On May 21, Ethereum Foundation declares about its $30 million project for network development in the upcoming year. The announcement was made on its official blog content.

The classification disclosure includes the future ethereum at $19 million, supporting today’s ethereum at $8 million, and the developer reinforces at $3 million. Project Ethereum 2.0 will get the majority funding. It involves client groups, documentation, research, communication, and projects like Plasma.

Plasma is a second level project and a scaling solution for a smart contracts network. Vitalik Buterin and Joseph Poon initiated the project in 2017. It will empower the blockchain to represent a peg of decentralized financial applications worldwide, as per the white paper.

The announcement regarding a $30 million project budget was first made at ConsenSys’ Ethereal Summit on May 10. Aya Miyaguchi, executive director of the Ethereum Foundation says that it intends to involve academic to Ethereum. This would pull high-profile researchers, developers, and allowance to academic groups and institutions.