Nimbus Receives Grant from Ethereum Foundation

January 29, 2020 | Wednesday

Cryptocurrency

   

In a press release on January 28, the Ethereum Foundation awarded a $650,000 grant to Nimbus. And this is for continuing its work on light Ethereum 2.0 clients. The project aims to let smartphones and embedded devices to operate smart contract-capable nodes. Nimbus is an infrastructure project launched back in March 2018 by Status. Initially, it was created as a way to ensure access to the Status app on all smartphones. Then, they later expanded its scope into a public good for Ethereum. Nimbus' head of research, Jacek Sieka, stated, "The R&D performed by the Nimbus team is not specific to Status or The Status Network, but rather designed as a public good for anyone to use, change, and benefit from." Aside from that, Nimbus is co-funded by Status, the Ethereum Foundation, and somehow, by Gitcoin. As of now, the foundation has committed a total of $1.65 million so far. Then, they will use these funds to put Nimbus into a production-ready state. This will happen as the next milestones will involve the testing and eventual release of a client supporting Ethereum's beacon chain.

More on Nimbus

Similar to the existing Ethereum clients like Mist and Parity, Nimbus will enable users to connect to the upcoming Ethereum Serenity network. Its first distinction is its planned support for devices aside from computers or servers. And the Ethereum blockchain is recently too resource-taxing to be initiated on a smartphone. Every phone-based wallet must connect to an external node - an arrangement called Simplified Payment Verification (SPV). Sieka explained, "The way we are building and designing Nimbus lends itself to more than an SPV wallet replacement. It will have capabilities of processing and managing any type of smart contract transaction, not only wallet functions." Also, devices that could support Ethereum nodes include the Raspberry Pi, point of sale units, and other embedded devices. Some people in the developing world do not have access to the latest hardware all the time. But Nimbus will purportedly democratize blockchain use around the globe and give the technology to people who need it most. The project depends on Ethereum 2.0 improvement, and further slips in its roadmap would also have an impact on Nimbus. In addition to that, Sieka thinks the relationship with Serenity as symbolic, with its roadmap helping coordinate priorities and focus. Nonetheless, the Ethereum Foundation expects that it might take a few years to finish Serenity. And the implementation in practice of Nimbus' full vision is still quite far.

   

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