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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."
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.
STORY CONTINUES BELOW
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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.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
