by Ray Hayes
One of the largest companies in blockchain, Ethereum awarded almost $3 million in grants to more than 20 blockchain startups and developers through its Ethereum Foundation. According to a Press Release, the awardees will use the funds to work on, “… client diversity, usability, scalability, security and simply for building tools.”
According to many reports, the original goal of the Ethereum grant program was to only support the development of the Ethereum blockchain in an effort to improve decentralized applications (dapps) and smart contract technology. However, once officials came together to reconsider their plans, things evolved and many blockchain startups are benefiting tremendously from the change. For insistence, Status, a peer to peer messenger/browser that uses the Ethereum network, was a $500,000 recipient of the Ethereum grant program and company officials spoke about the impact the grant has had on the company.
As reported by Coindesk.com, “Status COO Nabil Naghdy told CoinDesk that the company is proud that the Ethereum Foundation has chosen to co-fund this research initiative, enabling us to align our values and vision to the benefit [of] all participants in the ecosystem…The grant brings us closer to other client teams and ensures collaboration n with brilliant minds working on similar problems. The challenges facing Ethereum are not project or team specific, they face us all.”
Prysmatic Labs and Status received more than $500,000 each to build Ethereum 2.0 clients while Spankchain, Kyokan and Connext received $420,000 in effort to develop an OSS developer’s kit (SDK) for a non-custodial payment channel hub.