Six crypto entities including exchange Kraken and decentralized finance (DeFi) protocols Uniswap and The Graph have donated $250,000 each to efforts around upgrading the Ethereum blockchain.
- The $1.5 million donation will support execution-layer teams working on technical upgrades to achieve "Ethereum 2.0," according to an announcement Tuesday.
- The developments, most recently Ethereum's "London" hard fork that went live on Aug. 5, will see the network transition to a proof-of-stake model.
- As well as Kraken, Uniswap and The Graph, donations are being made by DeFi protocols Compound, Lido and Synthetix.
- The five Ethereum clients who will receive this funding are Besu, Ergon, Geth, Nethermind and Nimbus.
- Ethereum's goal is to lessen the risk associated with the network's overreliance on a single entity.