Ethereum Foundation Announces First Grants for Promising Projects

Making good on Vitalik Buterin’s early 2018 promise to provide grants for scaling and development initiatives, the Ethereum Foundation has just announced the first beneficiaries of the effort. Grant winners include sharding research from Prysmatic Labs and Casper contract verification work at Runtime Verification.

Doubling Down on the Future of Ethereum

Sharding, Plasma, Casper — these scaling solutions wont’ solve themselves. And there’s a whole slew of technical and security-focused research that the Ethereum ecosystem could sorely use in general.

The Ethereum Foundation is fully aware of this dynamic, which is why they’re now handing out millions of dollars in grants in an all-hands-on-deck pivot toward boosting projects designed to optimize Ethereum for the long haul.

Per the Foundation’s announcement:

“This year, we will double down on working with the community to make Ethereum scalable, useful and secure. As such, although this grant program was announced two months ago as a strictly scalability-focused program, we decided to broaden the support to projects that are doing great work across scalability, usefulness and security. These projects have no ICOs, no token sales, and focus simply on building useful products and experiences.”

The Inaugural Beneficiaries

For the Foundation’s first run of grants, there were thirteen beneficiaries. The recipient of the largest was L4 Research, who get $1.5 million USD for state channels research. The second largest grant of $500,000 went to Runtime Verification for their Casper security efforts.

The smallest of the rewards came in at $10,000.

The beneficiaries.

In their announcement, the Foundation also provided a “wishlist” for what they’d like to see in future grants. Regarding scalability, alternative Plasma and sharding implementations will be given a high priority. And the Foundation would also like to see what they call a “tokenless ‘Lightning Network’ for Ethereum.”

Watch out, then, Raiden Network.

What’s your take? Do you think these kinds of grants should be par for the course in the cryptoverse? Sound off in the comments below. 

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