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$3 million in total granted to largest Ethereum ecosystem contributors

The Ethereum Foundation Grants Team has recently published a new blog post in which they announced an update regarding the fourth wave of grants. The blog post claims that 20 individuals and entities working on Ethereum blockchain were awarded grants. The announcement was made on Monday, October 15th.

The release claims that the total amount awarded to said individuals and entities includes $3 million. The biggest individual rewards were given to Prysmatic Labs and Status, with the amount of $500,000. Both of these two companies aim to create Ethereum 2.0 ecosystem and are a part of a rivalry regarding who will achieve this goal first.

It should be noted that grant recipients received their rewards by the manner in which they managed to contribute to network’s development. This includes contributions to aspects such as usability, scalability, as well as security. With that in mind, a reward of $420,000 was granted to SpankChain, an adult entertainment platform. The platform contributed by working on the open-source SDK (software developer kit). The SDK was developed for a non-custodial payment channel hub.

Other large grants were given to Finality Labs, and Prototypal. Prototypal worked on front-end state channel research, while Finality Labs receive a grant for their work on forward-time locked contracts.

Finally, the team concluded the announcement by expressing gratitude to the community, with a promise of increasing their own involvement in the development of the network.

Vitalik Buterin and six projects reward ecosystem development

Another thing of note is the fact that six large blockchain projects joined forces back in February 2018 to create Ethereum Capital Fund. These included Cosmos, Raiden, OmiseGo, Maker, Golem, and Global Brain. These projects announced a $100 million-large grant that will be given to those that contributed the most to developing Ethereum’s ecosystem.

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Even Vitalik Buterin himself responded to this by announcing that he will personally join the project, albeit as an advisor. Furthermore, Buterin also donated money to different open-source projects. He did this to show support for the creation of innovative technologies, like new scaling solutions.

Prior to this, in September 2017, Buterin also announced that he will donate his advisor shares from Kyber Network and OmiseGo to charity. Alternatively, some of the money was said to be used for funding the development of Ethereum’s second-layer infrastructure.

For now, it seems that Ethereum has kept its word, and it rewarded its hard-working developers. The new wave of grants is also expected to inspire additional development ideas that will improve the ecosystem.