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Ethereum core developer Zak Cole announced the establishment of the Ethereum Community Foundation, which may drive up the price of ETH

ChainCatcher news, according to The Block, Ethereum core developer Zak Cole announced the establishment of a new organization on the X platform ------ Ethereum Community Foundation (ECF), aimed at supporting institutional adoption of Ethereum infrastructure and promoting the value growth of ETH.Cole stated that the ECF has raised millions of dollars worth of ETH, all from donations by individual supporters, which will be used to fund the construction of "trustworthy and neutral" technology projects. He emphasized, "Every grant is open and transparent, every project commits to align with ETH, and all fund allocations will be decided through community voting."The ECF stated on its official website that all supported projects must meet two criteria: immutable and tokenless, and must promote the burning of ETH to align institutional use with the value of ETH holders, thereby maintaining the monetary integrity of the Ethereum network.The foundation will focus on supporting real-world asset (RWA) on-chain applications (such as stocks, bonds, real estate, etc.), as well as "public goods" projects that contribute to ecological development, such as optimizing data availability costs for blob space.The first funded project of the ECF is the "Ethereum Validator Association (EVA)," which aims to empower validators' voice in protocol governance and fund the infrastructure development for validators. More details will be announced in the coming weeks.
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