Ethereum Foundation Grants Parity Technologies $5 Million

Ethereum Foundation Grants Parity Technologies $5 Million

On 7 January, Ethereum Foundation revealed a $5 million endowment to Parity Technologies to be used for the team’s development of developer tools, light clients, Casper, sharding, quality assurance, audits, and also for the enhancement of infrastructure

The grant will be handed to Parity Technologies in parts. The first will support the development completed by Parity. The next tranches will be delivered upon achieving breakthroughs in eWasm compatibility, the release of a light wallet, and successfully accomplishing the first two phases of sharding.

In the announcement, the foundation relays their dedication to provide funds to those who are building on the Ethereum infrastructure with goals of being scalable, usable, and secure. To be effective in deploying their resources, the foundation offers milestone-based grants proportional to a project’s potential.

Parity and Ethereum

In the technical field of the Ethereum project Parity Technologies, founded by Gavin Wood and Jutta Steiner, is among its foremost contributor. Since the time of their establishment, Parity, who provides an open-sourced platform, is a self-funded endeavor. Leadership in core development together with their Parity Ethereum made them vital in the Ethereum ecosystem.

Parity’s team was in Devcon4 where they introduced plans for implementing Serenity.

Parity and Zcash

Last October 2018, Zcash Foundation revealed their team-up with Parity. The purpose of the collaboration is for building an independent node implementation for Zcash miners and users.

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