The Ethereum Community Fund (ECF) is a massive collaboration between major Ethereum stakeholders with the goal of helping to fund projects built on the Ethereum blockchain. It is backed by organizations such as Cosmos, Golem, Global Blockchain Labs, and Raiden. However, the most famous participant in the fund is Vitalik Buterin, the well-known creator of Ethereum.
Vitalik hopes the Ethereum Community Fund will live up to its lofty expectations, stating:
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.”
Vitalik is a major voice in the Ethereum community and plays an active role in the Ethereum Foundation.
What Will the Ethereum Community Fund Do?
There are many blockchain collaborations designed to further the technology across the globe. In the case of Ethereum development, the Ethereum Community Fund is joined by the much earlier Ethereum Foundation – a non-profit organization that oversees development of the network. There is also the Enterprise Ethereum Alliance which helps businesses implement blockchain technology into their operations. The Ethereum Community Fund will pay monetary grants to promising projects based on the Ethereum platform. The fund’s website states, quote: “This program will be established as a permanent financial endowment to support and aid projects in building crucial open-source infrastructure, tooling, and applications.” According to Techcrunch, the size of the grants could range from $50,000-$500,000. The Ethereum Foundation also runs a grant program and recently announced plans to give out lucrative cash rewards to projects that can help Ethereum scale.
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