The Ethereum Foundation Offers Nimbus a $650k Grant

News / 28.01.2020

According to a press release on January 28, Nimbus has received a $650k grant from the Ethereum Foundation to keep working on light Ethereum 2.0 clients. The aim of the project is to permit smartphones and embedded devices to handle smart contract-capable nodes.

Status launched Nimbus in March 2018 as an infrastructure project. Both the Ethereum Foundation and Gitcoin provided funds for the project. So far, the Ethereum Foundation has contributed an aggregate of 1.65 million USD.

At first, the aim of the project was to guarantee access to the Status app on all smartphones but later, there was expansion for Ethereum.

According to Jacek Sieka at Nimbus, the research and development carried out by the team goes beyond both Status and the Status Network but was for the benefit of anyone.

Regarding what Nimbus stands for, it permits connection with the imminent Ethereum Serenity network as in existing Ethereum (ETH) clients like Mist and Parity.

The main difference is that it is planning to support devices other than computers or servers. At the moment, the Ethereum blockchain requires more resources for execution on a smartphone. There is a need for a wallet based on phones to connect to an external node, a provision known as Simplified Payment Verification (SPV).

Based on the explanations of Sieka, Nimbus will ensure full connection of weaker devices to the network. He said the features of Nimbus go beyond replacing an SPV wallet as they will be able to process and manage all smart contract transactions.

Raspberry Pi, point of sale units and other embedded devices will likewise be able to support Ethereum nodes. Due to the lack of access to recent hardware in developing countries, Nimbus is going to even up blockchain usage worldwide and offer the technology to those who need it most, said Sieka.

Due to the project’s reliance on Ethereum 2.0 development, Nimbus will be affected by more shifts in its roadmap. Sieka thinks the roadmap of Serenity is providing assistance in coordinating priorities and focus.

However, based on the estimate of the Ethereum Foundation, the completion of Serenity is going to take several years while the implementation of the complete vision of Nimbus practically remains very far.

 

Featured image courtesy of Bigstock. Source: Cryptopress

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Debasish Das is from India, an engineering graduate and holds a postgraduate degree in management. He has 10 years of experience in the financial sector, having worked for one of the biggest MNC banking groups in the country. Currently he has business in e-commerce, insurance and consultancy. As an avid blockchain and cryptocurrency enthusiasts he believes in investing in the future of technology, and feels this is going to make the world a single marketplace and also give the power from centralized banks and governments back to people.