The Ethereum Foundation, the nonprofit that monitors ethereum development, has officially unveiled two subsidy programs for research into increasing transaction processing on the ethereum blockchain.
On Tuesday, Ethereum Foundation member Stanislaw V ysotsky blogged about the network starting to hit one million daily transactions. He believes that scaling the network is the "single most important key technical challenge" that developers need to solve before blockchain applications become commonplace.
Therefore, the purpose of these subsidy programs is to incentivize developers to implement two scaling proposals: sharding and layer-2 protocols on top of existing blockchains.
Sharding is the process by which some nodes on the blockchain verify transactions without the participation of each node. The current developers of Ethereum will complete the specific specifications of the sharding protocol, and at the same time look for teams to implement and release on the Ethereum test network.
Layer 2 protocols, on the other hand, are a different approach. It puts transactions under the Ethereum blockchain mainnet. To process transactions, the network allows transactions to enter and leave the blockchain, but does not actually process transactions.
According to the blog, the subsidy for each scheme ranges from $50,000 to $1 million and will cover development costs. Successful teams in both solutions can participate in protocol execution on the Ethereum mainnet in the next phase.
In addition to research conducted by ethereum developers, the foundation also needs third-party attention on scaling issues.
Stanislaw Vysotsky's blog writes:"At the same time, independent development teams, companies, universities and academic groups are welcome to apply. We understand that different types of applicants may require different formats and processes. We are happy to flexibly meet the needs of individual teams."
Ethereum Foundation Announces Multi-Million Grant Program for Scaling Research
2018-01-06 19:30:56 Primitive 7551 Reading
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