Ethereum co-founder Vitalik Buterin says his Ethereum Foundation power will shrink as the non-profit organization narrows its role.
Vitalik Buterin, the Ethereum co-founder, says his power inside the Ethereum Foundation will keep shrinking as the non-profit organization narrows its role and tries to move further away from being seen as Ethereum’s command center.
In a Sunday post on X, Buterin said Aya Miyaguchi, the Ethereum Foundation president and its former executive director, is “the one executing much of this transition,” while his own input has been “largely on technical questions.”
As the Ethereum co-founder added, the board “is in the process of expanding, and my own power within the org will continue to decrease, which is honestly what I want.”
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Buterin Tries to Reduce His Own Centrality
Buterin’s comments come after a long stretch of scrutiny over whether the Ethereum Foundation has too much influence and too little transparency.
Although Ethereum supporters often say the network isn’t controlled by one person, Buterin remains its most influential voice.
And the tension became sharper during the foundation’s leadership reset. In March last year, the Ethereum Foundation named new executives roles after months of pressure from parts of the community.
More context: Two More Key Developers Leave Ethereum Foundation
That pressure centered around complaints over the foundation’s lack of communication, its support for builders and Ethereum’s weaker market performance.
Buterin’s new post now appears to push back against the idea that either he or the foundation should act as Ethereum’s command center, saying the Ethereum Foundation acts as “one node, with a defined purpose, alongside other nodes.”
Ethereum Foundation in Transition Mode
The Ethereum Foundation is currently in transition phase and will take on its final form in coming months, Buterin explained, partially presenting the reason for the changes in financial terms.
The foundation, he said, holds only about 0.16% of all ETH▲$1,793.30, while some central foundations behind other blockchains hold 10% to 50%, though he didn’t name those chains.
Additionally, the Ethereum Foundation was initially designed to perform certain duties only, including development of software for the chain and taking the blockchain through its roadmap milestones.
That work, Buterin claims, was “fully completed in 2022,” meaning the foundation “was not designed to be an eternal steward.” The result is a narrower Ethereum Foundation that chooses “longevity over breadth,” sells less ETH and focuses on work that may not happen elsewhere, he added.
The Ethereum co-founder also slightly commented on ETH’s lagging price performance by stating that there were certain necessary things that should be done in relation to ETH’s status of asset, which fall out of the scope of the foundation’s activity and require “other heroes.”
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