Wednesday , 21 March 2018

New ‘Ethereum Community Fund’ sponsoring ETH infrastructure

Notable ethereum stakeholders are joining forces to create a fund for projects building on the world’s second-largest blockchain. It is called Ethereum Community Fund (ECF), and aims to connect and fund the growth of Ethereum (ETH) infrastructure, according to the ECF website.

ECF the effort is the result of a collaboration between Cosmos, Golem, Global Blockchain Labs, Maker, OmiseGo, Raiden and Tendermint, with those involved agreeing to work to connect ethereum projects with companies that could benefit from the blockchain services they offer.

The first step towards supporting the growth of the Ethereum ecosystem will be the Infrastructure Grant program. This program will be established as a permanent financial endowment to support and aid projects in building crucial open-source infrastructure, tooling, and applications.

The ECF will lead the way toward greater coordination among existing projects in the space who share a common interest of building out base infrastructure and supporting a more robust ecosystem of emerging projects. It is anticipated that ECF members and others will follow with their own category-specific onramps and support networks which can provide a continued pathway for new entrants into the Ethereum community.

The founding team of the ECF consists of respected founders and advisors, and major stakeholders with experience and deep understanding of the dynamics of the blockchain space.

Perhaps most notably, however, the fund boasts the involvement of ethereum creator Vitalik Buterin, who confirmed he is an advisor.

“Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished,” Buterin said in a statement.

He continued:

“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 make that possible.”

More broadly, the ECF is not the only project of late to seek to bolster the ethereum blockchain and its surrounding ecosystem.

The Ethereum Foundation, the non-profit that oversees the platform’s development, announced two subsidy programs in January which will serve to incentivize developers to implement scaling solutions. Likewise, the Enterprise Ethereum Alliance provides resources to businesses hoping to adopt ethereum and links Fortune 500 enterprises with startups.

As such, those involved in ECF expressed optimism their project would encourage others to join what they see as a wider effort.

“One project in isolation can create a product to disrupt an industry,” Jun Hasegawa, founder of OmiseGO said, “but by working together we can create a framework that will change the world.”

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