What is going on in Ethereum community?

The Ethereum Foundation is being intensively criticized for slackening ETH development. Several developers have simultaneously left the project.

“Perhaps some day those in leadership roles will realign with the community but for now, I am out,” Ethereum core developer Eric Conner posted on X.

According to media reports, some restructuring of the Ethereum Foundation leadership is to be expected. Earlier, Vitalik Buterin claimed sole authority over the EF’s future.

Ethereum co-founder Anthony Di Iorio believes the project runs as a centralized organization. He is certain it’s time to consider appointing new leadership that is not only technology-savvy but also understands social and political trends.

Currently, Ethereum is still the second largest cryptocurrency by market capitalization. However, it has been underperforming lately due to the ongoing competition against Bitcoin as a store of value. Additionally, Ethereum has been competing against Solana as a smart contract platform.

“This has led to investors being unsure about its value proposition at least in the short term,” crypto analyst Steven Zheng noted.

Nevertheless, ETH is still a performing asset, which, as analysts suggest, is the most important metric for assessing a blockchain’s long-term efficiency.