Konstantin Lomashuk Announces the Creation of a Second Foundation for Ethereum

YEREVAN (CoinChapter.com) —  Konstantin Lomashuk, the founder of Lido, announced the creation of a Second Foundation for Ethereum as the blockchain faces

Konstantin Lomashuk, the founder of Lido, has announced the creation of a Second Foundation for Ethereum. This move comes amid internal challenges and leadership changes within the Ethereum Foundation.

The announcement highlights Ethereum’s focus on decentralization during a transformative period. Here are the key takeaways:

Konstantin Lomashuk, also known for founding Lido and P2P.org, unveiled his new initiative on social media with a cryptic message. The announcement lacked detailed information, but Lomashuk’s recent reposts suggest his concern with the direction of the crypto space.

His posts align with comments from Vitalik Buterin, who highlighted the importance of decentralization in the Ethereum ecosystem. Buterin emphasized that the Ethereum Foundation is only one part of a larger world computer.

Lomashuk’s recent statements indicate his opposition to the growing scam culture in crypto, which he believes undermines Ethereum’s decentralized mission. His new foundation appears to be countering these trends.

The announcement comes at a time of significant change within the Ethereum Foundation. Earlier on Jan. 22, a key Ethereum developer, Eric Conner, resigned from the project. This resignation follows discussions about the future direction of the Ethereum Foundation.

An Ethereum investor commented on the situation, suggesting that spinning out the R&D support functions from the Ethereum Foundation into their own organization would be beneficial.

Amid these developments, Ethereum has encountered declining demand and internal debates over funding strategies. Reports suggest that the Ethereum Foundation is considering using staking rewards to cover their expenses.

This shift could impact decisions on future hard forks, which play a critical role in Ethereum’s governance. Despite these challenges, Lido, under Lomashuk’s leadership, has remained stable. This stability allows Lomashuk to dedicate his attention to other initiatives, such as the Second Foundation for Ethereum.