The Ethereum Foundation (EF) has unveiled a strategic plan to ensure the protocol’s continuity even if it ceases to exist.
The new plan, dubbed the ‘EF Mandate,’ formalizes the foundation’s long-term priorities. Additionally, the document introduces a new philosophy aimed at ensuring Ethereum remains a crucial pillar of individual freedom in an increasingly centralized world.
The CROPS framework
To reinforce the key crypto ethos, the EF Mandate states that Ethereum must remain censorship-resistant, open source, private, and secure (CROPS).
According to Ethereum co-founder Vitalik Buterin, the CROPS philosophy is crucial to advancing Ethereum’s core goal of enabling user self-sovereignty, allowing people to control their assets, identities, and online activity without depending on centralized intermediaries.
At the protocol level, the CROPS framework will help enhance decentralization, privacy, and security. At the access level, the philosophy will help scale a seamless user experience and curb extraction and scams.
Buterin added that the EF is currently the sole steward scaling the protocol. However, the EF Mandate will help rope in other stewards to ensure long-term continuity.
The EF is the original steward of Ethereum. The EF is a specific organization within Ethereum – one steward, not the sole one. Ethereum protocol must strive to pass the walkaway test.
The walkaway test refers to blockchain’s longevity without intervention from centralized players. The EF billed the document as “part constitution, part manifesto, and part guide” for its members.
Interestingly, the updates follow the recent resignation of former EF Co-executive Director Tomasz Stańczak, and a shift in the scaling roadmap away from Layer-2s (L2).
Reacting to the document, Stańczak hailed the plan. However, he is worried that EF would move slowly to implement its vision.
In response, Buterin said,
We do not intend to move slowly.
Impact on ETH?
The Ethereum roadmap is ever-changing and to some analysts, the inconsistency may not be good for the native token – ETH. It remains to be seen how the new strategic plan will ultimately affect ETH’s value on the charts.
Meanwhile, at press time, ETH was trading at $2.0K. It has stayed within the $1.8K-$2.1K price range since February.
In fact, since last October, the altcoin has seen over $15 billion in on-chain capital outflows, according to Realized Cap. Unless the metric recovers, a strong ETH breakout rally might be elusive in the near term.
Final Summary
- Ethereum Foundation has released a ‘part manifesto, part constitution’ document highlighting its long-term priorities in preserving user freedom, privacy, and security.
- ETH’s price has extended its sideways structure after bleeding $15B in the past five months.
Source: https://ambcrypto.com/ethereum-foundation-publishes-part-manifesto-part-constitution-for-network/