Ethereum provided $3 million in grants

The Ethereum Foundation has provided grants of nearly $3 million to a number of blockchain startups and developers under the current program.

On Monday, the Ethereum Foundation team reported on the fourth wave of grant distribution on their blog. A total of $2.86 million was distributed among 20 individual developers and groups involved in building diverse apps, development tools, enhancing the practical value and safety of the ecosystem.

The Ethereum Foundation grant program was launched in March this year to support the development of the Ethereum blockchain, including smart contracts based on it and decentralized applications.

The largest grants were provided to the Prysmatic Labs and Status projects ($500 000 each). They are developing Ethereum 2.0 clients. Spankchain, Kyokan and Connext received $420 000 distributed among three. They will create an open development toolkit (SDK) for the node of non-custodial payment channels.

“We would not exist without the time and energy that you put into Ethereum. While the program continues to grow, we will increasingly continue to involve more community members in the decision making process,” according to Ethereum Foundation.

Chief Operating Officer at Status Nabil Naghdi told CoinDesk that they are “proud that the Ethereum Foundation has chosen to co-fund this research initiative, enabling us to align our values and vision to the benefit [of] all participants in the ecosystem.”

“The grant brings us closer to other client teams and ensures collaboration with brilliant minds working on similar problems. The challenges facing Ethereum are not project or team specific, they face us all,” he added.

Earlier this month, several grants for the development of its own ecosystem issued by the Tezos Foundation.