The Ethereum Foundation holds 0.3% of ETH coins and spent $21.8 million on R&D in preparation for the ETH merger. So let’s read more in today’s Ethereum news.

Ethereum’s foundation holds 0.3% of ETH coins and has $1.3 billion in Ethereum, $300 million in non-crypto investments, and $11 million in other cryptocurrencies. The foundation’s ETH holdings amounted to 0.3% of the total ETH supply and the foundation announced grant spending and donations on the blog, but this time it’s the first time it has published an annual financial report.

As the network matured, according to ETH Foundation Director Aya Mayaguchi, the foundation supported third-party intermediaries:

“[We believe] that more decentralized funding is important for the future of the Ethereum ecosystem. We are constantly trying to subcontract resources to third parties who we believe can make better decisions than we can in certain areas.”

Ethereum follows BTC, Eth, price, surge

She noted that she will share more details about the foundation’s vision. Last year, the foundation spent $48 million, and tier one R&D accounted for up to $21 million, including the ETH mainnet upgrade and network stress test grants. The ETH merger will move to a PoS consensus model on the ETH network, which has been postponed to Q3 in 2022. Tim Beikosaid the ETH core developer:

“It won’t be June, but probably in a few months after that. No firm date yet, but we’re definitely in the final chapter of [proof of work] on Ethereum.”

Community development accounted for $9.7 million, developer platform for $5.9 million, internal operations and support for $5.1 million, and applied ZK research and development 3, $6 million. Tier 2 R&D includes developer tools and software development kits that accounted for $1.9 million in spend. According to the report, the foundation has awarded $19.6 million in grants through its Ecosystem Support program.

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