Ethereum Foundation announced on Monday, January 7, on the allocation of team Parity Technologies grant in the amount of $5 million Funds will be used for further work on scalability, usability and security of the Ethereum platform.

The #Ethereum Foundation announces major grant to @ParityTech. #BUIDL

— Ethereum (@ethereum) January 7, 2019

“For several years Parity Technologies is an indispensable participant in the Ethereum ecosystem and plays a leading role in such developments as the client Parity Ethereum,and more”, — stated in the blog Ethereum Foundation.

It is also noted that at a recent conference in Prague Devcon4 team Parity presented plans for the work on the implementation of the Serenity, which in subsequent years will be an important direction in the development of the whole platform.

“Parity makes an important technical contribution to the project Ethereum, and it is noteworthy that from the beginning all this was done in self-financed and open-source”, — added the representatives of the Ethereum Foundation.

The grant will provide Parity funding for further work on Casper, sharding, light clients, developer tools, quality assurance, audits and infrastructure improvements.

Funding will be divided into several tranches, the first of which aims to support the completed development. Subsequent tranches will be released upon reaching certain achievements and Parity will help to finalize the compatibility mechanism eWasm, to run a lightweight client in the main Ethereum network and successfully complete the zero and the first phase of sharding.

We will remind, in December of last year Parity Technologies has launched a beta version of the tool Substrate, allowing you to create customized blackany for decentralized applications. In the same month, the founder of Ethereum Vitalik Buterin supported financial startups Prysmatic Labs, ChainSafe Systems and Sigma Prime, listing them at 1000 ETH.