Ethereum projects receive nearly $ 25 million

The block recently conducted an investigation and concluded that more than 150 Ethereum (ETH) projects have received grants totaling nearly $ 25 million.

Who is the main financer of Ethereum projects?

According to the study, the Ethereum Foundation is one of the largest grant providers in the industry.

Previously, we found that Ethereum projects received total grants of $ 25 million. The Ethereum Foundation contributed $ 21 million of this total.

That said, the investigation found that the Ethereum Foundation contributed approximately 84% of the grants granted to the industry.

However, it doesn’t end there. The Ethereum Foundation tops the list not only in terms of the value of grants awarded, but also in terms of quantity. According to research, the foundation has awarded a total of 94 grants.

Others that have given grants are the Ethereum Community Fund, the Aragon Foundation, ConsenSys and Protocol Labs.

Who received the most grants?

According to the study conducted by The Block, the Ethereum projects that have received the most grants to date are as follows:

1. Parity Technologies: Company that focuses on the infrastructure and development of platforms and applications based on Ethereum. Jutta Steiner, founder and CEO of the company, also assures on its website that the company is looking for it “Create a fundamentally new way to create online services.”
2. Starkware: This is a project that aims to provide blockchain scalability and data protection.
3. Prysmatic Labs: It is responsible for building the technical infrastructure for the Ethereum Blockchain.
4. L4 Research: Responsible for building Web 3; “A decentralized website that eliminates intermediaries and encourages users to contribute.”, Secure your website.
5. Status: It is a secure messaging application, a crypto wallet and a web browser3. The company’s mission is to be a secure communication tool that defends human rights.

Likewise, a very important fact that research has found is that the most funded category is Ethereum’s scaling initiatives like ETH 2.0.

Ethereum 2.0

Remember that Ethereum 2.0 has the purpose of improving the productivity and efficiency of the blockchain. Such an update will trigger the transition from a mining consensus mechanism to a proof of stake (PoS) that encourages users to offer their cryptocurrencies as a reward.

At this point, the update, along with Bitcoin’s Halving, is considered one of the catalysts for the bull market.

In fact, David Hoffman, ReaIT’s Chief Operating Officer, assures that there will be two fundamental events in the coming months that will be a perfect catalyst for the bull market.

With this in mind, Hoffman explains that the introduction of the new consensus mechanism will result in a decrease in the amount of ETH on the market, which will result in a supply shock that will favor price appreciation.