Vitalik Buterin Announces Ethereum Foundation Overhaul with Focus on Decentralization

Ethereum co-founder Vitalik Buterin has announced significant changes to the Ethereum Foundation's structure, with a focus on longevity over breadth. In an X post, Buterin explained that the foundation will concentrate on activities essential for Ethereum's function as a secure, decentralized platform.

The move is aimed at addressing concerns about the foundation's direction and priorities. According to Buterin, the foundation holds approximately 0.16% of all ETH in circulation, compared to central foundations behind other blockchains which typically hold between 10% and 50% of their native supply.

In a bid to promote decentralization and efficiency, the Ethereum Foundation will prioritize activities that are critical to the network's function. This includes efforts to achieve provably bug-free Ethereum using AI-assisted formal verification, as well as available chain consensus and intermediary minimization.