The recently launched Ethereum Community Foundation (ECF) has announced its mission to support institutional infrastructure for Ethereum and create conditions for long-term ETH value growth. The organization aims to address shortcomings left by the Ethereum Foundation.
Mandate and Goals of ECF
The Ethereum Community Foundation raised millions in ETH to fund projects that aid in burning ETH and supporting long-term value growth. ECF is focused on supporting immutable and tokenless infrastructure, with plans to create a validator association to influence network development. ECF founder Zak Cole stated, “We hoped the Ethereum Foundation would course correct. They didn’t, so we’re stepping up.”
Focus on ETH Burn and Infrastructure Support
According to Cole, the foundation has already raised millions in ETH from individual backers and will utilize those funds to support technologies that reduce ETH supply. “All supported integrations must contribute to ETH burn,” states the ECF’s website. Primarily, the foundation focuses on addressing technical challenges, such as mispriced blob space, and backing public goods that directly enhance Ethereum’s base layer economics.
New Changes in Ethereum Leadership and Institutional Support
The launch of ECF coincides with changes in Ethereum's leadership, including significant shifts at the Ethereum Foundation and the emergence of new institutional players like Etherealize, led by Vivek Raman and former EF researcher Danny Ryan. While details about ECF’s backers remain undisclosed, Cole noted that more information will emerge in the coming weeks.
The Ethereum Community Foundation represents a new step in developing Ethereum's infrastructure and an effort to enhance its long-term prospects. The organization will focus on ETH burn and innovative solutions, which could influence Ethereum's future.
