Ethereum continues to face criticism from regulators as well as developers within the community. In response to the criticisms community member Paul Dylan Ennis outlined regarding X, Tim Beiko of the Ethereum Foundation provided a response worth highlighting.
Ethereum Stakeholder Engagement Initiatives
Dylan Ennis highlighted the amount of control he had with X. Ethereum Developers are using it recently.
He began by stating what appears to be the generally accepted sentiment towards developers associated with the Ethereum Foundation. Dylan-Ennis said these developers and researchers now appear to have enormous power that prevents them from engaging with a broader group of stakeholders, including users, verifiers/stakers, and many others. I mentioned that there is a concept.
In response, Tim Beiko pointed out that it would be inappropriate to describe the current situation as a “lack of broad stakeholder participation.” He suggested there would be an appropriate level of engagement with the community, citing what he had heard some people talking about a “proposed publication.”
Dylan Ennis then emphasized that 10 people is not enough to implement an Ethereum Improvement Proposal (EIP), unlike what is currently available. He mentioned this, citing how the Ethereum ecosystem does not encourage community involvement.
Beiko agreed with him on this point, but also clarified that ETH's front-line developers find it nearly impossible to get input from all stakeholders in the ecosystem. To address these aforementioned challenges, Dylan Ennis proposes that the ecosystem adopt an annual Ethereum general meeting. Holding such a gathering could provide a useful platform for all stakeholders to voice their concerns and submit feedback and contributions to the network.
“It may be interesting to consider opening up the governance process to feedback from a wider range of stakeholders through some kind of feedback mechanism,” Dylan Ennis added.
Promote functional enhancement
These reasonable criticisms are aimed at improving the Ethereum ecosystem.
In light of this interest, the Ethereum-based Layer 2 (L2) protocol COTI V2 White Paper, focused on increasing the confidentiality of the Ethereum network.Similarly, co-founder of the network Vitalik Buterin We recently revealed plans to move forward with a purge to simplify the Ethereum protocol, strengthen security, and improve operational efficiency among other features.
As outlined in the publication, the purge plan is to untangle the complex web of Ethereum's operations while increasing operational efficiency. Despite the concerns, Ethereum developers are engaged in active dialogue to keep the ecosystem optimized. Labeling ETH as a security By the U.S. Securities and Exchange Commission (SEC).
