Is ‘multi-node’ ETH Labs the answer to ‘shrinking’
#World Cup Predictions: 100,000 USDT Daily #TradFi Trading Strategies Sharing Challenge #HTX Creation Challenge — Post and Win 1,500U 💥 Is ‘multi-node’ ETH Labs the answer to ‘shrinking’ Ethereum Foundation?The Ethereum Foundation (EF) is set to reduce its role in shaping the Ethereum network’s future. And new players are now stepping up, with the latest being ETH Labs, created by former EF members.
According to ETH Labs, its main mission is to “make Ethereum the settlement layer of the global economy.” It bills itself as a non-profit research and development (R&D) for the chain and its governance token, ETH.
The new organization is a broad coalition across the Ethereum ecosystem from DeFi builders, venture firms, institutions, researchers, L2 founders, and more. According to the firm, they’ve come together to “accelerate the next wave of Ethereum adoption.”
To achieve this, the team plans to build new infrastructure and products that the ecosystem needs the most. No details were shared about these products as of press time. But the project added, The new outfit is backed by Tom Lee’s Bitmine, Sharplink, and Joe Lubin (co-founder of Ethereum and Consensys).
Ethereum Foundation retreats
The ETH Labs’ update was not entirely a surprise. Tom Lee recently rubbished claims that the Ethereum Foundation (EF) could face a funding crisis in the next 3-9 months. The community was concerned that the speculated crisis could affect even the planned post-quantum upgrade.
But Lee said that funding had been secured. And, the ETH Labs unveiling might be the ‘secured funding’ Lee referenced. Commenting on the update, Haseeb Qureshi, managing partner at Dragonfly and one of the ETH Labs backers, sai
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