The Ethereum foundation detailed yesterday the projects in which it plans to invest $30M for the development of the Ethereum ecosystem over the next year, the organization announced yesterday on its official blog.
The foundation has said it will distribute the $30M as follows:
$19M will go to future projects
This money will be spent on R&D, since the development of this ambitious projects requires an important investment in research. Among other things, the company is currently working on the scaling upgrade Ethereum 2.0, layer 2 scaling projects such as Plasma and smart contract languages.
$8M will be spent to support the current ecosystem
The platform will use this funds to "ensure that 'Ethereum 1.0' continues to be the world’s dominant smart-contract platform."
The remaining $3M will be spent to promote developer growth and awareness
In order to help the community grow, the organization plans to invest $3M over the next year in the education of Ethereum developers, among other things.
Why it is important
- Ethereum is currently the second largest cryptocurrency by market cap. A wide range of altcoins are built on the ERC-20 standard, Ethereum's protocol. Ethereum wants to lead the development of the crypto ecosystem, and this investment will certainly help.
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