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The Ethereum Foundation has just awarded a $ 5 million grant to Parity Technologies to support the work of the company in building the next iteration of the blockchain network, ethereum 2.0.
L & # 39; organization announced On Monday the funding is a grant "scalability, usability and security", in particular aimed at increasing the work Casper, an update of the proof-of-stake protocol and scaling solution called sharding, as well as light clients, development tools, audits and infrastructure improvements.
The grant will be disbursed in several phases, the foundation said, adding that the first part has already been completed and the rest will be completed when specific targets are reached. These include completing the eWasm compatibility work, shipping a lightweight mainnet portfolio and completing the first two phases of the sharding effort.
Parity is a blockchain infrastructure startup, co-founded by former security chief Ethereum Foundation, Jutta Steiner. It is known for its client software ethereum, Equality Ethereum, which states to be "the fastest and most advanced". The startup also developed several tools, such as Substrate, a service that allows users to create custom blockchains for decentralized applications.
The Ethereum Foundation stated in its statement that it is committed to funding teams and individuals building common infrastructures around the network. In October, it granted nearly $ 3 million to a number of blockchain startups and developers.
The foundation said:
"We were pleased to see our ecosystem gather around and support technical merit and value alignment, and we are committed to using our resources to further this mission, and we do it responsibly through milestone-based grants and projects. , both large and small, commensurate with the potential impact of their work ".
Image of Ethereum through Shutterstock
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