New Development on Ethereum: Fundamental Changes Made, Three Main Objectives Listed!

The Ethereum Foundation, the organization behind the Ethereum (ETH) blockchain, has published a new blog post.

In this blog post, the Ethereum Foundation, aiming to separate the responsibilities of the management team and the board of directors, announced a new management and board structure.

According to the latest amendment, the management team will be responsible for strategic and operational implementation, while the board of directors will serve as a security council and oversee compliance in Switzerland. The board of directors will also appoint executive directors and remove them from office if necessary.

With the innovation, it has been officially announced that Hsiao-Wei Wang and Tomasz K. Stańczak have been appointed as co-executive directors of the foundation management.

In the new management team, Bastian Aue will focus on organizational strategy, recruitment, training, and management. Along with Josh Stark, Hsiao-Wei Wang and Tomasz K. Stańczak will focus on the scaling of the Ethereum mainnet (mainnet) and the development of the ‘blob’ structure that stores transaction data, project execution, communication, marketing, and management.

The board includes Ethereum Founder Vitalik Buterin, Chairwoman Aya Miyaguchi, Swiss lawyer Patrick Storchenegger, and Hsiao-Wei Wang, who will serve as a bridge between the board and management.

Vitalik Buterin will continue to provide technical and intellectual guidance on the Ethereum ecosystem, while President Miyaguchi will oversee the foundation’s vision and manage external relations. Lastly, Storchenegger will also continue to address legal and compliance issues.

The Ethereum Foundation recently stated that it has three main goals for the next 12 months. Accordingly, these are listed as “scaling Ethereum layer 1, scaling blobs at layer 2 level, and improving the number and experience of ETH users”.