Ethereum co-founder Vitalik Buterin said the Ethereum Foundation (EF) is entering a period of “light austerity” as it seeks to provide an aggressive scaling roadmap while ensuring its ability to sustain itself over the long term.
In a post on
Ether was trading around $2,720 on Tuesday, down significantly from its October high near $4,831, as crypto markets have retreated in recent weeks.
Buterin presented the initiative as extending beyond Ethereum itself, with potential applications in finance, communications, governance, operating systems and secure hardware. He also highlighted emerging areas such as biotechnology and public health, as well as privacy-preserving tools such as encrypted messaging and local 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 enterprise adoption.
Buterin also said he is exploring decentralized staking options that could generate additional funds through staking rewards over time.
The announcement comes as the Foundation holds approximately $558 million in crypto assets, according to blockchain analytics firm Arkham. Vitalik, meanwhile, holds $666 million.
