Vitalik Buterin of Ethereum believes that at a technical level, challenges pertaining to scalability needs to be addressed for blockchain applications to be widely adopted. To do so, partnering with the global community is the quickest solution.
In late January, the Ethereum Scalability Research and Development Program provided grants of 50,000-1,000,000 USD to groups across the globe. These grants are intended to work on two strategies to scaling: sharding (requires a small percentage of nodes to see and process every transaction) and off-chain (transactions only interact with the underlying blockchain in when needed) solutions. Vitalik wants to support a multi-pronged strategy toward Ethereum scalability.
Another titan that is contributing to the growth of cryptocurrency is Changpeng Zhao (CZ) of Binance. They have only just launched their crypto-fiat Uganda Exchange, with the goal of expediting the adoption of crypto among the masses. Certainly, they aren’t stepping foot into a well-developed financial market; they intend to educate and develop Uganda’s economy.
Launching Binance Lab 1 billion USD fund in a country where only 11% of the total population has a bank account is no doubt an uphill battle. But the view at the top is truly worth the endeavour, according to CZ. They want to invest in infrastructure of blockchain and study the real world application of it. Furthermore, they’ve reached out, via their charity foundation, to charities to practise recording everything on blockchain for 100% transparency – all admin fees covered.
