Konstantin Lomashuk, the founder of staking protocol Lido, has dispelled rumors that he has created a second Ethereum Foundation. The address follows reports that Lomashuk had hinted at creating the organization.
Decentralized finance developers continue to criticize the Ethereum Foundation’s slow response to issues affecting the core network.
in an x mailLomashuk reiterated that Ethereum remains the “world’s greatest computer.” “If a second foundation is ever formed, it should have a clear purpose that complements the tremendous work of current contributors,” the LidoDAO founder explained.
Lomashuk’s comments came in the wake of Ethereum co-founder Vitalik Buterin’s recent proposal for a major restructuring of the Ethereum Foundation. Buterin has stated that he is the only one who makes decisions about the organization’s operations.
This direction has not sat well with some developers like Eric Conner. Conner has announced his departure from the EF permanently. It insinuates that EF leadership does not have the community’s best interest in mind.
Ethereum developers: competition needed
The Ethereum Foundation has long been criticized for its perceived centralizing influence on the Ethereum ecosystem. This factor has led Lomashuk and other community members to explore alternative approaches.
In December 2024, Lomashuk expressed concern about the direction of EF. It raised questions about the entity’s sales of Ethereum and abandonment of Layer 1 networks.
“The idea of a ‘Second Foundation’ has more to do with creating competition between different groups, giving the community a choice,“Lomashuk explained in December. mail. “EF is very deep and it is almost impossible for outsiders to contribute without building long-term research muscle. Without competition, we risk losing the right path.”
Is the fourth founding of Ethereum imminent?
Amid speculation that a second EF had been launched, another prominent Ethereum developer declared his intention on X to create a “Fourth Foundation.”
Very good then. I will make the fourth foundation rise to the challenge. pic.twitter.com/SMJWTwceHa
—Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) January 23, 2025
Martin Köppelmann, co-founder of Gnosis aforementioned post and listed what he believed the important next steps should be for Ethereum. He highlighted the need to develop and deploy “native Layer 2 (L2) solutions,” a key priority he had discussed during his Devcon presentation last year in Thailand.
The developer also urged the proposed entity to put more effort into the Layer 1 (L1) scale. He insisted that each million units of additional gas could make a substantial difference.
“If, like today, sending a message from Base to Arbitrum round trip takes 2 weeks over the secure L2 bridge, absolutely no one will use it and L2s will remain a meme.“
Although these layer 2 accumulators have increased Ethereum’s performance, experts have raised concerns about possible network offsets and a significant decrease in base fee revenue.
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