Ethereum foundation reveals the next Devcon location

The executive director of the Ethereum Foundation announced on ConsenSys’ Ethereal Summit that the foundation is considering to invest in projects across the globe, using of thirty million dollars ($30M) as its investment within the next year.

This may include investment in the projects for the improvement of the foundation’s performance and security.

This may also include improvement of its relations with its current partners, improvement in the currently used proof-of-work (POW) algorithm, development, and support of general core.

It would also entail increasing the interest of new programmers and developers, organization of hackathon, an event for the collaboration for programmers, developers, graphic designers, project managers etc., so that the general public may take interest etc.

Ethereum also plans to make offers to bring academic involvement in the foundation. It is hoped that doing this would attract people who are looking to research in these fields, developers as well as the fund’s manager Miyaguchi also announced that the company also wants to invest in high potential.

Miyaguchi made it public that Ethereum wants to support MolochDAO. MolochDAO is an experimental, decentralized system that wants to invest in the Ethereum infrastructure.

Recently, Missari Ryan Selkis, the CEO of crypto analytics, predicted that it will further take two years for the transition of the Ethereum 2.0 proof-of-stake (POS). He also said that the PoW algorithm will stay until two to three years.

Talking about the Ethereum 1.x, he mentioned that it is quite good, as it is a thoroughly developed algorithm, proving itself with bitcoin (BTC) and Ether (ETH) for the past several years.