Ethereum Heading towards $1000 , Foundation Announces Subsidised Research Programs
Jan, 04th 14:58
As a new year’s gift to the blockchain community, Ethereum creator Vitalik Buterin, in his first blog post of 2018, announced two subsidised programs for research and development of measures to support the increasing number of transactions in the blockchain.
For each program, subsidies will cover the development cost and will range between $50,000 to $1 million.
Ethereum is the leading blockchain in the current market, and the Ethereum Foundation unveiled the program as the blockchain surpassed 1 million transactions per day.
In the blog post, Buterin explained the current challenges faced by the blockchain network with the increasing number of transactions and then suggested two ways to overcome these challenges and make the network more efficient. He also pointed out that “the single most important key technical challenge” that blockchain developers should work on before the mass adaptation of the technology is the scaling of the network.
Ethereum is currently the third-largest cryptocurrency by market value, after being dethroned by another altcoin, Ripple’s XRP, last week. On the technical charts, the market has made higher highs.
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