The Ethereum Foundation announced on Monday, January 7, that a grant of $ 5 million was given to the Parity Technologies development team. The funds will be used for further work on the scaling, usability and security of the Ethereum platform.
The #Ethereum Foundation announces major grant to @ParityTech . https://t.co/mkLGaidz3d #BUIDL
– Ethereum (@ethereum) January 7, 2019
“For several years, Parity Technologies has been an indispensable participant in the Ethereum ecosystem and has played a leading role in developments such as the Parity Ethereum client and much more, ” says the Ethereum Foundation blog.
It is also noted that at the recent Devcon4 conference in Prague, the Parity team presented plans to work on the implementation of Serenity, which in the coming years will become an important direction in the development of the entire platform.
“Parity makes an important technical contribution to the Ethereum project, and it is noteworthy that from the very beginning, all this was done in terms of self-financing and open source, ” added representatives of the Ethereum Foundation.
The grant will provide Parity with funding for further work on Casper, sharding, light clients, developer tools, quality assurance, audits and infrastructure improvements.
Funding will be divided into several tranches, the first of which is designed to support the already completed development. Subsequent tranches will be allocated upon reaching certain achievements and will help Parity to complete work on ensuring compatibility of the eWasm mechanism, launch a lightweight client into the main Ethereum network and successfully complete the zero and first sharding phases.
Recall that last December Parity Technologies launched a beta version of the Substrate tool, which allows you to create customized blockchains for decentralized applications. In the same month, Ethereum founder Vitaly Buterin supported financial start-ups from Prysmatic Labs, ChainSafe Systems and Sigma Prime, listing 1,000 ETHs to them.
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