Kraken Supports Ethereum 2.0 Client Teams, Alongside Five DeFi projects with Donation of $ 250,000 Each

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Kraken and five other DeFi project members are contributing $ 250,000 each towards teams working on the Ethereum upgrade. They also donated the amount to the ETH Foundation for the development of version 2.0 of the network.

In the donation, teams of open source developers such as Erigon and Besu, Nimbus and Geth will join the ETH Foundation.

The Ethereum Foundation revealed the source of the donations. They said that the advice came primarily from the crypto exchanges Kraken, Synthetix and Graph, Compound Grants as well as Uniswap Grants.

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These donations will be in addition the funds that the Foundation provided earlier for ETH’s execution layers teams.

The funds will be used to support the Ethereum team

We’re building together Ethereum’s different customer networks as the foundation. It is composed of clients from the Consensus Layer as well as Execution Layer; both are essential to future Ethereum mergers. The ad also states:

“The donation is $ 1.5 Million and goes to open-source developers like Nimbus and Besu, Geth and Erigon.”

The critical network infrastructure must be planned by the developer team to enable ETH’s transition. ETH must move on to the proof of work mechanism for proof of stake. August 24eThis is how you post on the Ethereum webpage:

“At the heart of what we develop together is a broad customer execution layer ecosystem. Today, we are pleased to announce Kraken-fx and Uniswap have donated $ 250,000 each for ETH 20 client team support.

| Source: ETHUSD on

Jesse Powel, cofounder and CEO at Kraken The company is proud to give back the hard work of the builders who have made crypto innovation possible.

Kraken proposed that Eth2 users would have wagered 800,000 ETH by July. At current prices, it’s worth approximately $ 2.5 billion. It had distributed 25,300 Ethereum in rewards from stake when it first began.

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This project is an attempt to ensure the security and stability of Ethereum’s constant growth and decentralization. Each element is exemplified in the diversity of customers, our belief that Ethereum will continue to succeed, and the strength the teams. The announcement.

Etherscan Reports

Launched earlier in the month: ETH Improvement Proposal upgrade 1559 It includes a flaring mechanism in its regulated gas royalty structure.

According to Etherscan dataEvery minute, 4.85 ETH (or nearly $ 15,300) is lost. More than 70,000 Ethereum (ETH), have been stolen or burned from the network.

Etherscan, a block explorer and an analysis platform for Ethereum is Etherscan. It is a decentralized smart contract platform. Etherscan reported that 31792.48 ETH had already been burned as of August 12, 2017, amounting to $ 99.871,306.

Featured image taken from Pixabay. Chart from


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