Vitalik Buterin, the creator of Ethereum, announced the launch of two financing programs aimed at solving the problem of network scaling. This issue is becoming more and more urgent taking into consideration the number of transactions reaching 1 million a day.
The essence of the programs
According to Buterin, network scaling is the most important technical challenge. The developers have to cope with this task before the active implementation of blocking applications. The focus of the programs will be twofold: data fragmentation and two-layer protocols. Financing for them will be from $50 thousand to $1 million. These expenses will mainly cover the costs of developing solutions. Also, there are links to additional materials on these areas and technological examples in the message. Details, including terms, conditions and payment schemes will be discussed with the participants of the program.
Buterin emphasizes that the size of grants for these programs is much higher than that for previous projects. Therefore, they expect a more significant result. He explained that they invite independent teams of developers, companies, universities and academic groups to participate. They understand that different groups of applicants may require different approaches and processes. That is why they are willing to be flexible to meet the individual requirements of the teams.
At the beginning of November, Vitalik Buterin unveiled a long-term plan for 3-4 years on the technical development of the Ethereum network. The idea of data fragmentation is the leading one in this project.