The Ethereum Community Foundation (ECF) was established to promote the development of the Ethereum ecosystem and enhance acceptance from organizations and governments, while aiming to sustainably increase the value of ETH.
MAIN CONTENT
The Ethereum Community Foundation supports the application of Ethereum in organizations and governments, focusing on the development of non-Token and neutral infrastructure.
ECF is committed to increasing the price of ETH through ETH burning projects and promoting the development of core infrastructure tools.
Although Ethereum leads DeFi with 55% TVL, the price of ETH compared to Bitcoin has undergone a downward trend for nearly 30 months, while Bitcoin has surged.
How does the Ethereum Community Foundation operate to promote Ethereum?
ECF focuses on funding neutral, immutable, non-token issuing infrastructure projects to increase value for ETH Holders.
ECF's main activity is to support ETH burning projects to reduce supply and increase Token value, while also improving public goods infrastructure and scaling Ethereum.
"ECF will fund projects that increase the amount of ETH burned, contribute to public good, and develop core infrastructure along with the scalability of Ethereum."
Quote from the Ethereum Community Foundation website, 2024
ECF also launched the 'Ethereum Validator Association' initiative to increase the voting power of Validators through ETH staking to express network development perspectives.
Why is the existence of ECF important for the price of ETH?
Zak Cole, speaking at the Ethereum Community Conference 2024 in Cannes, emphasized that Ethereum is no longer an experiment but a payment platform worth billions of USD.
"Ethereum is the backbone of DeFi and stablecoins. It is the monetary foundation of the future, but currently, it has gone in the wrong strategic, economic, and cultural direction."
Zak Cole, Representative of the Ethereum Community Foundation, Ethereum Community Conference 2024
He believes that the large gaps in the ecosystem need to be addressed and promoting the price of ETH to reach $10,000 is essential, not a fanciful dream.
"ETH reaching $10,000 is not a meme but a standard to be achieved."
Zak Cole, Ethereum Community Conference, 2024
This statement received strong agreement from cryptocurrency investor Ryan Sean Adams, who called it the most outstanding presentation at this year's Ethereum event.
Ethereum's position in DeFi and the status of ETH prices compared to Bitcoin
According to DefiLlama data, Ethereum is dominating with 55% of the total value locked (TVL) in DeFi, far exceeding competitors like Solana (7.55%), Binance Smart Chain, and TRON.
Market Share TVL DeFi (%) Price Status 2023 Ethereum 55 Increased from $1,600 to $2,600 Bitcoin Not applicable in DeFi Increased from $16,000 to $110,000 Solana 7.55 Growing market share, price volatility
The ETH/BTC chart clearly shows the decline in the value of ETH compared to Bitcoin over the last nearly 30 months, with Bitcoin surging from $16,000 to $110,000, while ETH only slightly increased from $1,600 to $2,600.
This discrepancy shows that while Ethereum leads the DeFi market, the price challenges are still significant, and ECF plays an important role in guiding the path to recovery.
What is the Ethereum Validator Association and what is its role?
This is ECF's first initiative to bring together Ethereum Validators, giving them a voice in the network development process through voting rights based on ETH staking.
The organization of Validators helps increase transparency and directs community development with long-term thinking, enhancing stability for the Ethereum ecosystem.
How can the Ethereum Community Foundation create an impact in the future?
With a public, neutral funding strategy based on increasing the amount of ETH burned, ECF is expected to address current shortcomings, promote the increase of ETH prices, and expand the application role of Ethereum in finance and government.
"We are here to do what the Ethereum Foundation cannot or does not do, serving the interests of ETH Holders because they deserve better."
Zak Cole, Representative of the Ethereum Community Foundation, 2024
Frequently Asked Questions
What is the Ethereum Community Foundation?
ECF is an organization that supports infrastructure development and promotes the application of Ethereum in the community of organizations and governments.What does ECF do to increase the price of ETH?
ECF funds ETH burning projects, develops infrastructure, and creates a playground for Validators to enhance network value.How is Ethereum leading the DeFi market?
Ethereum holds 55% of the total value locked in DeFi, far ahead of competitors like Solana with 7.55%.How has the price of ETH compared to Bitcoin in recent times?
The price of ETH has been kept at a much lower increase compared to Bitcoin for nearly 30 months.What role does the Ethereum Validator Association play?
This is a group representing Validators that helps guide ecosystem development based on ETH staking rights.
Source: https://tintucbitcoin.com/ethereum-foundation-huy-dong-trieu-do-huong-den-eth-10-000/
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