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Grants Worth Millions of Dollars Awarded by Ethereum Foundat...

Grants Worth Millions of Dollars Awarded by Ethereum Foundation

Earlier this week, the Ethereum Foundation announced their first grants to help bolster the Ethereum ecosystem. Thirteen projects received more than $2.5 million to work on scalability, security, development experiences, user interface study and other derivatives of the ethereum blockchain, according to a Wednesday announcement.

The Foundation said:

“we hope that these grants will signal to the community what we think are the missing pieces in the ecosystem that need more support.”

The Foundation continued, saying:

“is here to serve teams and individuals that are working to prevent a tragedy of the commons.”

The grants enable developers can keep working on their projects, empowering the innovative developers in any way possible is what the Ethereum Foundation aims to achieve first and foremost. Collaboration is critical in the way of blockchain technology and any feature derived from it.

For the community, these grants also play a big role. The “decisions” made by the Ethereum Foundation highlight projects worth keeping an eye on. No ecosystem is complete without looking at the technological implications from all different sides.Several key aspects of the Ethereum network need more support. With these grants, it becomes a bit easier to address those areas and support the people who attempt to improve the network as a result.

Especially in terms of scalability, usability, and security, there is still room for improvements. The Ethereum Foundation will continue to issue grants to solidify all of these different aspects moving forward. It is important to note support projects have no ICOs, token sales, or anything along those lines. These are all projects designed to make Ethereum better and stronger.

Quite a few projects successfully received a grant with scalability having been a major area of focus. L4 Research, Prysmatic Labs, Barcelona Supercomputing Center,  Turbo Geth, and Plasma Taiwan Dev all received grants of various sizes. These projects focus on sharding, state channels, and Plasma.

The Ethereum Foundation helps all winners with technical advice, a platform to share their work, and funding that doesn’t come with any strings attached.

Some of the big recipients of funding were L4 Research who received $1.5m for their work on state channels, Runtime Verification received a $500,000 grant for their work on Casper and Prysmatic Labs were awarded $100,000 for their work on sharding.

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