Ethereum co-founder Vitalik Buterin says the Ethereum Foundation (EF) is entering a period of “mild retrenchment” as it seeks to deliver an aggressive scaling roadmap while ensuring it can sustain itself in the long term.
In a post on
ether Tuesday’s trading price was around $2,720, a significant drop from its October peak of nearly $4,831, as cryptocurrency markets have retreated in recent weeks.
Buterin defined the initiative as going beyond Ethereum itself, with potential applications across finance, communications, governance, operating systems and security hardware. He also pointed to emerging areas like biotech and public health, as well as privacy-preserving tools like encrypted messaging and local-first software.
Buterin said the Ethereum Foundation will continue to focus on developing the blockchain, but the focus will be on “making Ethereum available to those who need it” – prioritizing decentralization, self-sovereignty, privacy and security over enterprise adoption.
Buterin also said that he is exploring decentralized staking solutions that can generate additional funds over time through staking rewards.
The news comes as the foundation holds approximately $558 million worth of crypto assets, according to blockchain analytics firm Arkham. Meanwhile, Vitalik holds $666 million.
