Ethereum Developers Published a New Plan for the Development of Blockchain

On May 21, Ethereum (ETH) cryptocurrency developers have published a new plan for the development of the blockchain for the coming year. It identifies priority tasks aimed at implementing the network upgrade.

Ethereum Foundation will spend $30 million on the development of a virtual currency ecosystem. The budget will be distributed in the following way:

  • $19 million will be spent on the development of the Plasma protocol and the Ethereum 2.0 upgrade;
  • $8 million will be spent on improving the current version of the blockchain;
  • $3 million will remain in the reserve created for training and financial support for developers.

The company also compiled a report of work on key projects:

  • Ethereum 2.0. Testing upgrades in Nimbus, Prysm, and Sigma Prime clients have been launched. Employees of the companies are now stabilizing and optimizing their clients, getting ready for multi-client testnets.
  • Ethereum 1.x. This initiative focuses on improving Ethereum’s short term scalability and sustainability. Several development teams run Geth and Solidity projects and regularly release updates for ETH clients.
  • ZK-rollup. Ethereum Foundation supported Barry Whitehat and Matter Labs company which work on realisation of a ZK-rollup concept in Ethereum network, which is designed to increase productivity of the blockchain.
  • ETHGlobal. This platform organizes hackathons around the world to stimulate the development of the Ethereum community. At a recent event, ETHCapeTown, 40% of attendees were new to Ethereum.
  • Scientific researches. Ethereum Foundation hosted three research workshops at Stanford University and Massachusetts Institute of Technology.

Ethereum Foundation is actively promoting virtual currency. Employees of the organization together with the Microsoft Azure team are working to integrate the Ethereum network into the Visual Studio Code source code editor and the Azure blockchain. Thanks to the company’s cooperation with HTC and Opera, decentralized applications created on the Ethereum network have been added to mobile devices and the Internet browser.

We want to remind you:

Chainalysis Report: Cryptocurrency Whales Own One-Third of All Ethereum Tokens

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