Ethereum Foundation Shifts Focus Towards Founder-Driven Growth

The Ethereum Foundation appears to be redirecting its focus towards founder-driven growth and capital formation after receiving criticism from investors and developers.

Ethereum’s leadership seems to be reevaluating its growth strategy amid increasing criticism, indicating a transition to a more founder-driven and ecosystem-oriented approach, according to Haseeb Qureshi, managing partner at Dragonfly Capital.

Optimism After Discussions

In a post on X dated March 17, Qureshi expressed optimism about Ethereum after meeting with various Ethereum Foundation representatives. He observed a genuine urgency among Ethereum Foundation members to make necessary changes, acknowledging that the current landscape is different from 2020 and recognizing the importance of Ethereum’s relevance. Feedback from investors and builders is being considered seriously.

> “After meeting with several EF people at ETH SF, I’m more optimistic about Ethereum. There’s a real urgency and an understanding that things need to change.”
— Haseeb Qureshi

Now, Qureshi suggests that the foundation is contemplating ways to mirror the success of Solana’s Superteam—a community of developers and grantees building within the Solana ecosystem—within Ethereum. This would place less emphasis on research and more focus on capital formation and the journeys of founders.

Response to Criticism

In light of recent criticisms, Qureshi noted that Ethereum leadership is aware of the feedback and is actively thinking about how to adapt.

> “Ethereum leadership have been getting a lot of criticism, and it’s important that you all know this — it’s working. They’re listening.”
— Haseeb Qureshi

This positive outlook comes even as former Ethereum Foundation engineer Harikrishnan Mulackal criticized the governance of the network, pointing out its lack of a clear vision. Mulackal warned that without stronger leadership, Ethereum risks stagnation and suggested the need for more frequent updates, proposing one hard fork each quarter.

Conclusion

With a history of criticisms aimed at its performance and governance, the Ethereum Foundation seems keen on rejuvenating its strategies to foster growth and ensure relevancy in the evolving blockchain ecosystem.