The Ethereum Foundation announces a $ 5 million grant to Parity Technologies

The Ethereum Foundation, the main player in the development of Ethereum, has announced a $ 5 million loan to Parity Technologies. The concession concerns the work of the company relating to the scalability, usability and security of the Ethereum network, the main aspects of Ethereum 2.0.

Equality was one of the important teams working for the improvement of the Ethereum ecosystem. The team is also responsible for Parity Ethereum, the fastest and most advanced Ethereum client. The Foundation stated that this grant is intended for the team's work on Casper, Sharding, light customers, quality control, audits, infrastructure improvements and development tools.

On their official middle blog, the foundation said:

"With all the metrics, Parity is one of the main technical contributors to the Ethereum project, and they have done so in particular as a self-financing and open source effort since their foundation".

The Foundation stated that the grant program focuses on the funding of teams and individuals working on scalability, usability and security. The Foundation went on to say that this is why "he could not think of a fir tree more applicable to a grant". This is taking Parity's work towards the achievement of new technological advances and their focus on proof-of-stake, sharding and WebAssembly. , into account.

Furthermore, the Foundation will not guarantee $ 5 million for equality in one fell swoop. The Foundation will award scholarships in four different phases, with the first grant already awarded to Parity. The foundation will award the next grant only after the company will mark a new milestone, the completion of eWasm compatibility. The other two milestones established by the Foundation include shipping a lightweight portfolio to the mainnet and successfully completing phase 0 and phase 1 of sharding.

Dinuxen Sha, a Twitterati said:

"Any advantage for the #ethereum network from this concession?"

To this, Vitalik Buterin, the creator of Ethereum answered:

"No. The grant will obviously cover only the development of Parity Bitcoin."

Eric, another Twitterati said:

"Errrr. ETH Foundation Give money to the founders of Parity Tech who also worked at the ETH Foundation. #Capitalism.Providing only what are ridiculous, spirited and greedy ETH types"