The Ethereum Community Foundation (ECF) was founded by Ethereum core developer Zak Cole with the aim of enhancing the value of Ether and supporting the growth of the Ethereum ecosystem.
Establishment of the Ethereum Community Foundation
Zak Cole, a core developer of Ethereum, announced the establishment of the Ethereum Community Foundation at the eighth Ethereum Community Conference held in Cannes. He noted that the Ethereum Foundation has been neglecting ETH as an asset class.
Goals and Plans of the New Foundation
The main objective of ECF is to fund infrastructure projects that will develop the Ethereum ecosystem. Cole stated, 'We are the Ethereum Community Foundation. We say what the [Ethereum Foundation] can't, we do what the [Ethereum Foundation] won't. We serve ETH holders because you deserve better.'
First Grant Recipient — Ethereum Validator Association
The Ethereum Validator Association (EVA) was announced as the first recipient of a grant from ECF. Zak Cole stated that the EVA will allow validators to participate in shaping Ethereum's monetary policy by prioritizing EIP roadmaps and Ethereum's client priorities.
The formation of the Ethereum Community Foundation highlights a new strategy for handling ETH assets and the intention to amplify the Ethereum community's influence on the ecosystem, which could lead to an increase in the price of Ether.
