The Ethereum Foundation has unveiled over $2 million of funding for the development of Serenity or ETH2.0. The official announcement read,
“We are today unveiling over $2M USD in Foundation-led and co-funded grant funding aimed at furthering Serenity (Eth2.0) development as we move nearer to the launch of the Beacon Chain.”
The update is primarily directed toward infusing Proof-of-Stake, shard chains and other scaling solutions to the existing Ethereum network.
Ethereum Foundation has also mentioned that it has “granted substantial awards to leading client development teams currently tasked with delivering long-standing multi-client testnets as development approaches the launch of Phase 0.” The above table summarizes the detailed breakdown of the grant and recipients based on the official announcement by the company.