Core team of Ethereum Foundation reduced as part of ongoing restructuring efforts
Fresh Tack: Ethereum Foundation Shakes Things Up
The Ethereum Foundation is revamping its core development team, aiming to sharpen focus, boost collaboration, and speed up progress toward Ethereum's primary objectives of scalability and usability enhancement.
According to a June 2 update from the Ethereum Foundation, the organizational overhaul entails some team members moving on, and the renaming of the Protocol Research & Development (PR&D) team to simply 'Protocol'. The revamped team will zero in on three critical strategies:
- Scaling Layer 1: This concerns strengthening Ethereum's base layer to accommodate increased transactions efficiently.
- Improving User Experience (UX): Making Ethereum more accessible to a diverse audience.
- Expanding Blobspace Capacity: Enhancing rollup functionality, which is key to boosting scalability of Layer 2 technologies.
"This means some PR&D team members won't carry on with the Ethereum Foundation," the update explained, adding that the organization needs to reassess its approach to protocol design, development, and governance[3][4].
The shakeup follows co-founder Vitalik Buterin's recent confirmation at ETHGlobal Prague that Layer 1 would witness a tenfold scaling within the year ahead. In January, Buterin also hinted at future changes to the ecosystem's leadership[1].
The restructuring also responds to growing industry demands for a streamlined and secure Ethereum ecosystem[4].
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A Scary Unveiling: Ethereum's Pectra Security Flaw
Earlier in the year, the Ethereum Improvement Proposal EIP-7702 was unveiled, spotlighting potential weaknesses cruelly exploited by ill-intentioned actors. This underscores the urgent need for heightened vigilance in protocol development.
Initially designed to boost wallet functionality by allowing standard Ethereum accounts to mimic smart contracts temporarily, EIP-7702 inadvertently opened the door to new types of fraud[2]. Analysts and cybersecurity firms have traced a string of wallet draining attacks capitalizing on the new delegation feature, casting doubts on the security ramifications of recent protocol adjustments.
The timing of the Ethereum Foundation's reorganization suggests an effort to address operational shortcomings and rebuild public confidence in Ethereum's protocol development roadmap[1][2].
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Meanwhile, crypto ATM operators in Australia are grappling with stricter compliance measures and cash withdrawal limits, making it harder for users to buy digital assets in the country[3][4]. This development serves as a reminder of the ongoing regulatory challenges faced by digital asset providers worldwide.
- The Ethereum Foundation's revamped team will focus on strategies that include scaling Layer 1, improving User Experience (UX), and expanding Blobspace Capacity, which includes enhancing rollup technology, a key factor in boosting scalability of Layer 2 technologies.
- The Ethereum Foundation's organizational overhaul involves some team members moving on and the renaming of the Protocol Research & Development (PR&D) team to simply 'Protocol'.
- The Ethereum Foundation's restructuring is a response to growing industry demands for a streamlined and secure Ethereum ecosystem.
- The timing of the Ethereum Foundation's reorganization suggests an effort to address operational shortcomings and rebuild public confidence in Ethereum's protocol development roadmap, in light of the potential security issues uncovered by the EIP-7702 proposal.
