The Ethereum Foundation has not made any major progress since its Constantinople hard fork in recent months, leading to a significant decline in ETH with the impact of the market.
Ethereum Opens The Pouch’s Mouth
Nevertheless, the Ethereum Foundation has not slowed down in network development and has made a generous donation with Serenity to improve the ETH 2.0 updates. The updates will bring Proof-of-Stake to Ethereum and solve the scale, the network’s biggest problem. Some donations were made directly by the Ethereum Foundation, while others were made in partnership with The ETH-based studio ConsenSys.
Prysmatic Labs was the largest share of the donations and 725,000 dollars. Prysmatic Labs, as the name implies, is responsible for the development of the Prysm client. The second most funded company was Status, which was responsible for the development of the Nimbus client. Status has exactly $500,000 in funding.
Sigma Prime, which received a donation very close to Nimbus, also plays an important role in the development of the Lighthouse client, and with $485,000, it seems that its efforts have already paid off.
Although the Ethereum Foundation continues to develop at full speed, things are not going well for the world’s fifth-largest cryptocurrency at the moment, based on its total market value. Ethereum fell as low as $185 after a sharp decline but has now managed to stay above that level of support. Some analysts stress that ETH could soon fall by 20 percent.