Ethereum Foundation Gives TrueBlocks $120K Grant
The Ethereum Foundation (EF) awarded Philadelphia-based blockchain tech firm TrueBlocks with $120,000, according to media reports.
TrueBlocks was granted the funds in order to pursue its concept of a completely decentralized method of obtaining information from ETH addresses as well as smart contracts. Thomas Jay Rush, TrueBlocks’ founder, said that by pursuing this method, he is attempting to understand what is necessary in order to provide data to the masses without sacrificing privacy.
Jay Rush, the founder of TrueBlocks, supports an open-book strategy; he is obsessed with transparency and has a firm belief that the companies actions and transactions must be an open source available at all times. Based on the idea of decentralizing all the smart contracts and information from Ethereum Foundation; Trueblocks’s grant is research-support funding to create developer libraries that are open-sourced in addition to handling all customers’ bookkeeping, auditing and monitoring, in a collaboration with Rush.
Supporting the Future of ETH
There’s no doubt that the ETH Foundation has the desire to expand and grow the ETH blockchain at heart by investing in several projects that are working on its developing and strengthening its technology; it has a dedicated Grant Team that’s responsible for approaching any emerging or developing companies working with the intention of benefiting and adding to the foundation.
Just over $10 million was given to an array of institutions in support of their ETH related platforms recently which marks it as their fourth generous giveaway to twenty diverse groups with a total of $4 million spent to backup ETH.