Ethereum Foundation is the governing body behind the Ethereum project. On 7 March 2018, it has announced millions in grants to support and encourage developers across various projects.
Two months ago, the decision was only to support the projects which focus on improving the Ethereum scalability. Later, the focus broadened to encourage projects across security and usefulness along with the scalability.
Among the winners, L4 Research stands on top with 1.5 million USD fund. And the grant is for its continued research on state channels – a mechanism to scale up the transaction processing. The second biggest winner is Runtime Verification, which garners 500k USD, focuses Casper contract formal verification; Casper is a future planned upgrade that moves Ethereum from Proof-of-work to Proof-of-Stake.
Another noteworthy fact is that none of the grant winners have token sales or ICO. They just focus on building better products and experiences.
Apart from teams behind projects, individuals, who have been contributing towards Ethereum project, have also won the grant.
Other than funding, the Eth.ereum foundation also helps the teams in technical advisory, connecting them to more users, and provides a platform to share their work.
Additional funds and collaboration might be provided when a milestone is achieved. The foundation has also revealed areas of interest to be eligible for future grants. On the broad picture, these areas are as same as the present grant. But the much focus has given to the specific set of sub-areas.
Where do the funds come from?
The Ethereum foundation gets donations from various sources. The donation receiving address is 0xfB6916095ca1df60bB79Ce92cE3Ea74c37c5d359. You can check the status and amount of funds available here.
Moreover, there is another address, 0xde0B295669a9FD93d5F28D9Ec85E40f4cb697BAe, the holds funds allocated to the development activities. You can check the same at this link.
At the time of writing the development fund has Ether equivalent to 482 million USD. So, the first grant, which amounts to 2.565 million USD, is just a tip of the iceberg.