PARITY RECEIVED $5 MILLION FOR THE DEVELOPMENT OF ETHEREUM 2.0

The Ethereum Foundation has allocated a grant of $5 million to the company Parity, which will develop solutions for the global update of Ethereum 2.0. The list of developments includes the introduction of the Casper Protocol and sharding functions, as well as work on the replacement of EVM called eWASM.

The grant funds will be spent on working with the Casper Protocol, the update Protocol Proof-of-stake, a solution to the problem of scaling called sharding, and also on the development of lung customers, new tools for developers, new developments in the field of auditing and infrastructure.

The company Parity founded by the former Director of security of the Ethereum Foundation Jutta Steiner specializes on the development of a blockchain infrastructure. The firm has developed a client for Ethereum called Parity Ethereum, as well as several services, including Substrate, allowing users to create customized blockchain networks for decentralized applications.