Ethereum Leaders Donate to Moloch DAO and Plan $30M Investments

Ethereum Leaders Donate to Moloch DAO

During the Ethereal Summit held by ConsenSys on May 10, Joseph Lubin and Vitalik Buterin, co-founders of Ethereum and leaders of ConsenSys and the Ethereum Foundation respectively, both donated 1,000 Ether to Moloch DAO. Moloch DAO is a crowdfunding organization established by Ameen Soleimani, the CEO of Ethereum project Spankchain, aimed at funding open-source Ethereum infrastructure development.

ConsenSys and the Ethereum Foundation's donations bring Moloch's total funds to $1 million. Buterin also previously served as an advisor for Ethereum Community Fund, which initially invested $100 million in infrastructure development and has since announced support for several teams.

Additionally, the Ethereum Foundation's Executive Director, Aya Miyaguchi, announced at the summit that they plan to invest around $30 million in various projects within the ecosystem over the next 12 months. These investments will focus on improving Ethereum's performance and security, as well as supporting core development and increasing awareness of Ether through activities such as hackathons, public relations, and talent recruitment. The foundation also plans to sponsor academic teams and organizations to attract top researchers and developers to Ethereum. Miyaguchi also announced that the next Ethereum Developers Conference will be held in Osaka on October 8-11.

Meanwhile, Ryan Selkis, the CEO of crypto analysis firm Messari, recently predicted that Ethereum 2.0 will launch by 2021.

These developments demonstrate the continued commitment of Ethereum's leaders to furthering the development and growth of the Ethereum ecosystem.

Ethereum 2.0 Transition Delayed until 2021

The transition to Ethereum 2.0, which will involve moving from the current proof-of-work algorithm to the more energy-efficient proof-of-stake protocol, has been delayed until next year.

It is expected that the current proof-of-work algorithm will remain in place for at least two to three years, and the transition to proof-of-stake will take longer than anticipated.

Proof-of-work vs proof-of-stake

The delay is seen as an opportunity for developers to focus on improving the existing Ethereum blockchain, while also addressing the challenges posed by the ongoing COVID-19 pandemic.

Despite the delay, the Ethereum community remains optimistic about the future of the platform, and is confident that the transition to Ethereum 2.0 will ultimately be successful.

Ethereum developers working to improve the platform