The cryptocurrency exchange Kraken donated $250,000 to developers working on upgrading the Ethereum network.
It’s up to us to support the open-source innovators who are building the next generation of #Ethereum ✨🚀
Our donation to the @Ethereum Foundation will be awarded to node developers & projects that empower the network 💪⛓
Find out more in our blog: https://t.co/psY3F3TVYz pic.twitter.com/NWV9iK3xnU
— Kraken Exchange (@krakenfx) August 24, 2021
"We believe that our duty is to support open-source innovators who are building the next generation of Ethereum, one of the key pillars of the cryptocurrency ecosystem," the statement said.
The funds will be directed to the non-profit Ethereum Foundation, which will distribute them to various developers. However, the money will be released only as projects reach certain milestones.
In January, the platform Reddit announced a partnership with the Ethereum Foundation to develop scaling solutions for the Ethereum blockchain, the second-largest cryptocurrency by market capitalization.
As reported in 2020, in the second quarter it awarded 28 grants totaling $3.884 million.
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