In what seems to be a massive budget cut, Ethereum allocates $8 million in grants to its projects and programs compared to last year’s allocation.
The Ethereum Foundation officially confirms the total award funds amounting to $8.04 million in grants. The community, education, consensus layer and other related projects received the grants in Q3.
Over 60 projects in different categories, including education and community, also immensely benefited. Other projects include general research, indirect funding, developer experience, cryptography and tooling.
Budget Cuts from Ethereum
In 2021, the Ethereum Foundation granted its projects almost $23.8 million in funds. In 2022, the foundation granted a total of $8.2 million in Q1 and Q2. This nearly represents a budget cut of about 46%.
The grants allocated to the consensus layer will support key research areas for improvement in data availability. The process will also involve review and formal verification of the safety of the fork choice in Ethereum’s Proof of stake.
Five workshops will be organized under the community docket. The workshops will provide developers with the fundamentals of building a web3 product. The workshop will be dubbed the Zero to Product BootCamp.
Other events will include talks about the latest ZK research, SNARKs, STARKs privacy and mathematics.
The team will also work to explore and implement a fully on-chain, open-source protocol. The protocol will focus on public goods funding by developing voting logic and disbursement platforms.
Ethereum will also conduct meetups in Utila, Honduras, combining conservation efforts with Web3.
What next for developers?
The grants will also support BuidlGuidl. BuidlGuidl is a developer community and a series of educational initiatives. The community focuses on onboarding more developers to the Ethereum network.
Therefore, funding will aid in boosting the developer experience and tooling. Toolchain will be used for analyzing smart contract systems using game theory.
With budget cuts, Ethereum program success remains unpredictably achievable.
