Ethereum entered the outbreak! Ethereum Foundation allocates 30 million US dollars to escort Ethereum 1.0, 1x, 2.0, etc.

The Ethereum Foundation detailed on Tuesday how the organization would spend approximately $30 million on key projects in the Ethereum ecosystem.

Screenshot 2019-05-23 10.14.47 am

Image source: pixabay

The organization said it has allocated $19 million for the next 12 months to "build tomorrow's Ethereum."

That is to say, this includes the ambitious expansion plan Ethereum 2.0, the “two-tier” expansion project, such as Plasma, and other research and development projects.

An additional $8 million will be used to support the current Ethereum main network program, such as the Ethereum 1x, over the next 12 months.

“Ethereum is already in the midst of a real-world operation, providing protection for billions of dollars in assets and providing the underlying foundation for hundreds of real-time applications. We believe it is vital to continue to support these efforts to ensure 'Ethereum 1.0’ Continue to be the world's leading smart contract platform."

The last $3 million will be dedicated to the growth and awareness of developers. As stated in the article, the money will be used for: developer education and induction training, organizing the annual Ethereum conference Devcon, supporting "regional Ethereum community organizations" and so on.

Last year, the Ethereum Foundation spent a total of $27 million on the development of the Ethereum ecosystem to fund 90 different projects. A total of 23 grants were allocated to the Ethereum project focused on scalability.

The Ethereum Foundation holds a total of approximately 0.6% of ETH's share, equivalent to approximately $160 million, as well as some cash reserves. As described in today's blog post, these resources “will decrease over time” and encourage third-party participants like MolochDAO, a project that funds Ethereum development, to support the development of the Ethereum ecosystem. The aspect plays a greater role.

“This effort allows us to make better use of existing resources and help us build a sustainable path to fund important projects in the future,” wrote the blog post in detail.

In an interview with CoinDesk, Aya Miyaguchi, executive director of the Ethereum Foundation, added:

“I understand that many people see the (Ethereum) Foundation as an important voice, even if our intention is to empower other important contributors… we will continue to release many different types of updates soon, including from more Support the latest updates from the team."