Lubin: Ethereum Foundation cuts and departures aren't a crisis

Joe Lubin, who was involved in Ethereum's creation and is now CEO of software developer Consensys, said the Ethereum Foundation's recent budget cuts, staff departures and restructuring are a necessary evolution rather than a crisis. He said he has no role at the foundation and believes the group's role should be narrower and focused on stewarding the network's core technology and values.

Lubin argued the foundation must be "credibly neutral above reproach" and warned that mixing business and builders invites conflicts of interest. He said much criticism comes from misunderstanding what the foundation is meant to do for the blockchain, which handles about 2 million transactions a day, according to Etherscan data.

"What's happening at the EF is cleaning that up," he said, referring to efforts to separate protocol stewardship from commercialization and business development.

joe lubin, ethereum foundation, consensys, budget cuts, staff departures, restructuring, protocol stewardship, commercialization, conflicts, etherscan