- The Ethereum Foundation has released a new manifesto reaffirming its commitment to cypherpunk principles.
- The move has divided supporters, with critics arguing it reverses a previous focus on commercial success.
- The debate highlights a core tension between ideology and institutional adoption in the crypto industry.
- ethereum’s price performance has significantly lagged behind Bitcoin since the last bear market bottom.
- New commercially-focused rival blockchains, like Tempo and Canton Network, are emerging as competitors.
The Ethereum Foundation released a 38-page manifesto on Friday, March 13, sharply dividing its community and reigniting a fundamental debate about the blockchain’s future. The document reaffirms the nonprofit’s commitment to cypherpunk principles like censorship resistance and privacy as non-negotiable.
However, many Ethereum proponents argue this signals a reversal from the commercially-focused direction pursued under former co-executive director Tomasz Stańczak. During his tenure, efforts were made to engage institutions and support apps on the blockchain, according to the foundation’s mandate.
“The EF Mandate is a 180 from the direction the Foundation was heading,” said Kydo, a DeFi veteran. Consequently, prominent figures like former researcher Dankrad Feist have criticized the move.
Meanwhile, the manifesto’s ideological focus contrasts with Ethereum’s lagging commercial performance. Since the last bear market bottom, Bitcoin rallied roughly 348% while Ethereum gained only 130%.
Critics like Awa Sun Yin of Anoma called the manifesto “unhinged,” arguing it ignores the industry’s practical needs. Supporters, however, defend the principles. Security researcher Pascal Caversaccio stated, “Principles matter because without them every system eventually becomes another way to fucking control people.”
This debate intensifies as Ethereum faces new commercially-driven competitors. These include Tempo, backed by Stripe, and the Canton Network, supported by major banks.
Evgeny Gaevoy, CEO of Wintermute, suggested the foundation is uniquely positioned to uphold cypherpunk ideals. He noted this won’t benefit ETH’s price short-term, but could determine long-term success, according to his comments.
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