Ethereum continues to lead the blockchain space, maintaining high fee earnings despite network upgrades and internal disputes.
Ethereum's Resilience Amid Dencun Upgrade
In 2024, Ethereum earned $2.48 billion in fees despite the Dencun upgrade, designed to reduce transaction costs on L2 networks. Contrary to predictions, Ethereum's revenue continued to rise. The first quarter of 2024 saw $1.17 billion in fees, the highest in two years.
Ethereum Foundation Faces Scrutiny
Amid network growth, the Ethereum Foundation has faced scrutiny over management. Vitalik Buterin announced leadership changes aiming to improve communication, causing internal tensions. Core developer Eric Conner's departure sparked debate, leading to the emergence of a 'Second Foundation'.
Concerns Over Ethereum Foundation Governance
Controversies around Ethereum Foundation concern its governance model and fund allocation practices. The EF holds $800 million in Ether but is criticized for transparency and efficiency issues. Community members are frustrated with the lack of clarity.
Despite challenges and internal disputes, Ethereum maintains its position as a leading blockchain, demonstrating resilience and adaptability in a changing environment.
