Ethereum Ecosystem Entities Donate $1.5M to Network Upgrade Efforts

Ethereum Ecosystem Entities Donate $1.5M to Network Upgrade Efforts

Six different crypto entities including exchange Kraken and decentralized finance (DeFi) protocols Uniswap and The Graph have each donated $250,000 to efforts around the upgrading of the Ethereum blockchain.

  • 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, $250,000 donations are being made by DeFi protocols Compound, Lido and Synthetix.
  • The five Ethereum clients who will receive this funding will be Besu, Ergon, Geth, Nethermind and Nimbus.
  • Ethereum's goal is to lessen any risks associated with the network's overreliance on any single entity.
  • Source