As you probably know, Ethereum is one of the biggest cryptocurrencies but also a project with many plans for the future. There are many projects built on Ethereum including Cosmos, OmiseGO, Golem, Raiden, Global Brain and Maker.
All of these projects have paired up together and contributed to the launch of the Ethereum Community Fund which has a goal of coordinating and strengthening the development on the Ethereum network.
The first move right now is the infrastructure Grant program. This will provide permanent financial support for tackling the scalability issues. Basically, scalability is the main issue in every blockchain project (and especially ones in the Ethereum network). By pooling all of their resources together and working in synergy, these projects will hopefully produce a universal solution that will benefit every single project built on the Ethereum network.
All of the people behind these blockchain projects have their hopes up about the improvement of the Ethereum network. As Piotr Janiuk, Golem’s CTO said, “the more scalable Ethereum is, the less code will be needed to facilitate scaling in the Golem protocol”.
There are many big names behind this new project. From Jae Kwon (co-founder of Cosmos) to Julian Zawistowski (founder of Golem) Rune Christensen (founder of Maker), Jun Hasegawa (founder of OmiseGO) and many others, all of these backers expressed their faith in the fund, seeing it as a backbone for development on the Ethereum network.
Jun Hasegawa even said that the revolutionary potential of the technology can lead to big things. As he said:
“One project in isolation can create a product to disrupt an industry, but by working together we can create a framework that will change the world”.
There have been some news that the Ethereum Foundation would set subsides of up to $1 million for the open-source teams working on the same scalability issues. However, the new cooperation seems to be a better and smarter move that unites the best experts in the field.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]