Michaela Alvez
Lido founder Konstantin Lomashuk has clarified that a “Second Foundation” has not been established yet, following earlier comments that suggested its creation, amid ongoing changes to Ethereum’s administrative structure.
In a January 22 post on X, Lomashuk quoted a Second Foundation X post which featured the phrase “hello world computer.” However, several hours later, Lomashuk clarified that his post was simply a tweet.
“No actual second foundation has been created yet. Ethereum is the ultimate world computer, and every Etherean can help it grow, evolve, and succeed,” Lomashuk clarified in his recent post.
Lomashuk’s gesture led many to believe he was confirming his intention to move forward with a concept he had hinted at in December 2024.
“The idea of a ‘Second Foundation’ is more about creating competition between different groups, giving the community a choice,” Lomashuk stated at the time.
Currently, the X page for the Second Foundation offers minimal information about the potential project.
The move comes amid criticism from both the Ethereum community and the broader crypto space, with many arguing that the Ethereum Foundation (EF) is overly centralized and too focused on layer-2 networks, rather than the core ETH layer itself.
Furthermore, Aya Miyaguchi, the Ethereum Foundation’s executive director, faced significant harassment from members of the community. This behavior was condemned by co-founder Vitalik Buterin, who reaffirmed his control over Ethereum Foundation decisions until planned reforms establish a formal board.
Lomashuk further emphasized that should the Second Foundation come to fruition, it would need to have a clear and distinct purpose. He said that any new entity must complement, rather than undermine, the significant work already being done by the Ethereum community and its current contributors.
The foundation would aim to support the network’s growth without disrupting the ongoing efforts of those dedicated to Ethereum’s evolution.
The idea of establishing a Second Foundation to challenge the Ethereum Foundation sparked division within the community, with some supporting the initiative and others expressing concerns about its potential impact.
A user identified as Cryptoxiao argued that Ethereum’s success is rooted in its cohesive vision.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
