StarkWare Co-founder Shares Insights on Ethereum Foundation Debate

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Ethereum Foundation Turmoil: StarkWare co-founder Ben-Sasson commented on the Ethereum Foundation's leadership changes and funding pressures, stating he does not support criticism of the foundation while acknowledging Ethereum's strengths and political dynamics, reflecting a nuanced view on its future.
Importance of Technical Choices: He highlighted StarkWare's first paid project in 2019 and 2020 focused on developing a post-quantum secure, scalable ZK-STARK system for Ethereum, aimed at addressing future quantum security risks, showcasing the long-term impact of technical decisions on the ecosystem.
Funding Risk Warning: Former Ethereum Foundation contributor Trent Van Epps warned of a potential funding gap for core development within three to nine months, although Tom Lee dismissed this concern as having “zero chance,” underscoring the vulnerabilities within the Ethereum ecosystem.
Merit Over Politics: Ben-Sasson argued that the Ethereum ecosystem places too much emphasis on team alignment, advocating for a governance system that prioritizes technical merit over social labels, reflecting a profound consideration of Ethereum's governance challenges.

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Technical Analysis for ETH

Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Ethereum (ETH) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1449.744	1552.322	1644.384	1746.962	1839.024	1941.602	2033.664
Fibonacci	1552.322	1626.674	1672.61	1746.962	1821.314	1867.25	1941.602

About ETH

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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