Ethereum Foundation Grants Nimbus additional $650K

Ethereum Foundation Grants Nimbus additional $650K

Nimbus was awarded a grant of $650,000 from the Ethereum Foundation to continue its work on light Ethereum 2.0 clients, a project that aims at enabling smartphones and built-in devices to run smart contract-capable nodes.

In March 2018 The Status Network launched Nimbus as an infrastructure project, and received funding from both the Ethereum Foundation and Gitcoin, with the foundation committed a total of $1.65 million so far.

The amount will be used to bring Nimbus into a state of readiness for development, as the next milestones will include testing and eventual release of a client that supports the beacon chain of Ethereum.

Jacek Sieka, Head of Research at Nimbus, said in a press release today:

“We have been making good progress on Nimbus and this grant enables us to not only continue our R&D of the ETH2.0 client, but also explore additional areas of focus which can make Nimbus an even more versatile and important piece of infrastructure and accelerate the upcoming development phases.”

Nimbus will allow users to connect to the forthcoming Ethereum Serenity network, like existing Ethereum (ETH) clients such as Mist and Parity.

The main distinction is the planned devices’ support other than computers or servers. Apparently, the Ethereum blockchain is too resource-taxing for running on a smartphone. Any wallet on the phone must be connected to an external node, an arrangement dubbed Simplified Payment Verification (SPV).

Sieka further explained that, Nimbus lets weaker devices link entirely to the network:

“The way we are building and designing Nimbus lends itself to more than an SPV wallet replacement. It will have the capabilities of processing and managing any type of smart contract transaction, not only wallet functions.”

It is worth mentioning that, devices that can support Ethereum nodes include the Raspberry Pi, point of sale modules, and other embedded devices as well.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.