Vitalik Buterin breaks down the cost of the 2023 Ethereum Foundation

Following community questions about the Ethereum Foundation's expenses, co-founder Vitalik Buterin and spokesperson Josh Stark presented the foundation's 2023 expenses in a social media post on August 27.

“For new institutions” – new organizations or entities supporting the Ethereum ecosystem – was by far the largest spending category at 36.5%. Layer-1 (L1) research and development will be covered by 24.9% of the Ethereum Foundation's expenses by 2023.

Stark's L1 expenses include external teams and the Ethereum Foundation's internal research and development, including major Ethereum customers Go-Ethereum (Gate), Solidity Research and Development, DevCon, the Ethereum Solid Incentive Group, and others.

Community development was the foundation's third largest spending category in 2023, at 12.7 percent. The remaining 25.9% of the foundation's capital expenditures are split between applied zero-knowledge operations, which account for a significant 10.4%, internal operations, layer-2 research, and the developer platform.

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Buterin and the Ethereum Foundation accused him of not caring about decentralized finance.

Longtime DeFi developer Cain Warwick recently accused Vitalik Buterin and the Ethereum Foundation of being “anti-DeFi.” The developer said the foundation spends only a small portion of its annual budget on promoting development in the decentralized financial space, and wastes most of its annual budget on “nonsense.”

This prompted Buterin to use decentralized exchanges and a response that emphasized a long-term focus on sustainable projects. The Ethereum founder reiterated his commitment to the decentralized financial sector, but qualified his statements by saying that he has no interest in investing in short-term or unsustainable projects, such as liquid farming or ad-hoc plans to issue new tokens and invest later. Drop on the market.

Ethereum Foundation and ETH Kipu Bring Solidity Education to High Schools in Argentina

As part of its commitment to foster the development of the Ethereum ecosystem, the Ethereum Foundation and ETH Kipu held a workshop in Buenos Aires, Argentina to teach high school students about blockchain technology.

ETH Kipu has announced an initiative to introduce an online course in the Blockchain sector and an online course in the Solidity programming language.

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