Ethereum Foundation to sponsor Eth2 staking projects
November 16, 2020, 6:40AM EST
1 min read
The Ethereum Foundation is set to sponsor projects that are working within the Eth2 staking ecosystem.
To that end, the non-profit has invited teams and individuals, particularly those that are building Eth2 staking tools and guides, to apply for grants. The invitation is open until December 22 for all projects.
"The point of the program is to help contribute to the long term health of the Eth2 staking and validator community," said the foundation. "Ideas and projects at any stage of development are welcome: Idea phase; Proof of concept; Work in progress, and Fleshed out project."
The foundation's grants program comes as Ethereum is preparing to move from a proof-of-work system to a proof-of-stake mechanism. Proof of stake will arrive with the Beacon Chain, which is expected to go live on December 1, when at least 524,288 ETH is staked in the Eth2 staking deposit contract.
So far, however, only 95,200 ETH has been deposited in the contract. ETH holders are probably waiting to deposit until the last day to avoid opportunity costs. In other words, ETH holders have little incentive to lock their ETH now when they can utilize it for other activities, such as lending to earn yield or use it as collateral for trading.
Eth2 stakers can withdraw their stake only when Ethereum fully transitions to a proof-of-stake system, or once the Ethereum mainnet becomes a shard, which is expected to happen sometime in 2021.
Earlier this month, Pinata, the NFT media company known across the industry as a prominent leader in NFT storage and management, announced the release of their newest product feature dubbed ‘Submarining.’
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.
While many considered highly-priced NFTs such as Bored Apes Yacht Club (BAYC) could be sound investments with decent returns, the lack of a proper pricing mechanism for NFTs could hamper the long-term development of the space. The absence of reference pricing may be a barrier to entry for investors.