The Ethereum Foundation announced a $ 5 million grant to Parity Technologies, a company based in the UK, according to a post on the official Ethereum (ETH) blog published on January 7th.
According to the post, the grant is for scalability, usability and security work. That is to say, this money will "fund the work of Parity on Casper, sharding, light clients, development tools, quality control, audits and infrastructural improvements".
In addition, the post explains that the funding will be delivered in "different tranches, the first of which supports the development that Parity has already completed". The other parts of the funding will be delivered upon completion of the standard eWasm compatibility work, a portfolio light for the mainnet and successful completion of phase 0 and sharding phase 1.
The parity is known for having developed one of the best known clients of Ethereum.
As reported by Cointelegraph in November 2017, a user of Ethereum's portfolio of Parity would have inadvertently made $ 280 million in ETH unreachable using a vulnerability contained in the underlying smart contracts.
In April of last year, when the funds were worth $ 360 million, a one-week vote on the reversal of this incident led 55% of the participants to vote against, with the consequence that the funds remained where they were.
In October, Parity unveiled a live blockchain launch in just fifteen minutes on a brand new Mac, which Parity's founder would snatch from its packaging as part of the demonstration in an effort to highlight the speed of the entire platform launch process.