- Ethereum’s performance has lagged behind competitors like Bitcoin, Solana, and Tron over the past year.
- Due to Ether’s stagnation, and controversies within the Ethereum Foundation, the community has started to lash out at EF authority figures.
- Buterin responded to some of the social media “scapegoating”, calling out certain posts as “evil”.
- Buterin plans to maintain executive control while implementing key changes to improve communication, bring in fresh talent, and increase the use of decentralised and privacy tech.
While much of the crypto community has frolicked over the past few months, the world’s second-biggest project has been relatively uninspiring.
Ethereum has gained nearly 36% over the past 12 months of trading – which at a glance seems like quite solid returns.
But when you consider the yearly high came back in March 2024, and the performance of competitors such as Bitcoin (+155%), Solana (+174%) and Tron (+125%), it’s easy to identify Ethereum’s recent struggles.
There are lots of reasons for the project’s lack of short-term success – but many are placing the blame squarely at the foot of the Ethereum Foundation’s door.
Prominent blockchain commentator and founder of Ethereum, Vitalik Buterin, addressed the concerns in a recent X post – and not everybody was pleased with his response.
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“Bullying” of Foundation Executive “Pure Evil”
The Ether community have been largely displeased with the way the Ethereum Foundation (EF) has gone about its business of late.
2024 was marred by several controversies, including accusations of ineptitude and, worse, revelations that the EF was accepting donations from private businesses. Which, you know, kind of goes against the whole decentralisation concept.
Much of this ire was squarely aimed at the Foundation’s Executive Director, Aya Miyaguchi.
This targeting drew the wrath of Buterin, who claimed it was unsubstantiated bullying from social media warriors using the Director as a scapegoat.
He referred to some of the commentary as “pure evil”.
Management Personnel to Remain, but Leadership Structure Changes are Imminent, Buterin Says
Key to Buterin’s post was that he intends to maintain complete executive control over the leadership structure of the Ethereum Foundation, for now.
Despite his full confidence in the current team, Buterin noted that key changes to the administration were required for the Ethereum project to meet its potential.
Specifically, the Foundation will “improve two-way communications”, “bring in fresh talent” and “continue to increase [the] use of decentralized and privacy tech”.
Buterin posted the full list of changes, which have been in the works for nearly 12 months, to his X account over the weekend.
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