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Ethereum Community Fund ECF established, challenging EF's roadmap and triggering a new ecological shift.
Ethereum Community Foundation: The Rise of a New Order
In the summer of 2024, at the Ethereum community conference in Cannes, France, a remarkable "coup" quietly unfolded. Ethereum core developer Zak Cole announced the establishment of the "Ethereum Community Foundation" (ECF), with the mission directly aimed at the core of Ethereum — to support the large-scale application of infrastructure and promote the increase of ETH prices.
The emergence of ECF is a public challenge to the "subtraction philosophy" long adhered to by the Ethereum Foundation (EF). EF has always pursued "doing the best for the long-term success of Ethereum," while ECF has put forward a more direct slogan: "Every dollar will drive up the value of ETH." This commitment precisely captures the mindset of ETH holders and condenses a complex strategy into a highly attractive goal.
The Leader of ECF: Zak Cole
Zak Cole's experience is crucial to understanding the strategy of ECF. He served in the United States Marine Corps during the Iraq War, responsible for building and protecting critical network infrastructure. After retiring, Cole quickly immersed himself in the crypto world, founding the blockchain performance testing company Whiteblock and co-founding the smart contract security competition platform Code4rena.
Cole's career has shaped a leader who combines idealism with pragmatism. His experiences accumulated in real battlefields and code audits have directly influenced the three principles of ECF: immutability, no tokens, and promotion of destruction. These principles are not imagined out of thin air, but rather survival rules summarized from countless system crashes and security vulnerabilities.
The Three Pillars of ECF
ECF has proposed three core principles aimed at refocusing the economic energy of the Ethereum ecosystem:
"Promotion of Destruction": Requires that all funded projects must promote the destruction of Ether, directly linking network usage rates to the value of Ether.
"No Tokens": Funding projects that do not issue their own tokens, ensuring that all economic value created is returned to Ether holders.
"Immutable": The funded smart contracts should eliminate the ability for a few individuals to upgrade or modify them as much as possible, pursuing predictable and reliable technology.
These three principles together form a value loop: by funding high-quality on-chain economic activities, driving the destruction of Ether, and directly enhancing the scarcity and value of Ether.
Strategic Layout of ECF
ECF quickly launched two key actions:
Establish the Ethereum Validator Association (EVA): Aimed at organizing independent validators to form a political group capable of countering the influence of large protocols.
Focus on Real World Assets (RWA): Targeting the next trillion-dollar opportunity in the crypto industry by incorporating traditional financial assets into the Ethereum ecosystem.
These two strategies target the political and economic aspects of Ethereum, demonstrating ECF's comprehensive ambitions.
Fundamental Differences Between EF and ECF
EF and ECF have fundamental differences on multiple levels:
Mission: EF regards Ethereum as an "infinite garden" and pursues ecological prosperity; ECF views Ethereum as a competing economy, directly pursuing the rise in ETH price.
Operation mode: EF funds mainly come from Ether reserves, and decisions are relatively closed; ECF funds come from community donations, and decisions are made through "token voting".
Ideology: EF emphasizes "trustworthy neutrality" and funds public goods; ECF believes in "ETH-centered capitalism" and funds projects that can capture value for ETH.
The struggle between the old and new forces will determine whether Ethereum will become a free federation or a centralized financial empire. Regardless of the outcome, this competition could make Ethereum more resilient and adaptable. The emergence of ECF marks the entry of the Ethereum ecosystem into a new era of political and economic competition.