We’re pleased to welcome @pcaversaccio to the EF Board. A longtime Ethereum contributor, co-founder of SEAL 911, Silviculture Society member, and privacy and security maximalist, pc has consistently championed the values at Ethereum’s core. We look forward to working together to help steward Ethereum’s long-term future. Read more:

Two weeks ago, Ethereum researchers met in Berlin to continue charting the protocol's long-term trajectory, following along discussions with client teams in Svalbard in April. The updated strawmap is at and I attached a picture of it to this post. My own high-level takeaways: * "Lean Ethereum" is not a single one-shot upgrade, it is a collection of improvements that will come online to the Ethereum network over the course of three or four years. But make no mistake, this IS the third major iteration of Ethereum in the same way that the Merge was the second. Almost every major piece of the protocol will be replaced: - Verification through recursive STARKs, rather than direct re-execution. Recursive STARKs become an enshrined first-class core component of the protocol - Replacing everything quantum-vulnerable with quantum-safe alternatives - Consensus: decoupled available chain and finality, one or two-round finality. Theoretically optimal security properties, simpler than today, and faster than today - Multidimensional gas - State: not just tree structure, but what *types* of state are available - Changes to client architecture ... At the same time, simplification, cleanup and future-proofing. And this will all be done in a way that minimizes disruption to existing application. We've done this before (the Merge), we can do it again. * H-star (aka Hegota) is probably Ethereum's last thematically "pre-Lean" fork. Starting from I-star, most of everything we do will have a very strong "Lean" feel to it in one way or another. * Privacy is no longer an afterthought, it is a first class goal. When designing Frames, the mempool, additions to the state tree, we explicitly ask the question "okay, how do quantum-safe, intermediary-free privacy protocol transactions go through this, and what is the overhead?" * Formal verification of everything for security. * FV also makes us much more comfortable with canonicalization (having pieces of the protocol that are directly defined as a piece of bytecode expressed in some language). evm-asm is being written in part to become a canonical proof system for the EVM. * Quantum safety has shifted up a LOT in priority. This adds a lot of work (eg. finalizing a quantum-safe blobs design has become urgent; this work has already been ongoing for months) * Probably the single most disruptive part of the plan is the changes to state. There is growing consensus around leaving present-day-style "dynamic state" mostly unchanged, but scaling it only a medium amount, and adding new types of state that are more scalability-friendly (eg. no need for builders to sync/store all of it) but more restrictive, and that will scale a large amount. eg. possible Ethereum in 2030: 2 TB of present-day-style (dynamic) state, and 100 TB of new-style (scalable but restrictive) state This "new-style" state would work very well for ERC20s, NFTs, many defi use cases, but not eg. highly "central" objects like Uniswap contracts, or onchain order books, or other complex things (which are crucial for Ethereum but which only take up a small percentage of state) Hence, it will not be *necessary* to rewrite any apps, but it will be *very cost-effective* to eg. rewrite an ERC20 token into a newer design that uses a new type of UTXO storage that is currently being explored, so that it will have >10x lower txfees. Design of these new state types (current ideas: keyed nonces, ring buffers, UTXOs, statically accessible state, temp state) is an area where we will need a lot of feedback from application developers (incl. privacy-friendly application developers) and probably several rounds of rethinking and iteration. * In the context of a much larger total state size, we need to figure out the incentive issues around who stores this state and what motivates them to. Even saying "each node stores 1%" is not good enough - why do they store that 1% and why are they willing to serve it? This is being elevated as a first-class research area. * Ethereum will need to have a "VM" other than EVM in one form or another - at the very least, we need something like leanISA for recursive STARKs - and the gains are large in exposing it to users so that we support programmable privacy and better scalability. Right now, the most likely contenders are leanISA and RISC-V. My own ideal is that in this world, we adjust the protocol so that the EVM becomes a high-level-language compiler-level feature, and the protocol only "sees" RISC-V / leanISA directly. But this is still far away. * Gas limit increases, blob increases and slot time decreases will happen many times over the next ~5 years. We expect a large gas limit increase with Glasterdam. Each step of increased scale or decreased slot time is a matter of getting to the point where it is safe to do it, which comes from a combination of client optimization and protocol changes. Ethereum is CROPS. Ethereum is scaling. Ethereum is reinventing itself. Onward.

Today, the EF is changing shape, concluding a months-long process of reorganization as part of the implementation of the Mandate and the Treasury Management Policy. We come out of this process with the structure, activities, and people necessary for execution on the critical tasks ahead of us, but also with 54 fewer colleagues, roughly 20% of the EF, many of whom will be finding ways to contribute to Ethereum from outside the EF in the coming weeks. Find a brief introduction to the new structure, and learn more about how we are supporting the people who are leaving in the full post below:

⚠️ Lighthouse v8.2.0 is a high-priority release containing fixes for several security vulnerabilities, as well as optimisations and new features. All beacon node users should upgrade as soon as practical. Validator client users should review the fee-recipient and graffiti changes below before upgrading. This release also contains substantial Gloas preparation, Fulu data-availability networking improvements, and new standard API support.

Announcing Ethlabs: a non-profit R&D lab for Ethereum and ETH Our mission is to make Ethereum the settlement layer of the global economy. The internet became global because shared protocols created a common language between networks. Private systems remained useful, but bounded. Finance is approaching a similar moment. As value, assets, and markets become digital, the world needs shared settlement infrastructure. Ethereum is uniquely positioned to become that shared base layer, the neutral foundation on which users, institutions, and agents can transact without intermediation. What we believe: • We believe credible neutrality matters. Ten years of uptime and the lowest counterparty risk. Ground that cannot be pulled away by any one country, institution, company, or person. • We believe ETH matters. The most valuable, programmable store of value. A decade of broad distribution, deep liquidity in onchain markets, and maximally trustless asset on Ethereum. • We believe DeFi matters. Markets, liquidity, credit, exchange, and coordination, open to anyone. • We believe adoption matters. Principles do not change the world until people benefit from them. We sit between two worlds: real usage from the builders at the frontier, and the protocol that has to support it. We work with users, applications, wallets, L2s, infrastructure teams, institutions, ETH holders, core devs and researchers, then turn what they actually need into protocol work, shared standards, infrastructure, and shipped products. Ethlabs is independent but Ethereum is a shared project. We are one node in a much larger network of stewards. This is the multi-node future. We have spent the better part of the past decade contributing to Ethereum core research and development. We are opinionated and transparent. We move with urgency, learn in public, and course-correct when we’re wrong. We are building a lean, talent-dense team for people who want to do the most important work of their careers: join@ethlabs.org

1. Intro Vitalik recently wrote about where the EF should go; Aya added a note to explain how we got here, and why. I’ll write about the execution. We now have enough clarity to stop treating “what is the EF for?” as an open-ended question. Our mandate is clear: The EF exists to ensure Ethereum is, becomes, and remains real permissionless infrastructure for self-sovereignty: censorship (and capture) resistant, free and open source, private, and secure; and capable of supporting sovereignty-preserving coordination at scales where trusted institutions hitherto have been unavoidable. The following are my thoughts on some of the points that follow from the mandate and how we are translating it to action. But first, a short reminder about 2. What the EF is not for We are not here to optimize for EF importance, corpo/pol appeal, or ecosystem popularity. We are also not here to please short-term speculators, prop up TBTF neo-SIFIs, market every app on Ethereum, help anyone look good to their crypto or investor friends, or provide on-demand entertainment for dinner parties and private retreats. 3. What the EF is for: Eliminating weaknesses We are here to defensively strengthen places where Ethereum is, or can still become, extractive, totalizing, or vulnerable to cartel or state capture, or authoritarian tools of surveillance or coercion. We will base our actions on a full examination of what Ethereum is and can be at the protocol layer (what is actually running as “Ethereum”), the access layer (what users use to interact with the protocol), the user layer (the end-users who need and will need Ethereum), and the institutional layer (the intermediated paths that scale self-sovereign usage). The EF exists to harden every surface of Ethereum, including those where Ethereum can remain formally permissionless while becoming practically captured. Some obvious surfaces are the transaction pipeline, staking and network security, access layer standards and interfaces, self-sovereignty norms, privacy expectations, institutional adoption patterns, and social layer governance processes. The primary concerns are similar across most of them: does the status quo and its future trajectory minimize trusted dependencies, minimize points of leverage and capture vectors, make user privacy the default, preserve exit, and make trust assumptions legible? The work starts with the EF itself. We are moving compensation and major financial relationships toward ETH and mandate-compliant Ethereum-native stables, with exceptions where positive law or unavoidable operational constraints require exceptions. Rather than a purity ritual or instruction for people to take unmanaged personal risk, it is robustness, alignment, and product pressure. If the EF’s work is to make Ethereum usable as infrastructure for self-sovereignty, everyone at the EF will increasingly live inside the constraints of the system the EF exists to improve: wallet UX, volatility, accounting, privacy gaps, payment friction, stablecoin trust assumptions, recovery, dependency risk, etc. If we can’t use these tools ourselves, it is unrealistic to expect others to. Ethereum is already mature; those who do not depend on the user-facing stack have no business trying to shape its future, at any layer. The transaction pipeline is next. Preventing toxic MEV capture is core EF work, not a peripheral market-structure concern. Transaction supply, ordering, inclusion, block construction, propagation, and settlement are part of Ethereum’s neutrality boundary. Some MEV may persist as an adversarial phenomenon the protocol contains, but it must be absolutely minimized and, for that to be possible, we must guard against the acquisition of unwarranted influence by its beneficiaries. If credibly neutral execution is subverted by privileged orderflow, cartelized builders, trusted relays, opaque routing, or validators outsourcing into a narrow supply chain, Ethereum will look permissionless while users experience it as intermediated at the moment value moves. EF protocol work will therefore prioritize lower barriers to block building and validation, stronger inclusion guarantees, reduced extraction opacity, competitive transaction pipelines, user-facing legibility of trust assumptions, and more aggressively exploring the open orderflow solution space. None of this is simple. A good solution in one place can aggravate problems elsewhere. FOCIL is good for censorship resistance, but it may introduce more cross-block MEV. While ePBS solves the relayer trust problem, we must make sure that its implementation does not inadvertently obstruct long-term solutions to even larger problems. It would be unacceptable, for example, if ePBS enshrining the builder economy ends up making it harder to reduce reliance on the private orderflow that has emptied out the public mempool. Encrypted mempools may not only reduce pre-execution transparency and pending orderflow visibility, but also shift competitive advantage to new privileged actors, including specialized hardware operators in some designs, while adding protocol complexity. In order to avoid wasting time playing whack-a-mole, we must commit to solving the extraction problem at a whole system scale. Doing so will require creativity, courage, and the understanding that failure to solve this problem is unacceptable. If we fail, we will have left in place an unnecessary barrier to institutional adoption, but, more importantly, we will also have surrendered a core part of the promise of Ethereum - the replacement of extractive middlemen with permissionless, credibly neutral infrastructure and competitive markets. That must not happen. MEV is likely to be the next major front in the cypherpunk war. We must set ourselves up to win here. Privacy is just as fundamental. A public ledger without serious privacy defaults is a surveillance substrate with settlement guarantees. That is not an acceptable end state for the world computer. Unconditional privacy will be readily available across Ethereum, with programmability on top for selective disclosure, proofs, auditability, compliance logic, reputation, governance, identity, and other constraints chosen by users and their communities. The temporal order matters: unconditional privacy must exist first, opt-in constraints come second. It is also important to avoid forcing users to assemble a fragile stack of special wallets, RPCs, bridges, apps, compliance providers, and operational habits to attain privacy. Deep privacy must be more secure than this. Privacy is a condition for Ethereum’s viability as freedom-respecting coordination infrastructure and as such must be robust. Staking must be treated as protocol infrastructure risk. Staking is not merely a yield product, and liquid staking is not merely an app-layer market. If stake, liquidity, validator access, DeFi collateral, and governance influence concentrate around a small set of issuers or operators, Ethereum’s security layer becomes vulnerable to capture through capture of the economic layer around it. EF will support research, specifications, and designs that keep staking permissionless, private where possible, plural in operation, and resistant to intermediaries becoming permanent control points. The access interfaces are where users access either the protocol directly or through intermediated defaults. The primary problem to solve here is not getting Ethereum into more rooms directly, but making its users, both end users and institutions, more self-sovereign and less susceptible to coercion, and avoiding normalization of soft coercion in exchange for reach. EF will not help Ethereum become more acceptable by sanding off the properties that make it uniquely valuable. Ethereum does not need to become another permissioned settlement backend with better branding. It needs to show, in production, that self-sovereign coordination at scale is possible. Across Ethereum, the EF’s defensive work seeks to ensure that Ethereum is infrastructure people can still use when counterparties fail, platforms censor, governments overreach, intermediaries extract, and coordination problems become infeasible for trusted systems to handle. A core part of that is to make that infrastructure secure and robust against capture at every layer wherever capture opportunities can hide. 4. What the EF is also for: Seizing opportunities Shoring up the fundamentals is not enough. Ethereum’s potential is still largely unrealized, but that does not mean that the path ahead is going to be straight. Opportunities must be seized when the time is right. At this moment in time, a number are visible, including: * Ethereum becoming the first quantum-resistant global infrastructure. Ethereum researchers will lead the post-quantum cryptographic migration before the threat becomes urgent, not after it becomes a governance emergency. That means hardening Ethereum’s cryptographic foundations while there is still time to design carefully. The same applies to other long-horizon risks, where waiting for market demand means waiting until the window for principled design has already closed. * Verifiably self-sovereign stack, from soup to nuts, whether local or remote, with no censorship or extraction openings: browsers, wallets, intents, broadcasts, orderflow, inclusion, block construction, proposal, proving, exit, and recovery. Minimal MEV, and zero toxic MEV entrenchment, either in or around the protocol. No execution layer that is formally permissionless but practically gatekept by privileged supply chains. If there’s a funnel towards an extractive private lane, there’s other options that keep the game live. The goal is not only to prevent extraction or capture, but to make credibly neutral execution competitive enough that serious users prefer it. * Making ETH normal digital cash: a private, dignity-respecting, debasement-resistant and surveillance-resistant medium of exchange and store of value, as well as the native asset of private computation and private coordination for both humans and their agents. If Ethereum can make private economic life and private institutional life possible without routing users back through the friction and potential abuse of custodians, surveillance vendors, or permissioned ledgers with softer branding, as well as provide a venue for secure and competitive machine economics, the value unlocks will be immense. * Personal wallets with personal AI agents that users can actually own and run on their own personal computers. Not your keys, not your coins; not your model, not your mind. As agents become interfaces for more economic and social action, the question of who owns the wallet, the model, the memory, the policy, and the signing authority becomes an existential question about sovereignty instead of UX details - we are all users above any other roles, and no one at EF will forget this. * Institutional and enterprise use cases where Ethereum wins by not disappearing into an invisible backend, gatekept by intermediaries or terrible UX, and by not compromising into a compliant fintech rail with web3 branding. Rather, we will win through proving that credibly neutral infrastructure can handle disintermediated coordination so competitively that trusted intermediaries have to meet Ethereum users on Ethereum’s terms. * Security-preserving scaling. L2s and related infrastructure will be able to meet institutional-level needs without accepting dependencies on closed operators, opaque sequencing, custodial UX, or upgrade committees that users cannot realistically exit. Scale is not throughput alone. Scale is the guaranteed availability of self-sovereignty under real load. We are ensuring Ethereum remains the hardest bedrock for settlement, local and worldwide; and beyond that, a civilizational ledger and execution substrate to stand the test of time. When future civilizations speak of the infrastructure they inherited from the Antiquity of the Information Age, their first example should be Ethereum. Ethereum will outlast all of us. More than enough people watching understand this. Many wondered why it needed saying at all, but it did. If you don't believe us or don't get it, we don't have time to try to convince you, sorry. 5. Addressing departures There has been a lot of online speculation about departures from EF, both before and after the mandate. Some people resigned, others were terminated. Some departures were about strategy, some about role fit, some about normal institutional change, and some simply about people deciding that their best work for Ethereum should happen somewhere else. We will not litigate individual personnel matters on Twitter. That is the default because it is better for EF, better for the people involved, and better for Ethereum. People who contributed through EF deserve dignity on the way out. They do not deserve to have their employment history turned into factional content. Where possible, we have let people describe their departures in their own words as a matter of courtesy, and not concession. If public claims materially mislead people about EF’s direction, decision-making, or mandate, we may correct the record at the level of policy, process, and institutional facts. We still will not turn personal files into public spectacle. Ethereum is permissionless. People may disagree, criticize, compete, fork, and build elsewhere. We intend to keep exits dignified and expect others to do the same. It will suffice to say that we are thankful for what all contributors have built; we will continue to do work Ethereum needs. 6. Addressing EF spinouts Some work should and will leave the EF in the months to come. We hope and expect this process to result in some excellent work being done in service of scaling self-sovereign adoption, but we also must take care lest it becomes an abdication of responsibility or an excuse for undisciplined spending. Some work is not mandate-compatible and should not be carried forward with EF funds or EF endorsement, either inside or outside the Foundation. The efforts carried out by the spinouts will vary widely. Some efforts will leave EF because another org would be a better home for them; others will leave because markets should decide on their worth. Some will leave because they are not compatible with the direction set out in the mandate; others because they are useful but not EF work. Just as a spinout is not automatically good because it reduces EF headcount, former EF affiliation is not a claim on EF funding. The question we ask when deciding on funding is not “did this come from the EF?” But, rather the questions that should be asked about all external funding: “Is this work mandate-critical? Would the EF do this work internally if it had the organizational and financial capacity? Is there no better natural home? Can the external party execute without increasing capture risk, private extraction, opacity, or dependence? Does supporting it reduce Ethereum’s dependence on the EF over time, without prematurely transferring resources and legitimacy to new organizations and thereby risking operational failure or mission drift?” EF funding for work being done externally can be appropriate when it is a capacity solution for mandate work - work the EF should responsibly want done; work that protects CROPS; work that advances self-sovereignty and scales it; essential work that no actor can or will reliably do without EF funding; and work that can be scoped, reviewed, and held accountable without creating a permanent dependency. Such funding is not appropriate when it is a lazy continuity payment, a friendship payment, a reputational hedge, a way to avoid making a hard decision, or a way to support work that is not compatible with the mandate. EF has finite funds, finite legitimacy, and a specific mandate. We will spend all three as if they matter. When we say “EF is one of many nodes”, we mean that we intend to be one of many nodes working to keep self-sovereignty and its scaling the North Star, and working to keep CROPS the undisplaceable first-class properties of the network. We don’t mean that we will support orgs or projects with different priorities. Diversity that leads to ecosystem resilience, coordination cost right-sizing, and better decision-making is good. Diversity that leads to mission drift is not. We are not neutral on the direction Ethereum takes. CROPS are not just things we “believe in”, they are characteristics we understand must be thoughtfully prioritized at every fork for Ethereum to realize its potential. We are partisans for and builders of something of such incredible neutrality that it will fundamentally reshape the world we live in; we wish to work with everyone committed to this shared purpose.

.@hwwonx has been a steadfast contributor to the Ethereum ecosystem for a decade. I still remember her early days in the Ethereum research community, first outside the Foundation and then inside it, and the thought and care she put into making Ethereum research and consensus work more organized and legible. At the same time, she put a lot of work into building an excellent Ethereum community in Taipei, with people and events that were among my favorites. Last year she, along with @tkstanczak, voluntarily took on the burden of what is perhaps the most challenging position in the Ethereum Foundation, at one of the most challenging times for Ethereum - and realistically, a challenging time for all of humanity. She handled the task skillfully and gracefully, and has constantly strived to find and insist on outcomes that are right both for the Ethereum protocol and for the human beings that build and maintain it. I look forward to her next adventures.

Thank you for all you've done for us! You were put in an impossible situation and still made it work. You always stood by our side and advocated for whats best for the Protocol. I think I can speak for all EFers in that we will miss working with you greatly!

Thank you, Hsiao-Wei! 士不可以不弘毅。A heavy responsibility, borne with grace. The EF and Ethereum is much better off for you having been co-ED. Your example and your counsel will be valued in the work ahead.

After my sabbatical, I have decided to step down as co-executive director and board member of the Ethereum Foundation (@ethereumfndn), effective today. That time gave me space to reflect on my priorities and the kind of life I want to build next. During my break, Bastian (@aerugoettinea) guided the transition with care and thoughtfulness, and I appreciate the work he and many others have put into that process. Over time, I've come to feel that this is the right moment for me to step back. Serving as EF co-executive director let me see the bigger picture of how the Ethereum community collaborates. I'm proud of what we've accomplished, not only at the EF, but across the builders, researchers, educators, node operators, validators, users, and many other contributors who have helped build, maintain, secure, and use the infrastructure and applications on top of it. What I will remember most is the people behind the work. We come from different places, speak different languages, and build different things. But the purpose that brought so many of us here remains the same: building a world that no one can shut down, making systems more open, resilient, and more access to anyone, anywhere. Ethereum has always been bigger than any one role, any one organization, or any one moment. Its strength comes from those who keep building permissionless infrastructure across the ecosystem to unlock freedoms that didn't exist before. To everyone at the EF and across the Ethereum community who made this journey meaningful, memorable, and often unexpectedly fun: thank you. I'm grateful for the dedication, integrity, and care so many people have brought to this work. I'm still working out what comes next, though I expect to spend more time closer to home. I remain a proud member of this community, whether contributing from inside the EF or beyond it. What we've built was handed to us by those who came before, and it is ours to carry forward. I'm grateful to have been one runner among many, and I'll continue to cheer for what comes next. Thank you, all of you. Hsiao-Wei Wang

you can fully destroy perfect onchain privacy by leaking metadata (IP, user-agent, timezone, language settings, etc.). using Tor for any onchain interaction is one way but it's very easy to also fingerprint you as Tor user. what Ethereum needs is its own browser that _natively_ embeds Kohaku (as wallet) with the following system invariant: everyone using the same privacy profile (let's call them "Fingerprint Profile") looks exactly the same to websites, because the browser forces all observable behaviour into a small number of _standardised_ (but not Tor-identifieable) patterns. we can only win this if we control the kernel space (i.e. browser) and not only the user space (i.e. extension). also, my current thinking is that a browser is the interface to the internet and if we want to "scale" privacy in some form, a browser is the perfect distribution channel (private OSes will be much harder for example).

Ethereum's roadmap got real in the last 12mo: PQ, scaling, latency, privacy, AA, minimization, hardness. A lot hinges on p2p networking. A few weeks ago I decided to leave the EF to keep advancing this layer from the outside. Last week was my last day; the end of a memorable chapter in the arena with some of the most principled, humble, and talented people in this space. The Protocol cluster is in great hands with @corcoranwill, @kevaundray, and @fredrik0x. The work continues, no time to skip a slot. Core Devs got pilled on ethp2p at interop, and so should you. 👇

Excited to announce this evolution of Protocol, the @ethereumfndn teams stewarding, researching and developing the Ethereum protocol. After our re-launch of Protocol in June last year, @TimBeiko, @ralexstokes and I are now passing the torch to our talented colleagues @corcoranwill @kevaundray and @fredrik0x. They are taking on the task of delivering on Scaling, UX and Hardness objectives, with the protocol strawmap in their pocket ( --- It is also time to announce that I made the decision to leave the Ethereum Foundation, my home for the past 6.5 years ❤️ I am so grateful for this opportunity I had, to work with amazing individuals, on the most impactful project there is. Looking back from when I started (here it is -> it has been a wild ride from early EIP-1559 work, to the Merge, to MEV markets, to staking, finality, interoperability and UX; and from my beginnings in the Robust Incentives Group to co-leading Protocol for the past year. Over this past year, our Protocol priorities, particularly our "Improve UX" work, shifted my attention to nearer-term questions. Throughout, I've been excited to take on a more product-centric view. Making Ethereum's unique features more available to users today is on my mind; so is participating in the plurality of ways that Ethereum gets built. I'd love to hear from friends old and new about what excites them at the moment, and share where I'm at. Please reach out!

Welcome to DS4, a specialized inference engine for DeepSeek v4 Flash. This project would have been impossible without the existence of llama.cpp and GGML and the work of @ggerganov and all the other contributors. Thanks!

⚡ Meet Qwen3.6-35B-A3B：Now Open-Source！🚀🚀 A sparse MoE model, 35B total params, 3B active. Apache 2.0 license. 🔥 Agentic coding on par with models 10x its active size 📷 Strong multimodal perception and reasoning ability 🧠 Multimodal thinking + non-thinking modes Efficient. Powerful. Versatile. Try it now👇 Blog： Qwen Studio： HuggingFace： ModelScope： API（‘Qwen3.6-Flash’ on Model Studio）：Coming soon～ Stay tuned

After 5 years on the @ethereumfndn leadership team, I’ve decided to step away and pass the torch. I made this decision in early March, and will wrap up my work at the end of April. I’ve made no plans for the future, other than taking a long break to reset and spending time with my family & friends. Working for Ethereum at the Ethereum Foundation has been a great honour. I’m proud to have worked with great people inside and outside of the EF, and proud of what our community has accomplished together. And I’m grateful to have worked with @aerugoettinea, @dannyryan, @hwwonx, @tkstanczak, @tjuliang, @VitalikButerin, and @AyaMiyagotchi on the leadership team over the years. We share a vision and a set of values that mean I will always be your ally and your friend. This journey has been a gift. I have had the rare privilege of seeing up close how small teams of great people can do the impossible. It has changed how I see the world and my place in it. We do not need to accept the world as it is, or where we fear it is going. That is not hope, it is definite: I have seen the proof. The Ethereum ecosystem has reliably done things the world told us was impossible. It is easy to forget how much real fear and doubt there was that Ethereum would never launch, that DeFi would never work, or that Proof of Stake would never ship. The lesson is not that our success was guaranteed and the doubters are always wrong, but that truly wicked problems can be overcome when great people make an extraordinary effort. You must make an extraordinary effort.