The Ethereum Community Foundation (ECF) has formally been established, with a mission to champion credibly neutral technology and ETH burning mechanisms aligned with Ethereum’s principles.
Announced by Ethereum core developer Zak Cole, the foundation has secured substantial donations totaling millions in ETH. These funds will bolster projects advancing Ethereum’s decentralized ethos and technological neutrality.
A core pillar of ECF’s mandate involves active support for ETH burning mechanisms. This aims to reduce ETH’s circulating supply, thereby enhancing the intrinsic value of the asset over the long term.
Its inaugural initiative centers on the Ethereum Validator Association (EVA), demonstrating ECF’s commitment to empowering network validators and fortifying the overall security of the Ethereum network.
The identities of ECF’s primary backers remain undisclosed at this stage.