Ethereum Foundation Grants Team Issues $2.86 Million to Boost Blockchain Startups

The Ethereum Foundation has awarded close to $3 million in grants to several blockchain developers and startups as part of its grant program.

The foundation’s grants team said that they released a fourth wave of grants, amounting to around $2.86 million, which was shared among 20 different groups and individuals for work on security, scalability, usability, client diversity, and building tools.

Grant Program To Boost Ethereum Blockchain

Ethereum had reported earlier on that the grant program was intended to offer the much-needed development support on the Ethereum blockchain. Originally it was expected to boost development of decentralized applications as well as smart contract technology on the network.

Receivers of the largest grants included Status and Prysmatic Labs, both of whom got a whopping $500,000 to build Ethereum 2.0 clients. Following closely were Connext, Kyokan, and Spankchain, who received $420,000 to develop an open-source software developer’s kit to be used by a non-custodial payment channel hub.

The grants team noted that:

“We would not exist without the time and energy that you put into Ethereum. While the program continues to grow, we will increasingly continue to involve more community members in the decision making process.”

In another statement to CoinDesk, the COO of Status, Nabil Naghdy, said that their 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.’ Speaking about the grant, he further noted that:

“The grant brings us closer to other client teams and ensures collaboration with brilliant minds working on similar problems. The challenges facing Ethereum are not project or team specific, they face us all.”

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