The Ethereum Foundation detailed Tuesday how an estimated $30 million can be spent by the group on key tasks inside the ethereum ecosystem.
The group stated that $19 million has been earmarked over the subsequent 12 months to be put in the direction of “building the ethereum of tomorrow.”
Another $eight million is detailed to be spent over the subsequent 12 months on supporting the present ethereum mainnet by way of initiatives akin to ethereum 1x.
“Ethereum is used in production today to secure billions of dollars of assets and as a base layer for many hundreds of live applications. We believe that it is vital to continue supporting these efforts to ensure that ‘Ethereum 1.0’ continues to be the world’s dominant smart-contract platform,” the Foundation stated in a blog post released Tuesday.
The ultimate $three million is earmarked for developer progress and consciousness. As said within the publish, the cash shall be put in the direction of: developer schooling and on-boarding, organizing the yearly ethereum convention Devcon, supporting “regional ethereum community organizations,” and the like.
Over the final yr, the Ethereum Foundation spent a reported complete of $27 million awarding financial grants to 90 totally different tasks. The highest variety of grants, 23 in complete, went in the direction of ethereum tasks focussed on scalability.
All collectively, the Ethereum Foundation holds roughly zero.6 % of all ether, equal to roughly $160 million, in addition to some reserves of money. As said in immediately’s weblog publish, assets “are intended to decrease over time” and different third-party actors such because the MolochDAO are inspired to take a bigger position in supporting improvement within the ethereum ecosystem.
“Efforts like these give us better leverage from our existing resources, and help build a sustainable path for funding vital projects far into the future,” the weblog publish detailed.
Speaking to CoinDesk, government director of the Ethereum Foundation Aya Miyaguchi added:
“I understand that many look to the [Ethereum] Foundation as an important voice even if our intention is to empower other important contributors to ethereum…We’ll continue to release many different types of updates, including the latest from more supported teams very soon.”
Ethereum Foundation government director Aya Miyaguchi. Image taken by Christine Kim.