Ethereum Foundation will allocate $ 19 million for the implementation of Ethereum 2.0

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UNITED STATES (VOP TODAY NEWS) — The non-profit organization Ethereum Foundation, which promotes and supports the development of the Ethereum ecosystem, this year will allocate $ 30 million for the development of key projects. Of these, $ 19 million will go to the “broadcast of the future”, $ 8 million to support the “broadcast of the present”, and another $ 3 million to attract developers.

Thus, the priority direction of development is Ethereum 2.0, second-level solutions for network scaling like Plasma , as well as other studies related to the transition of the ecosystem to the Proof-Of-Stake consensus algorithm.

“For almost a year we have at our disposal all the research breakthroughs necessary for the launch of Ethereum 2.0,” said Vitalik Buterin.

At the same time, the organization attaches great importance to maintaining the current version of the network, which provides security of assets worth billions of dollars and hundreds of running decentralized applications.

“We are convinced that we must ensure that Ethereum dominates as the main platform for smart contracts,” the Ethereum Foundation emphasized.

In addition, $ 3 million will be spent on training developers and their further involvement in the work on the protocol, as well as on holding a Devcon conference and supporting regional communities.

The Ethereum Foundation retains about 0.6% of the total Ethereum emissions, but over time it expects organizations like DAO Moloch to partially finance the development of the ecosystem.

Earlier Vitaly Buterin announced the appearance of Ethereum 2.0 or Serenity. This upgrade involves a transition to the Proof-Of-Stake (Casper) algorithm, the implementation of sharding (multiple parallel circuits connected to the main one, for executing various smart contracts and ensuring decentralized applications), updating the virtual machine (EWASM), changing the cross-contract logic and economics of the protocol.


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