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Main aspects:
Phase 0 of the new network, Beacon Chain, would be activated on December 1st.
The funding covers initiatives that are at any stage of development.
The Ethereum Foundation has launched an invitation to sponsor proposals and projects in development related to the new Proof-of-Stake (PoS) network, Ethereum 2.0. The non-profit organization has invited programmers and ecosystem enthusiasts to offer “community grants”.
Stakeholders have until December 22 to present their initiatives regardless of what stage of development they are in. That is, programmers can participate with ideas, proofs of concept, proposals already in progress or completed projects, as reported by the foundation on its website.
There are three basic requirements that all initiatives must meet and they are: they must be presented in English, the the work must be open source with a free license and, if the proposal is selected, it must be available on the Internet via a URL.
The call is defined by seven selection criteria which include: potential impact on the new PoS community, quality of contribution to the new participation system, clarity and organization in the documentation, news on how to reduce resistance to the new scheme and visualizations that help the public technician to understand the network, for example.
“The goal of the program is to help contribute to the long-term health of the community of ETH2 participants and validators. If your proposal progresses towards that goal, let us know! “The statement reported.
It is unclear what the grant amounts are or when they might be announced to favorites. Enthusiasts wishing to participate must complete a file digital form and answer the 23 questions of rigor, ranging from personal data to the description of the initiative.
The Ethereum project and its developers have decided in recent years to migrate their smart contract blockchain from a protocol based on a Proof of Work (PoW) algorithm to a Proof of Stake one.
The network reconfiguration plan went through multiple stages and would have been executed for various reasons, including the much-debated energy savings and greater efficiency of the blockchain. The security aspect of the protocol has also been questioned.
Phase 0 of the project, known as the Beacon Chain, would be activated on December 1 once the 524,288 ether required in the deposit agreement were completed. According to Etherscan, the current figure at the time of this article’s publication is 95,872 ethers.
Users wishing to have a validator node on the network must transfer 32 ETH to participate. It is estimated that 16,384 validation nodes will be required.
On the incorporation of the nodes, CriptoNoticias reported 10 days ago that Ethereum co-founder Vitalik Buterin contributed $ 1.5 million or 3,200 ethers for the activation of the network. That is, the Canadian programmer, but of Russian origin, will have 100 validating nodes once the protocol is activated.
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