The Ethereum Foundation is undergoing a major leadership change as Aya Miyaguchi – CEO since 2018 – will step down from her current position. This move comes amid criticism of Ethereum's slow progress in the ecosystem, while losing its edge against rival blockchains like Solana.
Aya Miyaguchi Steps Down as CEO
📢 Aya Miyaguchi will take on a new role as President #EthereumFoundation – a non-profit organization based in Switzerland.
📅 She planned to change roles a year ago, but only now has officially announced it. In the blog post, Miyaguchi shared that this is an opportunity for her to focus on what truly matters to her.
📌 In her new role, Miyaguchi stated that she will continue to support Ethereum Foundation's partnerships, rather than directly managing internal operations.
⏳ It is unclear who will replace Miyaguchi as CEO, but Vitalik Buterin has hinted that a new leadership structure will be announced soon.
Why Does the Ethereum Foundation Need Restructuring?
Ethereum has faced criticism for various reasons recently:
⚡ Ethereum is said to be losing its edge to rival blockchains like Solana.
⚡ Leadership at the Ethereum Foundation has been criticized for being ineffective and not providing enough support for developers.
⚡ Even in a bull market,$ETH still underperforms compared to Bitcoin and Solana.
The current ETH price is about $2,500, down 6% in the last 24 hours, according to CoinGecko.
💰 Although the crypto market has experienced a strong growth phase, ETH is still trading at only half of its peak of $4,878 in 2021.
📉 Meanwhile, Bitcoin and $SOL set new highs last month, further highlighting Ethereum's lag.
Where Will the Ethereum Foundation Go?
📜 Miyaguchi affirmed that the Ethereum Foundation is not a traditional company, but an organization tasked with maintaining neutrality and supporting the development of Ethereum in a decentralized direction.
🌱 "Ethereum does not grow like a machine, but like a garden – thriving thanks to its biological diversity," she wrote.
💡 Under Miyaguchi's leadership, Ethereum has made significant strides:
✅ Transitioned to a Proof-of-Stake (PoS) consensus mechanism in 2022, reducing carbon emissions by 99%.
✅ Focused on Layer-2 to expand transaction processing capabilities and reduce fees.
⚠️ However, issues related to scalability, high transaction fees, and increasing competition remain significant challenges that Ethereum faces.
👀 The crypto community is waiting for Ethereum Foundation's new leadership strategy, as well as how the organization will shape Ethereum's future under increasing market pressure. #anhbacong
