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22/05/19 05:24 UTC-4

Ethereum network update: $30 million was spent

Ethereum network update
Ethereum network update

Ethereum Foundation Spring 2019 Update has started. On May 21, the Ethereum Foundation announced on its blog about spending $30 million on the further development of the Ethereum network over the next year.

"The #Ethereum Foundation is excited to share our plans for the next year, and more" – network Twitter.

 

Distribution of network update costs

Spent 30 million dollars will be allocated to three different categories. It is planned to spend $19 million on future projects, $ 8 million on current projects, and $3 million on developer support.

Interesting in the section: Ethereum Classic, as a worthy member of the cryptocurrency market

The bulk of the costs will include various projects for network expansion. These projects were named Ethereum 2.0 and include customer groups, research, documentation and communications, as well as second-level projects such as Plasma.

The Plasma project is set up to enable "the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
to represent a significant amount of decentralized financial applications around the world", the blog says. The first mention of plasma was proposed by Vitalik Buterin and Joseph Punim in 2017.

Ethereum Foundation Spring 2019 Update is running, the cost is estimated at $ 30 million. The post also indicates the main reason for scaling the platform in the next year: "Ethereum is today used in manufacturing to protect assets worth billions of dollars and as a baseline for many hundreds of applications. We believe it is vital to continue to support these efforts so that Ethereum 1.0 remains the world's dominant platform for smart-contracts."

Editor: Yuliya Soroka

See also: "White Hat hackers have earned more than 32 thousand dollars in a week correcting errors in crypto projects"

#update #Ethereum #cryptocurrency #blockchain

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