Ethereum developer Zak Cole is spearheading a new initiative called the Ethereum Community Foundation (ECF), which will primarily work to enhance the digital asset’s economic value. The initiative was announced during the Ethereum Community Conference in Cannes, France. Founded by Cole and a group of ecosystem supporters, the ECF has reportedly already raised “millions” and intends to allocate its treasury to projects that enforce immutability, avoid issuing new tokens, and implement mechanisms to burn Ethereum (ETH).