Kraken Donates $250K to Ethereum Upgrade Efforts

Kraken Donates $250K to Ethereum Upgrade Efforts

Cryptocurrency exchange Kraken has donated $250,000 to efforts around the upgrading of the Ethereum blockchain.

  • The donation will support developer teams working on technical upgrades to achieve "Ethereum 2.0," Kraken announced Tuesday.
  • Funds will be directed toward technologies that support Ethereum's software, such as Besu, Geth and Nimbus.
  • 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.
  • Kraken says it was the first major exchange list ethereum for trading and that its clients have staked more than 800,000 ETH to secure the Beacon Chain, the forthcoming proof-of-stake version of the blockchain.
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