With a new grant program, the Ethereum Foundation has awarded over $3,8 million for the development of 28 blockchain-based projects, the development of ETH and ETH 2.0, and more.
In a release Officially, the Ethereum Foundation shared its grant program for the second quarter of this year, which was run by the Ecosystem Support Program Team of Ethereum. During this period, the Ethereum Foundation provided more than 3,8 million dollars to finance educational, informational and technological development projects, aimed at strengthening the technology blockchain, open source projects based on Ethereum, to the study and development of cryptographic projects based on ZKP, and to the development of new protocols for the optimization of Ethereum and Ethereum 2.0.
Likewise, the Ethereum Foundation also provided resources to projects aimed at achieving social impact through blockchain technology. For example, an initiative presented by FOSS Responders The Foundation team was very pleased with this initiative. This initiative allows the creation of FOSS communities where thousands or millions of users of open source projects can stay connected and with a collaborative approach to the development of proposals and funding opportunities in various ecosystems. The proposal arises due to the effects caused by the global COVID-19 pandemic that prevents the celebration of important events in a face-to-face and direct manner.
In May of last year, the Ethereum Foundation expressed that its grant program for 2020 would deliver resources in the order of 30 million dollars, stating that the Foundation is “a resource allocator, a voice in the ecosystem, and an advocate for Ethereum in the world".
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Various categories supported by the Ethereum Foundation
Among the categories of projects supported by the Ethereum Foundation are: 8 proposals focused on the development of Ethereum and Ethereum 2.0, such as the continued development of staking clients Lighthouse y prysm for ETH 2.0, the creation of test networks for ETH 2.0 developed by Schlesi and maintenance in the OpenEthereum repositories and clients for ETH. Likewise, the proposals focused on cryptography and ZKP amount to 8 projects presented by Hubble Project, UniRep, among others to investigate and optimize encryption protocols, improve verification solutions, develop programs for Ethereum students and focus on the study of a zero-knowledge virtual machine, Distaff, which automatically generates STARK-based execution proofs.
Furthermore, the Foundation also supported educational proposals focused on developing knowledge of Ethereum communities. CougerFor example, the Foundation presented an educational proposal to create working groups and meetings to hold corporate discussion workshops to debate topics of common interest, such as the development of open standards and proof of concept for the ecosystem. Similarly, the Foundation approved 3 proposals focused on optimizing developer experiences and 2 proposals aimed at third-party funding.
The Ethereum Foundation manages approximately 0,6% of the total circulating ETH and other cash reserves, which are intended to serve as a funding and capital base for the development of innovative and high-priority proposals for the Ethereum ecosystem.
Contributions to social projects
The Ethereum Foundation's approach goes beyond supporting technological projects that contribute to the development and innovation of the blockchain and its many protocols, but is also allocating part of its resources to funding social projects. For example, Unicef, the United Nations Children's Fund also received funding from the Ethereum Foundation. According to the proposal, the funds are intended to develop an efficient solution that allows for the safe and transparent collection of funds and donations, which will then be used to mitigate the current social and economic crisis.
About the Ethereum Foundation
Understanding how Ethereum works and the many advantages it offers is no easy task. That is why the Ethereum Foundation is a non-profit organization dedicated to supporting and supporting the development of the Ethereum blockchain and ecosystems, without this meaning that it controls the project. Ethereum is an open source and decentralized blockchain similar to Bitcoin, so it does not depend on any particular entity or government.
Thus, as the Foundation itself indicates, its mission is to ensure the development of the project, which means that with each launch and innovation, they are developing new capabilities to help Ethereum advance and consolidate.
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