- Ethereum Foundation’s R&D restructured, new “Protocol” unit.
- Focus on scaling, blobspace, user experience improvements.
- Affected primarily ETH, with potential Layer 2 impacts.
The Ethereum Foundation has restructured its Research and Development division, forming a new unit called “Protocol,” aiming to advance core areas like scaling. This reorganization was announced in early October 2023 by the leadership team including Hsiao-Wei Weng.
This event holds significance due to its strategic focus on protocol improvements within the Ethereum network, potentially influencing ETH and Layer 2 ecosystems.
The Ethereum Foundation has made significant changes to its Research and Development division by establishing a new “Protocol” unit. This move involves central leadership figures such as Hsiao-Wei Weng and is designed to streamline core protocol development efforts.
Key figures such as Tim Beiko, Alex Stokes, and Barnabé Monnot are acknowledged for their roles in restructuring efforts. The “Protocol” team now focuses on scaling solutions, including enhancements to blobspace and improving user experience on the Ethereum network.
The immediate effect of this restructuring may impact how the Ethereum network handles protocol development and upgrades. These changes are expected to lead to more efficient network responses and improvements in transaction processing.
Financially, the focus is not on reducing funds but on reallocating existing resources. This redirection of priorities aims to address essential protocol components such as scaling, which could affect ETH’s performance in the long run.
“I hope the new structure will encourage staff to focus and drive key initiatives forward.”
— Hsiao-Wei Weng, Co-Executive Director, Ethereum Foundation
Observers anticipate that the new structure may introduce more disciplined protocol advancements. Scaling innovations are particularly relevant in enhancing Ethereum’s competitiveness against other blockchains. Further updates are awaited from the Foundation as the initiatives begin to roll out.
About the author
Dogecoin Breaks Bearish Market Structure with Price Surge
Dogecoin sees a 2.44% price surge, breaking its bearish market structure amid institutional buying interest.
JPMorgan Accepts Bitcoin ETFs as Loan Collateral
JPMorgan Chase endorses spot Bitcoin ETFs as loan collateral, marking a significant institutional acceptance and increasing liquidity in the markets.
Sentient’s Dobby Plus AI Challenges OpenAI with Decentralized Model
Sentient launches Dobby Plus, an open-source, user-governed AI model, challenging OpenAI's dominance.
Hackers Exploit DevOps Tools for Crypto Mining Attacks
A cyber threat group, JINX-0132, has launched a cryptojacking campaign utilizing public DevOps tools, putting 25% of cloud environments at risk.
The Blockchain Group Seeks €10B for Bitcoin Strategy
The Blockchain Group seeks shareholder approval for a €10 billion capital raise, aiming to acquire 1% of global Bitcoin supply by 2033.
New Wallet Withdraws $7.96M in ETH from Binance
A newly created wallet withdrew 3,046 ETH worth $7.96 million from Binance just an hour ago, confirmed by onchain monitoring.
Related
Dogecoin Breaks Bearish Market Structure with Price Surge
Dogecoin sees a 2.44% price surge, breaking its bearish market structure amid institutional buying interest.
JPMorgan Accepts Bitcoin ETFs as Loan Collateral
JPMorgan Chase endorses spot Bitcoin ETFs as loan collateral, marking a significant institutional acceptance and increasing liquidity in the markets.
Sentient’s Dobby Plus AI Challenges OpenAI with Decentralized Model
Sentient launches Dobby Plus, an open-source, user-governed AI model, challenging OpenAI's dominance.
Hackers Exploit DevOps Tools for Crypto Mining Attacks
A cyber threat group, JINX-0132, has launched a cryptojacking campaign utilizing public DevOps tools, putting 25% of cloud environments at risk.
Uniswap Targets $18.26, Toncoin Eyes 40% Gain, BlockDAG’s $0.0018 Entry Expires in 8 days!
Learn about Uniswap's $18.26 target, Toncoin’s potential 40% rise, and why BlockDAG’s $0.0018 entry is a golden opportunity no trader should miss!
The Blockchain Group Seeks €10B for Bitcoin Strategy
The Blockchain Group seeks shareholder approval for a €10 billion capital raise, aiming to acquire 1% of global Bitcoin supply by 2033.
Be the first to leave a comment