Ethereum 2.0 boosted by $30 million from the Ethereum Foundation

  • Ethereum Foundation refines its focus for the Ethereum network.
  • $3 million has been put aside for new development talent and training.

A recent blog post by the Ethereum foundation says that the organization is considering setting aside $30 million to boost development within the network. The funds will go towards Plasms and Ethereum 2.0 upgrades. The post adds that the Foundation has decided to alter view on the future in order to stay in line with the growth of Ethereum (ETH) blockchain:

“As the ecosystem has matured, the Ethereum Foundation has refined its focus. ‘Doing what is best for Ethereum’ doesn’t mean trying to do everything — it means focusing on where we can add the most value, and leaving space for others to add value in the areas that they will be the most effective.”

In addition to the above the Foundation emphasized its role as the allocator of funds for projects within the Ethereum Foundation:

“Over the next year, the Ethereum Foundation plans to spend $30 million USD on key projects across the ecosystem. This budget is insulated against downward ETH price movement.”

“To help clarify how we define our highest priorities, we describe below three primary categories of resource allocation: (i) Building the Ethereum of tomorrow, (ii) Supporting the Ethereum of today, and (iii) Developer Growth & Awareness.”

The proposal is to have $19 million sunk into Plasma scaling solution and Ethereum 2.0 upgrades for a period of one year. There will be additional developments for the smart contract languages, R&D, research developments, verification and auditing among others. Ethereum developments have been allocated $8 million. $3 million has been put aside for new development talent and training.

 

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