Vitalik wrote that the Ether House must be “surprising”, but the Foundation is not a centre

Author: ChainCatcher

 

After a series of negative events such as the successive departures of the core members and the successive criticisms of former core supporters, Vitalik, founder of the Taifeng, is forced today to issue a long-form response to the community in order to calm public opinion and instil greater confidence in the community。

In fact, all the negative questions in essence stem from ETH's price decline. Compared to Hyperliquid ' s strong performance, the ETA lags behind in all aspects of ecological prosperity, community conviction and the performance of the main chain, and its prices have fallen by more than 64 per cent in the last year. In contrast, the HYPE price has been very high, peaking at $64。

As a result, the Taifu community has targeted the main target to its core contributors: the ETA Foundation。ACCORDING TO MANY POINTS OF VIEW, THE STRATEGY DEVELOPED BY THE TAIFUNG FOUNDATION IS VAGUE, WITH REPEATED CHANGES AT THE TOP AND NOT ONLY DOES IT NOT HOLD UP ETH, BUT RATHER CONTINUES TO SELL MONEY, WHICH NO LONGER REPRESENTS THE INTERESTS OF ETH CURRENCY HOLDERS。

Ryan Sean Adams, a co-founder of Banks, wrote on May 20th that the future of the ETA could no longer depend on the ETA Foundation. “EF, though important, requires new institutions to intervene and fill the gaps. We need an organization that truly wants to win — a quantitative increase — with ETH assets, and that is bold enough to speak out for practical implementation. EF is not and never will be.”

A similar view was expressed by Dankrad Feist, a Tempo researcher and a former ETA researcher, who wrote a few days ago that not all ETH currently held by the Taifung Foundation was 0.1 per cent, and that no funds were being channelled to it with money pledged or paid for by the Taifeng. The way to save the ETA is that communities need to create an organization that is consistent with and accountable for the economic interests of the ETA。

Senior encrypted mediaman Laura Shin further stated:The Ether's original sin is that every step since Dencun didn't take into account the forensic economicsIn other words, capital markets and price performance have been neglected by the excessive ideological focus of the Taifeng Foundation。

In response to these criticisms, Vlitak responded to the concerns of the community with frankness and determination in a long paper published today, and systematically articulated an in-depth reflection on the role, strategic direction and value positioning of the foundation。

 

One: Face "Crisis": The Ether House can't be "second Google."

Vitalik began by admitting a "problem" - He often sees people saying, "Vitalik's mouth says that the Ether House is going to be central, private, a refuge technology, but why isn't that reflected in the actual actions of the EF?"

He went on to say that there might be a real difference between his sense of crisis and the rest of the community. - In the case of "What kind of criticism do I value most, which kind of critic is best able to stab me through criticism."。

To that end, he drew an interesting analogy: Google. Vitalik thinks Google is a success story, but it can also hold another view: They had a good and idealistic start, but at some point, the corruption of mainstream corporate attitudes infiltrated, and they completely abandoned the slogan "no evil."

He said, "If you bring me back around 2008, give me a button, and press it, and Google will raise one or two standards of dogmaticism, such as giving Richard Stoman permanent veto over certain key policies, I will not hesitate to press it."

The reason for this is that the entire technology industry is moving away from its early idealism of "no evil", "to pursue financial interests, embrace the grand narratives that accelerate super-intelligence, infiltrated by impotence and weakly subjugated to the pressure of the government on conscious form control, surveillance and war." That is why, "Let a company do something special, position itself as the 'unjustifier' that George Shoberner calls it, and resist the tide of times, which is more conducive to freedom, balance of power and stability of society than all the big companies are to the mainstream."

In fact, this statement has set the tone for the future of the Foundation: It will not be the second Google — it will not slide one step after the opening of idealism towards mediocrity and corruption。

 

TWO, EF, NOT THE CENTER, BUT THE NODE WITH A CLEAR OBJECTIVE

In response to external criticism of the location of the foundation, Vitalik provides a clear framework: EF is not the "centre of the Ether House" but "a node with other nodes with clear responsibilities". And he said, "In the ETA," and even inside the EF, there's a lot of people who want us to be the former. Now we are taking action to make sure we become the latter."

The need for this shift lies in a cruel financial reality: EF holds only about 0.16% of all ETH shares, "less than many individual ETH holders", and in other block chains, the Central Foundation holds 10 to 50% shares that are common. Vitalik further notes that the EF was originally designed only to complete the limited scope of work defined in the token sales document, which was fully completed in 2022, "it was never designed as an eternal manager."

So Vitalik says that EF then chooses to spend the rest of its resources in pursuit of the long term, not blindly spread. EF will focus explicitly on those activities that are critical to the success of the SEA as an anti-censorship, catch-resistant, open, private, secure system and that would not have taken place without them. He stressed in particular that EF would no longer continue to sell a lot of ETH。

 

The Ether House must be "surprising."

Vitalik has put forward in the long text a very clear view: the Taifeng must be "surprising."。

"WE LIVE IN AN ERA OF HIGHLY INTELLIGENT AI AND TECHNOLOGIES ACCELERATING DEVELOPMENT. "MAINTAIN THE EVM STATUS QUO, ONE OR TWO TIMES A YEAR TO MEET THE SHORT-TERM NEEDS OF THE USER," THIS ROUTE HAS NO IMAGINATION."

But for some people, "surprising" means 250 millisecond delays, 1 million TPS. Vitalik said, "I think it's a mistake to go this way. It's a path to mediocrity, and if we do it, we will fail."

HE THINKS THE ETHER IS SUPPOSED TO WORK HARD ON ANOTHER DIMENSION -- THE CROPS DIMENSION:

First, there's proof there's no Bug Ether. About six months ago, "All cyber security researchers would have thought it was an absurd and impossible goal. And now, thanks to AI-assisted formalization, it is on the verge of becoming a reality."

Secondly, there is a chain consensus on high availability. Vitalik emphasizes that the Etherject, with a streamlined consensus, will continue to be the only chain with both the traditional BFT security attributes (high tolerance under the walk network) and the Bitcoin POW security attributes (sync network against 49% attack)。

Thirdly, intermediaries are minimized. " Frankly, it is embarrassing and has always been a vulnerable point that agreements such as smart contract wallets, railguns and so forth must be sent by intermediaries to trade. "He's honest," is only 50 percent, and doesn't make the Ethers a profound shock at the CROPS dimension. So we must pursue 100%."

This “unjustified” technical insistence is in fact a response to the criticism of senior mediaman Laura Shin: The ETA does not ignore forensic economics, but seeks to obtain the highest capital premium by creating extreme “certainty”。

 

IV: How can the gap of “harmonization” be filled

Looking back at the past decade, the ETA has evolved itself through a bursting of the ICO bubble, DeFi winters, hacking and multiple bear market shocks。

Today, Vitalik's reflection on the Foundation has attracted widespread attention not only because he responded to outside criticism, but also more importantly because he sent a signal: It is moving from a technology-oriented organization in the past to mature institutions that balance organizational governance, ecological coordination and long-term strategies。

For an ecosystem that manages hundreds of billions of dollars of economic activity, such a shift may not be easier than any single hard-wire upgrade。

Lucas Tcheyan, Vice-President of Galaxy Research, expressed firm support for ETH, “The market is repeating the same mistakes as ETH, as it did for SOL in 2022/203. EF management changes are worrying. But the ETA road map appears to be more coherent than ever since the merger.”

However, after the Etherak Foundation further reduced its remit, Vitalik and Etherak Foundation did not respond to this problem, and the market did not see a viable solution for the time being, in response to the view of many people in the industry that it was necessary to create an “organization whose economic interests are consistent with and responsible for the Etherakang”。

THIS GAP IN THE CONVERGENCE OF INTERESTS MAY BE THE KEY TO ETH TO REVERSING ITS DECLINE。