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Ethereum Foundation Secures $1.5M in Donations to Support Network Upgrade Efforts
The donations will support execution-layer teams working on technical upgrades to achieve "Ethereum 2.0."
Updated Sep 14, 2021, 1:44 p.m. Published Aug 24, 2021, 11:38 a.m.
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Six crypto entities including exchange Kraken and decentralized finance (DeFi) protocols Uniswap and The Graph have donated $250,000 each to efforts around upgrading the Ethereum blockchain.
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- The $1.5 million donation will support execution-layer teams working on technical upgrades to achieve "Ethereum 2.0," according to an announcement Tuesday.
- The developments, most recently Ethereum's London hard fork that went live on Aug. 5, will see the network transition to a proof-of-stake model.
- As well as Kraken, Uniswap and The Graph, donations are being made by DeFi protocols Compound, Lido and Synthetix.
- The five Ethereum clients that will receive this funding are Besu, Ergon, Geth, Nethermind and Nimbus.
- Ethereum's goal is to lessen the risk associated with the network's over-reliance on a single entity.
Read more: Ethereum Hard Fork Sends Price Jumping as Fees Start to Burn
UPDATE (AUG. 24, 14:42 UTC): Rewrites headline, body to add donors in addition to Kraken, total amount, recipients.
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