Blockchain researcher defends Ethereum Foundation's activities
Prominent blockchain researcher William Mougayar has responded to recent criticism directed at the Ethereum Foundation (EF). He asserts that the organization is fulfilling its mandated duties, though many critics misinterpret them. According to Mougayar, the EF is a protocol steward, not a marketing agency. This is reported by Cointelegraph.com reports .
The researcher explained that the ETH asset, the Ethereum network, and the Ethereum Foundation are three distinct, independent entities. According to him, the asset is money, the infrastructure is shared computing power, and the foundation is a non-profit organization striving to bring the protocol to a level independent of its founders. Confusing these concepts leads to incorrect predictions and unfounded grievances.
In recent months, the crypto community has blamed the foundation for price declines due to ETH sales and a lack of transparent communication. However, Mougayar stated that the EF's goal is to reduce Ethereum's centralization over time. He compared the foundation's activities to expecting the TCP/IP protocol to advertise at the Super Bowl, implying that the EF should not be focused on attracting institutional investors.
Currently, the price of ETH is trading around 2,117.09 USD. The foundation recently sold 10,000 ETH, worth approximately 22.9 million USD, to BitMine Immersion Technologies. It was also revealed that the organization unstaked nearly 50 million USD in assets from the Lido platform. These actions continue to spark various discussions in the market.
