Ethereum now has a new champion: the Ethereum Community Foundation (ECF). The ECF, announced by Zak Cole, wants to guarantee that Ethereum's growth boosts the value of ETH rather than just its technology.
The group has already raised millions of ETH to sponsor projects that adhere to strict guidelines: each project must be immutable, tokenless, and contribute to the burning of ETH. By reducing supply as demand grows, the ECF seeks to keep ETH's value as more institutions join the network.
One major focus is on integrating real-world assets such as equities and real estate onto blockchain. The ECF will also finance public goods, including tech fixes for issues like blob space costs. Grant decisions will be determined through coin voting, and the entire process will be open. "Every dollar moves the number," Cole explained at the Ethereum Community Conference in Cannes.
The ECF's first major move is to establish the Ethereum Validator Association, which will give validators more voice in the network's direction. This comes as Ethereum faces new competition from networks such as Solana while attempting to divert attention to its mainnet
