The Ethereum Community Fund will help to create new opportunities for the growth of the ecosystem.
On February 15, 2018, several projects in the Ethereum space announced their combined effort to establish the Ethereum Community Fund (ECF), meant to hasten the development of blockchain infrastructure and Dapps.
Cosmos, OmiseGO, Golem, Maker, Global Brain Blockchain Labs, and Raiden embarked on this endeavor with the mission of producing “an environment where teams and ideas can thrive, grow, and collaborate to become essential and functioning pieces of the broader Ethereum ecosystem.” It is anticipated that members of the ECF that are already well established will act as pillars for emerging projects by “building out base infrastructure and supporting a more robust ecosystem of emerging projects.”
Ethereum founder Vitalik Buterin said that the ECF will accelerate the development of structure that Ethereum needs in order to thrive. “Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished. Delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help to make that possible.”
The collective projects believe that the best way to achieve this goal is by creating the “Infrastructure Grant program,” which would financially support individuals and organizations, enabling them to build “crucial open-source infrastructure, tooling, and applications.”
The Ethereum community has prided itself on being a do-ocracy, in which members are encouraged to take on roles and tasks the best suit their abilities. “This technology has incredible promise, but only by laying a strong foundation can we hope to see this technology reach its full potential and gain mainstream adoption,” said CEO of OmiseGO, Jun Hasegawa. “This begins with investment now in public infrastructure that is scalable, versatile, and decentralized.”
Hasegawa concluded with this sentiment:
“One project in isolation can create a product to disrupt an industry, but by working together we can create a framework that will change the world.”