Ethereum Foundation announces grants for ETH 2.0 development

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.

Source: Ethereum Foundation

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.