The Ethereum community is worried of the lack of transparency in the Ethereum Foundation


Ethereum Foundation cryptosuite known as the organization behind the development of the leading platform of smart contracts and Ethereum cryptocurrency. Its goal is to support and promote the Ethereum project and its development, and conduct of the study baseline. Recently, however, the Fund was exposed to frequent attacks because of the lack of transparency.

Eric Conner, founder and host of ETHHub Into the Ether, I raised this issue on his page in social networks. He said it was “easy question” and that the report containing the basic information about the Fund, may be published on a quarterly basis. He also added that this information can be provided “without intermediaries” and that it could end the debate about funding, and without it “it is difficult even to form an opinion” on the activities of the Fund.

“One of the most common problems I see these days is transparency Ethereum Foundation (EF). It’s a simple question, and I think that will be enough to publish on a quarterly basis: the total number of personnel, structure and organization of the high level or the breakdown of team salary avg on the team or type of role, the expected annual expense ratio”

Ethereum Foundation under fire for transparency issues

DCinvestor on Reddit said:

Source: Reddit

Camila Russo, financial journalist, agreed with Conner and wrote on Twitter:

“This is one of the biggest challenges I faced when publishing my book about Ethereum. Two things I would add to the list Eric: the total amount of assets in the possession of the EF, and for more information about how the money is spent. It would be best to publish their audited financial reports.”

Source: Reddit

It is noteworthy that this is not the first case when the Fund is under fire for transparency issues. This problem arose when EF has released a blog post regarding its system of grants under which the Fund finances the platform, contributing to the development of the Ethereum ecosystem.

The message, released in February 2018, has revealed details of the nine projects that were funded. However, the lack of information on the financing of these projects from the Fund led to the fact that people expressed their disappointment in the openness of his actions in social networks.

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Tags: Ethereum Ethereum Foundation


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