The Details Of The $30 Million Ethereum Development

Meeting O. Progress || MAY 22, 2019

A detail showing how $30 Million will be used for Ethereum development over the next year has been announced by Ethereum Foundation in official blog post on may 21st, 2019.

This $30 million budget  was first announced by the foundation at the ConsenSys’ Ethereal Summit on May 10. Executive director Aya Miyaguchi then said that the foundation intends to bring academic involvement to Ethereum, which would purportedly attract top-tier researchers and developers and grants to academic teams and organizations.

The allotment of the fund is breakdown into three categories which are; future projects at $19 million, current projects at $8 million, and developer supports at $3 million. Much of the funding will go to Ethereum 2.0 projects including client teams, research, documentation and communication, and layer two projects like Plasma.

Plasma was first proposed by Vitalik Buterin and Joseph Poon in 2017, scaling solution for the network employing autonomous smart contracts. Plasma will purportedly enable “ the blockchain to be able to represent a significant amount of decentralized financial applications worldwide,“ according to the white paper.

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