On February 16, six large-scale Blockchain projects OmiseGo, Cosmos, Golem, Maker and Raiden, achieved the initial multi-million dollar coin last year, with the company Japanese venture capital firm Global Brain, have created the Ethereum Community Fund (ECF), to fund projects and businesses in the Ethereum ecosystem.

The ECF will begin with $ 100 million raised by the six Blockchain projects. Some members of the Ethereum Foundation, including the creator of the Ethereum, Vitalik Buterin, plan to advise the fund. Buterin told TechCrunch:

"Ethereum has grown beyond my expectations in recent years, but the work is clearly not over.The value that corresponds to the hype should to be the mantra of 2018; efforts such as the ECF that help to organize the development of the ecosystem will help make this possible. "

Buterin's personal goal to fund open-source projects

In September 2017 Buterin disclosed that its shares of $ 1.8 billion OmiseGo project advisor and the $ 370 million Kyber Network decentralized cryptocurrency exchange will be allocated in a private fund to finance open source projects building innovative technologies such as scale solutions for the Ethereum Blockchain network.

Buterin pointed out that he will no longer advise any other Blockchain project other than OmiseGo and Kyber Network and that all the incentives he has received from both Blockchain projects will be used to improve the Ethereum protocol. At the time, Buterin declared:

"I announced that 100% of my shares of OmiseGo + Kyber Network advisor will either be donated to charities (AMF, GiveD, SENS etc.), either privately used to finance second-tier Ethereum infrastructure (state chains, multisigues portfolios, etc.) or a combination of both. "

But Buterin noted that all projects eligible for private funding must be fully open. -source and have no profit system in place.

"Must be 100% open source, no profit plan (including the ICO token), must be good, "noted Buterin, pointing out that open-source projects"

"Open source infrastructure projects are currently struggling to secure funding without the ICO + symbolic way, I hope it can help. "

Given Buterin's support for open-source projects, the same rule of funding only open-source projects used by its private fund will probably be applied to 100 million CEE. TechCrunch said the grants would be in the range of $ 50,000 to $ 500,000, and some projects could even receive additional funding to complement the long-term development of technologies and solutions. Only open-source non-profit projects will most likely be eligible for grants.

Lack of developers working on scaling up

Previously, co-founder and crosstowner Augur Joey Krug publicly voiced his concerns about the lack of developers and open-source projects. source working on scaling solutions to improve the Ethereum network. Krug said:

"Ethereum really needs more developers on issues like sharding, stake proof, and plasma, right now it's all there just for example, Solidity is the subject of a formal audit. "

Without open-source scaling projects, the Ethereum network will continue struggling with scaling issues, and the network is currently processing a little over a million transactions a day.CoBase co-founder, Fred Ehrsam, also noted that the Ethereum network should be multiplied by 100 to support decentralized applications with millions of users.

Scale solutions to treat popular Dapps

In recent months, the arrival of successful decentralized applications such as CryptoKitties, CryptoKribs, Bench Gold and EtherCraft led the Ethereum Blockchain network to combat scale problems. Because decentralized applications such as CryptoKitties can significantly clutter the Ethereum network by processing multiple transactions each time a command is executed, an effective scalability solution is needed to meet growing demand

<img alt=" Dapp Radar "src =" http: //cointelegraph.com/storage/uploads/view/bc42959c2f75b5d1c3ecf8d7a78147e9.png "title =" Dapp Radar "/>

Source of the I & # 39; image: Dappradar.com

The development of scaling solutions such as Sharding and Plasma that can extend the transaction capacity of the Ethereum network can be accelerated by funds and grant schemes like ECF, and with that, Ethereum could evolve towards a better platform for decentralized applications