The developer Ethereum Core has created a modern organization called Ethereum Community Foundation, with one of its goals to boost the price of Ether to USD 10,000.
ECF was directed by the developer Ethereum Core Zak Cole, who explained Its justification of the ECF foundation at the eighth conference of the Ethereum community, which took place on Tuesday in Cannes, France.
According to Cole, the Ethereum Foundation neglects ETH as a class of asset.
The modern organization aims to finance infrastructure projects that develop the Ethereum ecosystem, while increasing the price of ETH, according to Cole.
“We are a foundation of the Ethereum community. We say what [Ethereum Foundation] We can’t, we do what [Ethereum Foundation] habit. We serve ETH owners because you deserve something better. “Cole said.
In x postCole said the price of ETH is a “direct security function.” For this reason, he stated that ETH must face a sign of $ 10,000.
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The project has no connections with the Ethereum Foundation.
ECF claims that it will provide subsidies for projects that boost “ETH burning, contribute to public goods, advanced basic infrastructure and ethreum scaling.”
To receive a subsidy, projects must employ Ethereum as a settlement layer that will lead to ETH burns due to transaction processing on the main Ethereum network.
In addition, projects must be hopeless and unchanged, nature, According to on the ECF website.
During his presentation, Cole called on Uniswap, Service Ethereum and optimism to receive support from the Ethereum Foundation, but later launching his own tokens supported by financing Venture Capital.
“Projects financed by public should remain public and bring benefits to those who paid for them,” said Cole.
Cole also raised the Ethereum Foundation to neglect ETH as a valuable resource.
Cointelegraph contacted the Ethereum Foundation, but did not receive an answer until publication.
Ethereum Validator Association
Ethereum Validator Association (EVA) was announced the first recipient who received a grant from ECF.
Cole says that in the case of Eva Walidacze will now have a voice in shaping Ethereum monetary policy, the priority of EIP road maps and the selection of Ethereum client priorities.
“Eva introduces the representation of the validators,” said Cole.
Cole said Eva would strengthen customers based on their results.
In addition, Cole emphasized the potential conflict of interests as offchain laboratories, a team behind Layer-2 Network Arbitrum, has shares in Prismatic Labs.
In particular, Prism is the second largest customer of the Ethereum consensus layer, According to to Ethernodes. Prismatic Labs runs the Prism client.
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