Big things are moving for the world's biggest smart contract network. 

Founder Vitalik Buterin just announced some of the biggest leadership changes in the Ethereum Foundation's history, set to take effect sooner rather than later. 

The network had a rough 2024, and the Ethereum co-founder is steering the ship back to its technical roots to try and make the network great again.

Back to Basics

The Foundation's new direction puts technical excellence first. 

Vitalik's not mincing words about politics or lobbying – they're out. 

"People seeking a different vision are welcome to start their own organizations," he stated, making it clear this refresh focuses purely on building better tech.

Cleaning Up 2024's Mess

Last year hit the Foundation hard. 

They scrambled to create conflict of interest rules after researchers took EigenLayer jobs. 

Justin Drake's advisory role sparked outrage. 

Then, Layer 2 networks started eating into profits. 

The Foundation needed a reset, and Vitalik sought to deliver it.

The Dencun Story

March 2024 changed everything when Dencun slashed Layer 2 fees by 99%. 

Suddenly, 55 new rollups popped up. 

Users loved the cheap fees, but Ethereum's base layer took a hit to the amount of money coming in.

Summer saw revenue crash, yet somehow bounced back by winter. 

It's the kind of volatility that pushed Vitalik toward this overhaul.

Following the Money

The Foundation is thinking differently about cash now. 

Proof of Stake already cut power bills by 99.95%, and the Foundation wants to se Layer 2s pay more of their fair share of fees. 

Stablecoins keep transactions flowing, and all this is bringing a new model for keeping Ethereum running without compromising its core mission.

Communication is also getting an upgrade across the board. 

The Foundation's bringing in fresh talent, doubling down on privacy and decentralization, and backing developers harder than ever. 

This is all coming together to improve the Ethereum network for everyone building on it.

Market Reality Check

CryptoQuant's Ki Young Ju said it best: "I'm with Vitalik on this one, even though I think ETH might underperform. He just chose to create value over making money." 

If Ju is correct, that might not be a bad bet for Ethereum. Choosing long-term value over short-term gains could help it turn over a new leaf. After all, the 2017 ICO craze still haunts the network.

A New Leaf or Stuck in the Ether?

Ethereum is still the king of smart contracts.

But Xerox was also the best way to make copies before it went the way of the dinosaur. 

2024 showed that Ethereum isn't invincible, and the network would do well with learning from history... especially after a 99% revenue crash. 

This overhaul needs to do more than just change some names on some doors. 

Hopefully, it's a move by Vitalik to ensure Ethereum stays true to what made it special: technical excellence over quick profits.

The next few months tell the real story. 

But right now, Ethereum's sending a clear message that it’s focusing on building and choosing to forget the hype, at least for now. 

For everyone waiting for Ethereum to get serious again, this might be exactly what they've been waiting for.