Ethereum Foundation Secures $1.5M in Donations to Support Network Upgrade Efforts

The donations will support execution-layer teams working on technical upgrades to achieve "Ethereum 2.0."

Aug 24, 2021 at 11:38 a.m. UTC
Updated Sep 14, 2021 at 1:44 p.m. UTC

Six crypto entities including exchange Kraken and decentralized finance (DeFi) protocols Uniswap and The Graph have donated $250,000 each to efforts around upgrading the Ethereum blockchain.

  • The $1.5 million donation will support execution-layer teams working on technical upgrades to achieve "Ethereum 2.0," according to an announcement Tuesday.
  • The developments, most recently Ethereum's London hard fork that went live on Aug. 5, will see the network transition to a proof-of-stake model.
  • As well as Kraken, Uniswap and The Graph, donations are being made by DeFi protocols Compound, Lido and Synthetix.
  • The five Ethereum clients that will receive this funding are Besu, Ergon, Geth, Nethermind and Nimbus.
  • Ethereum's goal is to lessen the risk associated with the network's over-reliance on a single entity.

UPDATE (AUG. 24, 14:42 UTC): Rewrites headline, body to add donors in addition to Kraken, total amount, recipients.

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