Konstantin Lomashuk, the founder of the Lido staking protocol, has shut down rumors that he has created a second Ethereum Foundation. The address follows reports that Lomashuk had hinted at creating the organization.
Decentralized finance developers continue criticizing the Ethereum Foundation’s sluggish response to problems affecting the core network.
In an X post, Lomashuk reiterated that Ethereum is still the “ultimate world computer.” “If a second foundation ever does form, it must have a clear purpose that complements the enormous work of current contributors,” the LidoDAO founder explained.
Lomashuk’s comments have come in the wake of Ethereum co-founder Vitalik Buterin’s recent proposal for a major restructuring of the Ethereum Foundation. Buterin has claimed he is the sole decision-maker of the organization’s operations.
This direction has not sat well with some developers like Eric Conner. Conner has announced his departure from the EF permanently. He insinuates that EF’s leadership does not have the community’s best interest at heart.
Ethereum developers: Competition is needed
The Ethereum Foundation has long been criticized for its perceived centralizing influence on the Ethereum ecosystem. This factor has prompted Lomashuk and others in the community to explore alternative approaches.
In December 2024, Lomashuk voiced his concerns about EF’s direction. He posed questions about the entity’s sales of Ethereum and neglect of Layer 1 networks.
“The idea of a ‘Second Foundation’ is more about creating competition between different groups, giving the community a choice,” Lomashuk explained in a December post. “EF is super deep, and it’s almost impossible for outsiders to contribute without building long-term research muscle. Without competition, we risk losing the right path.”
Is Ethereum’s 4th foundation imminent?
Amid the speculation that a second EF had been launched, another prominent Ethereum developer stated their intention on X to create a “Fourth Foundation.”
All right then. I will make the 4th foundation rise up to the challenge. https://t.co/ZsQEzjbHGy pic.twitter.com/SMJWTwceHa
— Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) January 23, 2025
Gnosis co-founder Martin Köppelmann quoted the post and listed what he believed the next major steps for Ethereum should be. He stressed the need to develop and deploy “native Layer 2 solutions” (L2s), a key priority he had discussed during his Devcon presentation last year in Thailand.
The developer also urged the proposed entity to push harder on Layer 1 (L1) scaling. He insisted that every additional million gas units could make a substantial difference.
“If, like today, sending a message from Base to Arbitrum back and forth takes 2 weeks via the L2-secured bridge, absolutely no one will use that, and L2s will stay a meme.”
Although these layer-2 rollups have increased Ethereum’s throughput, experts have raised concerns about possible network trade-offs and a significant decline in base fee revenues.
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