Posted on

Status Awarded Ethereum Foundation Grant To Tackle Scalability

0 Total shares Awarded Ethereum Foundation Grant To Tackle Scalability

The Ethereum Foundation has granted Status blockchain startup a $500K USD grant. The startup is to use the money to accelerate research and development on the Ethereum Client 2.0. The grant comes at a time when the Foundation is looking for ways to accelerate Ethereum’s mass adoption, especially with its scalability constraints.

Blockchain Scalability Debacle

Ethereum’s mass adoption faces a string of hurdles, key among them being a lack of intuitive user experience. Deficiencies when it comes to interoperability, as well as a non-technical target audience, are just some of the other challenges. However, one cannot dispute the fact that scalability remains the single biggest issue to almost all blockchain projects.

Current blockchain designs can only process less than 15 transactions per second (TPS). In contrast, Visa and other money transfer services can process up to 45,000 transactions a second. It is for this reason that the likes of the Ethereum Foundation are teaming up with other projects in a bid to come up with viable solutions.

Solving scalability issues on blockchains essentially involves two main paths. It involves the creation of better designed base-layer blockchain protocols. The protocols must adhere to decentralization principles as well as security properties. The second path involves creating layer 2 protocols that send transactions off-chain. Such protocols only interact with the underlying blockchain in case of system attacks.

Status Scalability Solution

The Ethereum Foundation is in the process of identifying teams that have the potential to address underlying blockchain issues. Status is the latest to see their work noticed by the Foundation. The blockchain platform intends to use the grant to translate the latest Ethereum 2.0 research.

The firm also intends to use the scalability grant to ensure Nimbus design has liberal licensing to enable mass deployment of Ethereum 2.0. Exploring emerging technologies such as libp2p and Mesh Networking is also at the top of the list. By doing so, the firm should be able to broaden Ethereum’s reach to restricted networks.

The scalability research grant is an important milestone as it validates the team’s efforts. The grant also indicates confidence and backing of the Foundation as the team continues to work on blockchain solutions

The Nimbus team has been working on this Eth2.0 implementation since March of this year, and we are pleased that the work has now reached a stage that warrants such a grant. Ultimately, our goal is in line with that of the Foundation – the mass adoption of Ethereum,” Nimbus notes in a statement.

Risk Disclosure

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Join our Telegram Group To Stay Up To Date With Crypto News


Daily updates


We are your go-to news source for everything cryptocurrency and blockchain in the U.S. and internationally.

CryptoBlockWire is your home for the latest cryptocurrency and blockchain news. It’s our job to provide you with access to the latest breaking news regarding Bitcoin, altcoins, and blockchain technology. There is nothing more exciting than being at the forefront of the cryptocurrency movement and financial consumer technology. CBW’s extremely knowledgeable writing staff use their experience and enthusiasm to publish the most current, accurate, and helpful stories in the entire crypto-sphere.