Ethereum developer Zak Cole is the spearhead of a new initiative called Ethereum Community Foundation (ECF), which will work mainly to improve the economic value of digital assets.
The initiative was announced at the Ethereum community conference in Cannes, France.
Founded by Cole and a group of ecosystem supporters, the ECF would have already raised “millions” and intends to allocate its treasure to projects that apply immutability, avoid delivering new tokens and implement mechanisms to burn Ethereum (ETH).
These requirements correspond to the mission of the Foundation to reduce the supply of ETH and strengthen the monetary policy of the network.
The initial ECF initiative, known as the Ethereum validator association (EVA), will give a greater influence of validators in the development of the protocol by allowing them to report preferences using their marked ETH.
The EVA will also invest in the validator infrastructure to improve the decentralization and security of the network.
Beyond the Validateur initiatives, the ECF aims to finance integration of real assets which provide traditional financial instruments such as actions, bonds and real estate on Ethereum blockchain. The Foundation considers these integrations as essential to institutional adoption, which it considers a key engine of the value of the long -term network.
In addition, the ECF will favor the financing of public goods which will fall under technical challenges within the Ethereum ecosystem, including adjustments in the poorly evaluated Blob space used in data availability.
Funding decisions will be governed by the vote of the documents, allowing the wider Ethereum community to participate in the determination of grant allowances. The ECF stressed that all financing decisions, treasury movements and project stages will remain publicly transparent to ensure responsibility and alignment with the objectives of the community.
The launch of the ECF arrives at a pivotal moment for Ethereum, because the network undergoes a reorganization after executive changes to the Ethereum Foundation.
The ECF’s mandate extends to engage with governments, regulators and political decision -makers to promote Ethereum as a layer of institutional infrastructure of confidence. Although specific donors of the Foundation have not been publicly disclosed, other announcements concerning its supporters and the next finance series are expected in the coming weeks.
By focusing on projects that strengthen ETH’s economic integrity without introducing new tokens, the ECF is positioning itself as an alternative alternative financing within the ecosystem. It aims to complete but also to differentiate itself from the current priorities of the Ethereum Foundation.
