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#EthereumFoundationRestructuresForEfficiency
The Ethereum Foundation just made a change by cutting 20% of its staff and 40% of its budget. This news came out today. People in the community have different opinions about what it means. I want to show you both sides of the argument because they're both valid.
The Ethereum Foundation got rid of 54 jobs, which's about 20% of its workforce and it is now divided into five main groups. Vitalik said that the Ethereum Foundation is reducing its budget by 40% this year and it is changing from an organization that spends a lot to one that saves for the term. The Ethereum Foundation is moving away from building things and towards taking care of the protocol.
I think the good side of this change is very strong. The Ethereum ecosystem is mature now. The Ethereum Foundation does not need to be in charge of building things anymore. There are teams working on Ethereum and they do not need the Ethereum Foundation to tell them what to do. This change shows that the ecosystem is strong not weak. The Ethereum Foundation is now focusing on saving its money for the future of spending it all. When organizations are smaller they can make decisions faster.
The not-good side of this change also needs to be considered. The timing of this change is not great because the price of Ethereum is low now. Some people are worried that the Ethereum Foundation is making this change because it is running out of money not because it wants to be more efficient. The Ethereum Foundation is divided into five groups now which means that the people in charge of these groups have a lot of power. This could be good or bad depending on who's in charge.
This change shows that the future of Ethereum belongs to the people who use it not the Ethereum Foundation. The community will build everything that's not part of the protocol. The question is, can this community make Ethereum successful again especially when other cryptocurrencies like Solana are doing well.
Ethereum needs something to happen to make its price go up. Just changing the leadership is not enough.
What do you think about the Ethereum Foundation cutting 20% of its staff and 40% of its budget. Do you think it is a sign or a bad sign, for Ethereum?
#EthereumFoundationRestructuresForEfficiency #GateSquare #Ethereum