Ethereum Foundation opens call to finance projects on ETH 2.0

Key facts:

Phase 0 of the new network, Beacon Chain, would be activated on December 1.

The financing covers initiatives that are in any phase of development.

The Ethereum Foundation launched a call to sponsor proposals and projects in development related to the new Proof-of-Stake (PoS) network, Ethereum 2.0. The nonprofit organization invited programmers and ecosystem enthusiasts to offer “community grants.”

Interested parties have until December 22 to submit their initiatives no matter what stage of development they are in. That is, programmers can participate with ideas, proofs of concept, proposals already in progress or completed projects, as reported by the foundation on its website.

There are three basic requirements that all initiatives must meet and they are: they must be presented in English, the work must be open source with free license and, if the proposal is selected, it must be available on the internet through a URL.

The call is defined by seven selection criteria that include: potential impact on the new PoS community, quality of the contribution to the new participation system, clarity and organization in the documentation, news on how to reduce resistance to the new scheme and visualizations that help the non-technical public to understand the network, for example.

“The goal of the program is to help contribute to the long-term health of the ETH2 participant and validator community. If your proposal advances towards that goal, let us know! ”The statement reported.

It is not clear what the amounts of the subsidies are, or when they could be announced to the favored. Enthusiasts wishing to participate must complete a digital form and answer the 23 questions of rigor, ranging from personal data to a description of the initiative.

The Ethereum project and its developers have set out in recent years to migrate their smart contract blockchain from a protocol based on a Proof of Work (PoW) algorithm to a Proof of Stake one.

The network reconfiguration plan has gone through multiple stages and would be executed for various reasons, including the debated energy savings and greater efficiency of the blockchain. The security aspect of the protocol has also been questioned.

Phase 0 of the project, known as Beacon Chain, would be activated on December 1 once the 524,288 ethers required in the deposit agreement are completed. According to Etherscan the current figure, at the time of publishing this article, is 95,872 ethers.

Those users who wish to have a validator node on the network must transfer 32 ETH to participate. It is estimated that 16,384 validator nodes will be needed.

On the incorporation of the nodes, CriptoNoticias reported 10 days ago that the co-founder of Ethereum, Vitalik Buterin, contributed 1.5 million dollars or 3,200 ethers for the activation of the network. That is, the Canadian programmer, but of Russian origin, will have 100 validator nodes once the protocol is activated.