The Ethereum Foundation is thrilled to announce a scalability, usability and security grant of five million dollars (USD) to Parity Technologies.

For several years, Parity Technologies has been an invaluable member of the Ethereum ecosystem for their leadership in core development efforts, their Parity Ethereum client and more. Their work has continued at a blazing pace. At Devcon4 in Prague, Parity team members presented their plans to develop a Serenity implementation, exampling an exciting direction for the years ahead.

By all metrics, Parity is a major technical contributor to the Ethereum project, and they've notably done so as a self-financed and open-sourced effort since their founding.

The Ethereum Foundation is committed to funding teams and individuals building the common infrastructure around scalability, usability and security. To that end, we couldn't think of a more applicable fit for a grant given Parity's constant push to raise the technical bar and their pinpointed focus on next generation advancements like proof-of-stake, sharding and WebAssembly.

We have been delighted to see our ecosystem rally around and support technical merit and value alignment, and we are devoted to using our resources to further this mission too. We do so responsibly through milestone-based grants to projects, both large and small, commensurate with the potential impact of their work.

This grant will fund Parity's work on Casper, sharding, light clients, developer tools, QA, audits and infrastructure improvements. Funding will be delivered in several tranches, the first of which supports development that Parity has already completed. Others are contingent upon reaching explicit milestones which include:

• The completion of eWasm compatibility work

• Shipping a light wallet for mainnet.

• The successful completion of Phase 0 and Phase 1 of sharding.

We are grateful for Parity Technologies' hard work and commitment to Ethereum, and we hope that this grant serves as a reminder of how much they have already contributed, as well as an indicator of an exciting future. Please join us in congratulating Parity Technologies on receiving this major Ethereum Foundation grant.

Ethereum Foundation Team