Parity Technologies Awarded $5 Million Grant from Ethereum Foundation

London-based Parity Technologies has won a $5 million grant from the Ethereum Foundation to fund its work on improving the Ethereum blockchain, such as developments in Casper, sharding, light clients, developer tools, audits, and general infrastructure. Parity to Receive Funding in Tranches The foundation announced the grant via a blog post on Jan. 7th, explaining the funding will be supplied in “several tranches” to Parity. The first tranch is supposed to cover costs incurred while developing protocols that have been completed, while the remaining tranches are each scheduled for delivery upon completion of a main net light wallet, compatibility work on assembly standard eWasm, and Phase 0 and Phase 1 of sharding. Supplying funding in a tranch-based structure is an absent feature of the crypto-markets, losing favor to lump sum capital generated via ICOs. However, awarding grants on the completion of each individual project is a forward-thinking move on the…

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