Zak Cole, a leading Ethereum -Kern developer, has launched a new initiative to stimulate the expansion of the Ethereum network and to increase market value.
In one speech During the Ethereum Community Conference on 2 July Cole introduced the Ethereum Community Foundation (ECF), an independent entity that focuses on supporting Ethereum as an active and pushed the price to $ 10,000.
What is the Ethereum Community Foundation?
Cole emphasized that the ECF mission is to finance projects aimed at strengthening the Ethereum ecosystem.
The ECF website stated that the project distinguishes itself from the Ethereum Foundation (EF) by concentrating on initiatives that the EF has not been able or was not willing to pursue.
According to the ECF website:
“ETH prize has been overlooked for too long. The ECF is here to change that. We are a mission aimed at increasing its value through education, financing, outreach and ecosystem support.”
To achieve his ETH goal of $ 10,000, Cole explained that the ECF would follow a more direct approach in supporting ETH holders and promoting the growth of the ecosystem.
This includes financing projects that are aimed at improving the infrastructure of Ethereum, collaborating with governments and institutions and giving priority to actions that maximize the ETH value and minimize the issue of new tokens.
He also pointed out the importance of the value of ETH, and stated that the price is more than just speculation and actually plays a crucial role in supporting validators, securing the network and making ETH possible to handle worldwide transactions.
According to him:
“ETH up to 10k is not a meme. It is a requirement, a benchmark, a mandate. A market capitalization of $ 1.2 trillion makes ETH competitive with the monetary role of Gold. Price is not only speculation. It finances validators. It protects the network. It deserves the right to arrange the worldwide value.”
In the meantime, the establishment of the ECF criticizes the Ethereum Foundation, in particular the decision to sell ETH earlier this year, some of which believe it contributed to a dip in the price of the active.
In response, the EF has introduced a new leadership team and now uses a more community-related approach, including lending ETH for Stablecoin liquidity via platforms as Aave to prevent further sale.
