Announcing its fourth wave of grants, the Ethereum Foundation has awarded 20 different people and entities working on the blockchain of Ethereum, it revealed through a press release on October 15.
As per the release, the total awarded amount sums of to more than $3 million. The biggest grant among them is given to Prysmatic Labsand and Status. Both of this companies are working towards developing the Ethereum 2.0 ecosystem announced first by Vitalik Buterin, its co-founder in November 2017.
The grant is divided according to the contribution made to the platform towards its development, such as usability, scalability and security. SpankChain, an adult entertainment platform received $420,000 grant for work on kit (SDK) an open source software developer for a channel hub of noncustodial payment methods.
Prototypal and Finality Labs for front-end state channel research and the development of forward-time locked contracts are two others among the large grant receivers.
The Ethereum team has also conveyed its gratitude to the members of the community with a promise to increase their involvement in the network’s development, through the announcement, noting, “Thank you to all the fantastic community members that have applied with creative ideas on how to bolster our ecosystem. 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.”
Last February, six large scale blockchain projects came together to create Ethereum Capital Fund, Golem, OmiseGo, Cosmos, Raiden, Maker and Jpanese venture capital firm Global Brain announced that they would grant a cumulative sum of $100 million to multiple projects that developed the Ethereum blockchain ecosysytem.
Buterin himself is an advisor with the project while supporting open source projects building innovative technologies on his own.