{"id":112564,"date":"2019-08-27T01:12:39","date_gmt":"2019-08-27T08:12:39","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=112564"},"modified":"2026-04-27T20:01:21","modified_gmt":"2026-04-27T19:01:21","slug":"ethereum-foundation-distributes-2-million-in-grants-to-accelerate-imminent-eth-2-0-launch","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ethereum-foundation-distributes-2-million-in-grants-to-accelerate-imminent-eth-2-0-launch\/","title":{"rendered":"Ethereum Foundation distributes $2 million in grants to accelerate \u201cimminent\u201d ETH 2.0 launch"},"content":{"rendered":"<p>The <a href=\"https:\/\/cryptoslate.com\/companies\/ethereum-foundation\/\">Ethereum Foundation<\/a> announced grants worth more than $2 million aimed at bolstering the development of Serenity, <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum\u2019s<\/a> long-awaited\u2014but apparently \u201cimminent\u201d\u2014scaling upgrade, ETH2.0.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Approaching Serenity: Announcing Ethereum Foundation and Co-Funded Grants!<a href=\"https:\/\/t.co\/ImJ3MrHre3\">https:\/\/t.co\/ImJ3MrHre3<\/a><\/p>\n<p>&mdash; Ethereum (@ethereum) <a href=\"https:\/\/twitter.com\/ethereum\/status\/1165988439969411073?ref_src=twsrc%5Etfw\">August 26, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Switzerland-based nonprofit <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-announces-2m-in-grant-funding-for-eth2-0-development\/\">said<\/a> Monday it co-led the grants with blockchain thinktank Protocol Labs and Ethereum-focused \u201cventure production studio\u201d <a href=\"https:\/\/cryptoslate.com\/companies\/consensys\/\">ConsenSys<\/a>, distributing over $2 million in funding. The funds are to be used for projects that aid the \u201cimminent\u201d launch of Serenity\u2019s entirely separate proof-of-stake blockchain, the \u201cBeacon Chain.\u201d<\/p>\n<p>Over the last few months, seven recipients scooped up $2.46 million in grants. Key ecosystem startups including Sigma Prime, <a href=\"https:\/\/cryptoslate.com\/products\/status\/\">Status<\/a>, and <a href=\"https:\/\/cryptoslate.com\/casper-proof-of-stake-ethereum-live-on-the-prysm-testnet\/\">Prysmatic Labs<\/a>, received the grants, with the Ethereum Foundation emphasizing that these companies are \u201ccurrently tasked with delivering long-standing multi-client testnets\u201d for Serenity.<\/p>\n<p>The full list of recipients are as follows:<\/p>\n<ul>\n<li style=\"font-weight: 400;\">Harmony: $189,000 for Beacon Chain development<\/li>\n<li style=\"font-weight: 400;\">Prysmatic Labs: $725,000 for Prysm client development<\/li>\n<li style=\"font-weight: 400;\">Sigma Prime: $485,000 for Lighthouse client development<\/li>\n<li style=\"font-weight: 400;\">Status: $500,000 for Nimbus client, $150,000 for nim-libp2p<\/li>\n<li style=\"font-weight: 400;\">Whiteblock: $184,000 for ETH2.0 network testing and testnet support<\/li>\n<li style=\"font-weight: 400;\">Dmitry Khovratovich: $10,000 for report on Legendre Polynomials and Functions<\/li>\n<li style=\"font-weight: 400;\">Chainsafe: $217,500 for ETH2.0 \u2018Lodestar\u2019 light client development<\/li>\n<\/ul>\n<h2>Vitalik Buterin: Ethereum \u201calmost full\u201d<\/h2>\n<p>The deployment of ETH2.0 has been anticipated as a must for Ethereum to retain its position as the dominant smart contract platform. For investors, ETH2.0 is the salvation needed for Ether to hang on to its yearslong status as the second-largest cryptocurrency by market capitalization. Even with its <a href=\"https:\/\/cryptoslate.com\/institutional-demand-for-bitcoin-and-ethereum-causes-grayscale-aum-to-nearly-triple-reduces-exposure-to-xrp\/\">rapidly institutionalizing investor base<\/a>, ETH has posted dismal performance against its Bitcoin pair, losing 54.6 percent against BTC over the last year.<\/p>\n<figure id=\"attachment_57638\" aria-describedby=\"caption-attachment-57638\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/cryptoslate.com\/vitalik-buterin-sharding-and-plasma-to-help-ethereum-reach-1-million-transactions-per-second\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-57638\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/06\/ethereum-tps-social-300x158.jpg\" alt=\"Vitalik Buterin: Sharding and Plasma to Help Ethereum Reach 1 Million Transactions Per Second\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/06\/ethereum-tps-social-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/06\/ethereum-tps-social-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/06\/ethereum-tps-social-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/06\/ethereum-tps-social.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-57638\" class=\"wp-caption-text\">Related: <a href=\"https:\/\/cryptoslate.com\/vitalik-buterin-sharding-and-plasma-to-help-ethereum-reach-1-million-transactions-per-second\/\">Vitalik Buterin: Sharding and Plasma to Help Ethereum Reach 1 Million Transactions Per Second<\/a><\/figcaption><\/figure>\n<p>That said, Ethereum does boast <a href=\"https:\/\/cryptoslate.com\/ethereum-celebrates-fifth-anniversary-with-impressive-network-stats\/\">impressive usage statistics<\/a> and still leads as the dominant smart contract platform. However, the protocol is still hindered by scalability issues, characterized by its <a href=\"https:\/\/cryptoslate.com\/vitalik-buterin-sharding-and-plasma-to-help-ethereum-reach-1-million-transactions-per-second\/\">15 transactions per second<\/a> throughput. Compared to centralized databases which can handle thousands of transactions per second this is a glacial speed.<\/p>\n<p>In the past, this limitation caused transaction fees and confirmation times to skyrocket during <a href=\"https:\/\/cryptoslate.com\/ethereum-network-congestion-doubles-gas-fees-as-game-dapps-capture-7-5m-in-24-hours\/\">periods of heavy usage<\/a>, impeding the platform from realizing its supposed potential as a \u201cworld computer\u201d with millions of users.<\/p>\n<p>Last week, Ethereum co-founder <a href=\"https:\/\/cryptoslate.com\/people\/vitalik-buterin\/\">Vitalik Buterin<\/a> suggested the network was stretched to its utmost limit, telling <a href=\"https:\/\/www.thestar.com\/business\/2019\/08\/19\/ethereums-vitalik-buterin-on-reducing-cryptocurrencys-risks.html\">The Star<\/a> Ethereum was \u201calmost full,\u201d effectively prohibiting large entities from joining.<\/p>\n<p>Vitalik said:<\/p>\n<blockquote><p>\u201cScalability is a big bottleneck because the Ethereum blockchain is almost full. If you\u2019re a bigger organization, the calculus is that if we join, it will not only be more full but we will be competing with everyone for transaction space. It\u2019s already expensive and it will be even five times more expensive because of us. There is pressure keeping people from joining, but improvements in scalability can do a lot in improving that.&#8221;<\/p><\/blockquote>\n<p>ETH2.0 could help the network support the millions of transactions per second it needs via second-layer solutions, including Sharding and Plasma, <a href=\"https:\/\/cryptoslate.com\/answering-vitalik-buterins-7-hard-questions-for-the-blockchain-world-part-4-dapp-latency\/\">said<\/a> Buterin. Such improvements could make Ethereum a solution for resource-intensive decentralized applications, such as Microsoft\u2019s <a href=\"https:\/\/cryptoslate.com\/microsoft-ethereum-blockchain-democratize-machine-learning-ai\/\">proposal for Ethereum-based machine-learning<\/a>, further cementing its usage among enterprise users.<\/p>\n<p>Even with Ethereum\u2019s shortcomings, the protocol still accumulated the most robust enterprise user base to date amongst smart contract platforms. Some corporate giants utilizing Ethereum include <a href=\"https:\/\/cryptoslate.com\/metlife-ethereum-transform-life-insurance\/\">MetLife<\/a>, <a href=\"https:\/\/cryptoslate.com\/ubisoft-reportedly-developing-ethereum-in-game-items-and-blockchain-games\/\">Ubisoft<\/a>, <a href=\"https:\/\/cryptoslate.com\/jp-morgan-zether-private-ethereum\/\">JPMorgan<\/a>, and <a href=\"https:\/\/cryptoslate.com\/hyperledger-welcomes-ethereum-foundation-microsoft-and-others-to-new-identity-project\/\">IBM<\/a>.<\/p>\n<p>Now, it\u2019s a question as to whether Ethereum can maintain its lead to challengers such as <a href=\"https:\/\/cryptoslate.com\/coins\/eos\/\">EOS<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/tron\/\">TRON<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ethereum Foundation announced grants worth more than $2 million aimed at bolstering the development of Serenity, Ethereum\u2019s long-awaited\u2014but apparently \u201cimminent\u201d\u2014scaling upgrade, ETH2.0. Approaching Serenity: Announcing Ethereum Foundation and Co-Funded Grants!https:\/\/t.co\/ImJ3MrHre3 &mdash; Ethereum (@ethereum) August 26, 2019 The Switzerland-based nonprofit said Monday it co-led the grants with blockchain thinktank Protocol Labs and Ethereum-focused \u201cventure production [&hellip;]<\/p>\n","protected":false},"author":175,"featured_media":112569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61713,15323],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Foundation distributes $2 million in grants to accelerate \u201cimminent\u201d ETH 2.0 launch<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ethereum-foundation-distributes-2-million-in-grants-to-accelerate-imminent-eth-2-0-launch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Foundation distributes $2 million in grants to accelerate \u201cimminent\u201d ETH 2.0 launch\" \/>\n<meta property=\"og:description\" content=\"The Ethereum Foundation announced grants worth more than $2 million aimed at bolstering the development of Serenity, Ethereum\u2019s long-awaited\u2014but apparently \u201cimminent\u201d\u2014scaling upgrade, ETH2.0. Approaching Serenity: Announcing Ethereum Foundation and Co-Funded Grants!https:\/\/t.co\/ImJ3MrHre3 &mdash; Ethereum (@ethereum) August 26, 2019 The Switzerland-based nonprofit said Monday it co-led the grants with blockchain thinktank Protocol Labs and Ethereum-focused \u201cventure production [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ethereum-foundation-distributes-2-million-in-grants-to-accelerate-imminent-eth-2-0-launch\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-27T08:12:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-27T19:01:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/08\/ethereum-fast-social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jonnie Emsley\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ethereum Foundation distributes $2 million in grants to accelerate \u201cimminent\u201d ETH 2.0 launch\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jonnie Emsley\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/ethereum-foundation-distributes-2-million-in-grants-to-accelerate-imminent-eth-2-0-launch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/ethereum-foundation-distributes-2-million-in-grants-to-accelerate-imminent-eth-2-0-launch\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/jonnie-emsley\/#person\",\"name\":\"Jonnie Emsley\",\"url\":\"https:\/\/cryptoslate.com\/author\/jonnie-emsley\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/jonnie-emsley\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/jonnie-emsley\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/author-jonnie-emsley.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/author-jonnie-emsley.jpg\",\"caption\":\"Jonnie Emsley\"},\"jobTitle\":\"Contributor\",\"description\":\"Jonnie is a writer and blockchain enthusiast based in Ho Chi Minh City, Vietnam. 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