The move by prominent Ethereum stakeholders to join forces so as to create a fund for the second largest blockchain network (Ethereum) has received lots of hype around the crypto space as the biggest development to further transform the platform since the beginning of the year. The move will see OmiseGo, Raiden, Tendermint, Cosmos, Maker, Golem, and Blockchain Labs collaborate to enable mainstream companies and institutions in need of Blockchain services to gain better access to particular projects on the Ethereum platform that offer Blockchain solutions.
Formation of the Ethereum Community Fund
The above-mentioned stakeholders will form the Ethereum Community Fund, which will be responsible for offering grants to select projects on the Ethereum platform in a move that will hopefully encourage more participation as other stakeholders witness the success of the project.
Most notably, however, is the fact that the project has received the support of Vitalik Buterin (Ethereum’s creator) as he mentioned the developments in an email to CoinDesk. He said,
Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished,
He further added that “Delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help make that possible”.
More Support for Ethereum’s Development
In addition to ECF’s effort to bolster the development of Ethereum and its decentralized application, the not-for-profit Ethereum Foundation responsible for overseeing development of the Ethereum platform, has also recently moved to create two programs that will act as subsidy projects. These are meant to encourage better implementation of scaling solutions by developers of the platform. Furthermore, the Enterprise Ethereum Alliance will also work to adopt Ethereum and introduce it to startups and fortune 500 companies through resource allocation to businesses.
Jun Hasegawa, founder and CEO of OmiseGo (an entity developing an ecosystem for decentralized applications) stated,
One project in isolation can create a product to disrupt an industry,
What do you think about the recent developments on Ethereum’s platform? Will this help Ether gain more mainstream attention? Share your thoughts and opinions with us in the comment ssection.