Kraken Donates $250K to Ethereum Upgrade Efforts
8 min ago•1 min read•Ethereum
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.