Report published by the Ethereum Foundation reveals that Ethereum has 0.3% of total circulating ETH

These figures published by the treasury of the Ethereum a decentralized open-source blockchain with smart contracts functionality. Foundation reveal that the organization holds more than $1 billion in funds ETH, which would be destined to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. their work in the years to come.

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A report recently published by the Ethereum Foundation details that, the organization responsible for promoting the adoption and use of the technology Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. of the project, it currently has 0.3% of the total supply of the ETH currently in circulation.

The report published by the Ethereum Foundation

The report in question was issued by the treasury of the Ethereum Foundation, el cual detalla que para el pasado 31 de marzo la organización disponía de unos USD $1.300 millones en ETH, plus about $300 million in investments outside the crypto sector and another $11 million in other cryptocurrencies.

In this regard, the director of the Ethereum Foundation, Aya Miyaguchi, comentó:

“We believe that more decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. funding is important for the Ethereum ecosystem… We try to continuously allocate resources to third parties that we believe can make better decisions than us within certain domains.”

It is worth noting that this is the first time that the Ethereum Foundation publishes an annual financial report detailing the current status of its reserves, but what it does do on a regular basis is to announce funding and contributions to support projects that operate on the Ethereum, as well as those that contribute to improve the operability of its ecosystem.

Miyaguchi shared through his social networks the report published by the Ethereum Foundation, and invited those interested in learning more about the organization to be attentive to the Devconnect event, which will be held soon in the city of Amsterdam.

1. Today we’re publishing the EF report! We hope it helps the community understand what the Ethereum Foundation is, our core principles, and our vision of Ethereum as an infinite garden.

Read it here: https://t.co/jpUzvKS8F0

– Aya Miyaguchi (ayamiya.eth) (@AyaMiyagotchi) April 18, 2022

The capital capital is most commonly defined as the large sum of money you would use to invest. available

Taking the data published by the Ethereum Foundation in the report and corroborated with market an area or arena, online or offline, in which commercial dealings are conducted. information, 0.3% of the ETH currently in circulation would correspond to an estimate of more than 361,000 ETH, figure that at the current exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. rate corresponds to about USD $1.087 billion, a figure below the one contemplated in the official document due to the recent drop seen in the price of the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. in the last 24 hours.

In terms of the breakdown of funds, the Ethereum Foundation indicated that it made a total expenditure of USD $48 million in funds ETH, which is divided as follows:

• 21.8 million for core layer research and development: This includes the core network a network refers to all nodes in the operation of a blockchain at any given moment in time. upgrade and external inputs for stress testing.
• Another $9.7 million for community development.
• USD $5,9 millones destinados para la plataforma de desarrollo.
• USD $5.1 million for internal operations.
• USD $3.6 million was allocated to ZK’s applied research and development.

And finally, outside of the previously mentioned figure, there was a total of USD $19.6 million earmarked for its ecosystem support program.

Expectations forThe Merge

On the other hand, for both developers and the community, the bulk of the expectations are placed onThe Mergethe next major upgrade planned for the Ethereum, with which the algorithm a process or set of rules to be followed in problem-solving or calculation operations, usually by a computer. will officially start operating. Proof-of-Stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. (PoS) to optimize and improve block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. processing.

While this update was expected to arrive in June, the main developer of the new version of Ethereum, Tim Beiko, clarified that this will not be possible as such, but that they continue to work to get to this in the shortest possible time.

Beiko commented:

“It won’t be in June, but it will probably come in the months after that… There’s no clear date yet, but we’re definitely in the final chapter of Proof-of-Work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. on Ethereum.”

• The Merge: Ethereum to PoS switch will come in the “months after” June
• Ethereum developer Virgil Griffith sentenced to 5 years in prison in the U.S.
• Ethereum avanza en su transición a PoS tras activar con éxito bifurcación ‘shadow’

Source: Decrypt , Ethereum Foundation report

Version by Angel Di Matteo / DiarioBitcoin

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