Ethereum co-founder Vitalik Buterin said the Ethereum Foundation (EF) is entering a period of “mild austerity” as it looks to deliver an aggressive scaling roadmap while ensuring it can be sustained over the long term.
In a post on
Ether was trading around $2,720 on Tuesday, significantly lower than its October high near $4,831, as crypto markets have pulled back in recent weeks.
Buterin framed the initiative as extending beyond Ethereum itself, with potential applications in finance, communications, governance, operating systems and secure hardware. He also pointed to emerging areas such as biotechnology and public health, along with privacy-preserving tools such as encrypted messaging and on-premise software.
The Ethereum Foundation will remain focused on blockchain development, Buterin said, but with an emphasis on “Ethereum for the people who need it,” prioritizing decentralization, self-sovereignty, privacy and security over corporate adoption.
Buterin also said he is exploring decentralized staking options that could generate additional funding through staking rewards over time.
The announcement comes as the Foundation holds around $558 million in crypto assets, according to blockchain analysis firm Arkham. Vitalik, meanwhile, is worth $666 million.
