging strategies such as staking rewards, stablecoin borrowing, and lending through platforms like AAVE.
Sun also proposed introducing taxes on Layer 2 projects built on Ethereum, which he said could bring in $5 billion each year.
While some people agreed with his ideas, others worried that these changes might harm Ethereum’s decentralized nature.
Emergence of the “Second Foundation”
Konstantin Lomashuk, co-founder of Lido and P2P.org, has reportedly established a “Second Foundation” to support Ethereum’s development further. Backed by Lido’s voting power, this initiative could challenge the Ethereum Foundation’s current role in managing the network.
The creation of this second foundation has led to speculation about disagreements within Ethereum’s leadership. It also shows how different groups are trying to shape the network’s future in their way.
Developers Leave Amid Concerns
Some key developers have recently left Ethereum, pointing to possible frustrations within the ecosystem. Eric Conner, a core Ethereum developer, announced his departure, saying he no longer felt aligned with the leadership.
Similarly, Danny Ryan, a former Ethereum Foundation member, stepped down last year, citing health reasons after working intensely for years.
