Projects building on the Ethereum network have declared plans to pool assets and team up.
Universe, OmiseGO, Golem, Maker, Global Brain, and Raiden will together launch the Ethereum Community Fund with the objective of coordinating and strengthening growth on the Ethereum network.
The fund’s first move will be an Infrastructure Grant program, giving lasting financial help for improvement handling the scalability issue. Scalability is a shared central issue for all platforms building on the Ethereum network, which would avert mainstream mass utilization of their projects. By pooling their assets and working cohesively, rather than in separation, the projects would like to deliver a universal solution that will profit all projects building on the Ethereum network.
Piotr Janiuk, Golem’s Chief Technical adviser additionally noted that this approach will likewise enable the projects to center around their individual projects, expressing that:
“the more scalable Ethereum is, the less code to facilitate said scaling has to be implemented in the Golem protocol”.
The ECF is backed by experienced figures from over the Ethereum network. Members incorporate the Co-founder of Cosmos, Jae Kwon; the Founder of Golem, Julian Zawistowski; the Founder of OmiseGO, Jun Hasegawa; the Founder of Maker, Rune Christensen; and the CEO and Founder of one of Global Brain Blockchain Lab, Yasuhiko Yurimoto. Advisors to the fund incorporate Founder of Ethereum Vitalik Buterin and Executive Director of the Ethereum Foundation, Ayako Miyaguchi. The backers openly communicated their confidence in the Fund as a backbone for advancement on the Ethereum network. Buterin said that “delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help to make that possible”. Jun Hasegawa had a similar sentiment, stressing the revolutionary capability of the technology:
“One project in isolation can create a product to disrupt an industry, but by working together we can create a framework that will change the world”.
The ECF declaration comes on top of a months ago news that the Ethereum Foundation would set aside subsidies of up to $1m for open-source team taking a shot at a similar scalability issue. At its launching, nonetheless, the Fund has not discharged data with respect to how it particularly plans to focus its assets.