Fund Ethereum seriously addressed the problem of scaling, allocates millions of dollars for research

Fund Ethereum seriously addressed the problem of scaling, allocates millions of dollars for research

The Ethereum Foundation is a non – profit organization that oversees the development of ethereum, officially unveiled two subsidy programmes, which aim at financing research problems of scaling (number of transactions available per unit of time).

In his post published Tuesday on the official blog, Creator of ethereum, Vitalik Buterin told about how the network will be able to reach the target of 1 million transactions per day. In his opinion, scalability is “the only really important technical problem” over which the developers need to work before decentralized applications will start to use the massive demand.

The subsidies, meant to encourage developers to implement two possible solutions to the problem of scaling: sharding (sharding) and layer-two.

Sharding is a process that requires only a few nodes in the blockchain to confirm the transaction. Currently, the ethereum developers finish working on the specs for the sharding Protocol and prepare it for launch in a test ethereum.

On the other hand, the protocols of the second level (layer-two) using a different approach, for transactions the main ethereum blockchain will not be used.

According to the blog post, subsidies for each program range from 50 000 to 1 million US dollars and is intended to cover development costs.

In addition to the current research, the Foundation is actively seeking third parties to examine the problem of scaling.

In his post Buterin wrote:

An independent team of developers, companies and universities and academic groups are welcome, we recognize that different types of applicants may require different formats and processes, and we are willing to be flexible to meet the needs of individual teams.

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