Author: Fairy, ChainCatcher

Editor: TB, ChainCatcher

In this cycle, Ethereum is facing numerous challenges: the frenzy of meme coins has siphoned off funds and attention, the prosperity of Layer 2 has backfired on the mainnet's value, and the Ethereum Foundation has been criticized for its "inaction." The market is rife with doubts about Ethereum, once hailed as the "king of public chains," now being mocked by the community as a "declining old order," with Vitalik also falling from his "altar."

With the market's cold gaze, internal ecological friction, and weak coin prices, Ethereum can no longer sit idly by…

In response to the community, developers, and investors, a "self-rescue operation" has officially begun. The adjustments within the Ethereum Foundation and the establishment of new departments are undoubtedly the first shots fired in this transformation.

The Rebirth of the Ethereum Foundation

The signal for reform was released as early as January 13. From activating the official X account to establishing new departments and bringing in new talent, the structure of the Ethereum Foundation is undergoing profound changes.

Recent actions of the Ethereum Foundation are illustrated as follows:

New Organization, New Structure, New Mission

In terms of organizational structure, three important organizations related to the Ethereum Foundation have recently been established, each focusing on different dimensions such as technology, governance, and institutional connections.

• Etherealize: Connecting Wall Street and Ethereum

Etherealize is the institutional marketing and product department of the Ethereum ecosystem, aimed at promoting the adoption of ETH in traditional financial markets.

Its core mission is to drive institutional adoption in both directions: on one hand, promoting Ethereum as a value storage asset and underlying technology platform to institutions; on the other hand, building financial products that bring institutional funds and users into the Ethereum ecosystem, strengthening the economic cycle of the mainnet.

The establishment of Etherealize indicates that Ethereum is pushing for institutional adoption and building a more open and inclusive financial ecosystem.

• EF Silviculture Society: Defending the Core Values of Decentralization

Composed of 15 non-foundation members, this is an informal advisory group whose main function is to ensure that the development of the Ethereum ecosystem aligns with core values such as open source, privacy, security, and resistance to censorship. EF personnel can seek advice from them through dedicated channels.

The EF Silviculture Society reflects Ethereum's further strengthening of community governance structures while allowing more experienced developers and industry experts to participate in discussions about Ethereum.

• Ethereum Foundation Research: The Pillar of Technological Innovation

The research department of the Ethereum Foundation will consist of five teams: Application Research Group (ARG), Consensus Development, Cryptography, Protocol Security, and RIG. These five teams cover the core aspects of Ethereum's development, providing foundational support for technological evolution and ecological optimization.

Seven Personnel Adjustments, Reshaping the Core Team

In addition to the establishment of new organizations, the Ethereum Foundation has also undergone a large-scale leadership adjustment. Vitalik stated that the purpose of this adjustment is to enhance the technical professionalism of the foundation's leadership, strengthen two-way communication with various parties in the ecosystem, promote the inclusion of fresh blood, and increase support for application layer developers.

Details of the position adjustments are illustrated as follows:

Among all the adjustments, the most notable is the promotion of former Executive Director Aya Miyaguchi to Chairwoman, (Related reading: Multiple Perspectives | With the Change of Leadership, Can Ethereum Regain Market Confidence?), with Hsiao-Wei Wang and Tomasz Stańczak taking on the roles of Co-Executive Directors.

Hsiao-Wei Wang has been deeply involved in Ethereum for many years and is one of the foundation's long-term researchers focused on protocol layer and core technology. She has been deeply involved in the development of the Beacon Chain, sharding technology, and the Casper consensus mechanism, possessing a profound understanding of Ethereum's underlying architecture and decentralized governance.

Tomasz Stańczak is a versatile individual with entrepreneurial experience, execution ability, and a global perspective. He has accumulated years of experience in traditional finance and technology, then ventured into the crypto industry, founding Nethermind, one of Ethereum's most important clients, while also playing key roles in several projects such as StarkNet and Forta. He not only has a strong technical background but also excels in team management, product implementation, and establishing collaborative networks globally.

These two new Co-Executive Directors each bring unique advantages, forming a complementary leadership combination. Their pairing can drive the foundation's technical research while also providing more efficient management and decision-making in ecological construction, market expansion, and community governance. This may be the key reason the foundation chose them as Co-Executive Directors.

Market Voices: Hope and Concerns Amidst Transformation

Reactions to the recent actions of the Ethereum Foundation have been mixed. Ethereum core developer Tim Beiko stated that the recent organizational restructuring of Ethereum will become a historical turning point. The new organizational structure will ensure that Ethereum keeps pace with the times while maintaining its original values.

However, KOL @TrustlessState expressed skepticism about the Co-Executive Directors (Co-EDs) model, stating that Ethereum needs strong executive leadership. As Ethereum's competitors leverage their flat management structure as an advantage, the choice of Co-Executive Directors suggests that the foundation is still maintaining this flat structure.

Crypto KOL @0xNing0x summarized the personnel changes in a more humorous way: "The high school teacher steps back to become chairwoman, technical researchers and engineers become co-governors, and marketing experts lead Ethereum to embrace business. The era of Ethereum's white-left terror rule is over, shifting from the nonsensical 'infinite forest garden' to a community of crypto-punk thinkers. Returning to the original intention, not forgetting the mission."

The market's response to Ethereum's transformation shows a clear polarization. Supporters see the potential for Ethereum in technology, governance, and ecological expansion, believing this is an important step towards a new phase; while skeptics raise concerns about the efficiency and execution of the Co-Executive Directors model.

Simply relying on structural adjustments is not enough to reshape market confidence; the real test lies in whether Ethereum can demonstrate sufficient execution power and adaptability in future technological innovations, ecological development, and market strategies. Regardless, Ethereum's transformation has already begun…

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