Tezos Foundation Ready to Fund Ethereum’s Projects

Prerna Sengupta
Prerna Sengupta is a writer for Thecoinrepublic. She is a law student at NALSAR University of Law, Hyderabad. She is interested in Tech Law and is especially keen on cryptocurrency, blockchain, and Bitcoin. She hopes to pursue this field in the future as a lawyer.

Tezos Foundation Ready to Fund Ethereum’s Projects

  • The Tezos Foundation (TF) is willing to provide funding for some of the Ethereum Foundation’s projects that were abandoned due to lack of financing.
  • The Ethereum Foundation is planning on shutting down a lot of their international teams in 2020.
  • Nina Breznik tweets on how her team wishes to continue on a multitude of projects they embarked on but can’t anymore because the Ethereum Foundation is not willing to fund them.

The Tezos Foundation (TF) is willing to provide funding for some of the Ethereum Foundation’s projects that were abandoned due to lack of financing. The Tezos Foundation is a Switzerland based not-for-profit organization working on promoting Tezos (XTZ) digital currency.

A Tezos blockchain does not rely on mining but rather on proof-of-stake based consensus model. The Ethereum Foundation is planning on shutting down a lot of their international teams in 2020 according to Nina Breznik whose team is also one of those being laid off.

Their team is building a super lightweight embeddable solidity editor.  Along with this, they started with the search engine for solidity source code.

Nina’s team has been volunteering and also working on onboarding new developers into coding, especially into javascript and p2p world, for the past 5 years. They currently have no funding to continue working on any of the aforementioned projects because of Ethereum’s decision to stop funding some projects, especially the relatively newer ones.  

Ryan Lackey, Tezos Foundation CSO, and Council Member responded to the messages Nina posted on Twitter regarding there is no funding for her team’s projects and said that Tezos Foundation was willing to finance Ethereum Foundation’s projects in a cross-blockchain way. Many are of the opinion that the Ethereum Foundation might be going bankrupt, however, nothing is certain as of now.

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