{"id":478879,"date":"2021-12-14T20:10:48","date_gmt":"2021-12-14T20:10:48","guid":{"rendered":"https:\/\/uniquehot.com\/?p=478879"},"modified":"2021-12-14T20:10:48","modified_gmt":"2021-12-14T20:10:48","slug":"why-the-ethereum-foundation-launched-a-client-incentive-program","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/why-the-ethereum-foundation-launched-a-client-incentive-program\/","title":{"rendered":"Why The Ethereum Foundation Launched A Client Incentive Program"},"content":{"rendered":"<p>The non-profit organization that backs Ethereum has <a href=\"https:\/\/blog.ethereum.org\/2021\/12\/13\/client-incentive-program\/\" target=\"_blank\" rel=\"noopener nofollow\">announced<\/a> a new initiative to the benefit of the infrastructure supporting this blockchain. Launched to contribute to the network\u2019s health and decentralization, according to an official post, the Client Incentive Program will promote diversification in the Ethereum ecosystem.<\/p>\n<p style=\"text-align: center\"><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ta-ethereum-breaks-key-support-why-bulls-could-still-step-in\/\" target=\"_blank\" rel=\"noopener \">TA: Ethereum Breaks Key Support, Why Bulls Could Still Step In<\/a><br \/>\n<\/strong><\/p>\n<p>In that way, the foundation believes Ethereum will become a stronger network capable of dealing with future attacks and issues. In addition, a more diverse network will have more participants deciding over the future development of the underlying blockchain.<\/p>\n<p>The Foundation believes clients are a key part of the Ethereum ecosystem and that he had obstacles to receiving financial support. The organization claimed the following:<\/p>\n<blockquote><p>(\u2026) more avenues have become available for these teams to build sustainable businesses, but most of those focus on mainnet-adjacent opportunities rather than the main Ethereum network. Additionally, these opportunities generally do not scale proportionally to the amount of value created<\/p><\/blockquote>\n<p>Thus, the Ethereum Foundation will offer the teams behind the clients \u201cdenominated rewards which unlock over time\u201d. These rewards will be based on the constant development of the clients, their software performance, and security requirements.<\/p>\n<p>In total, the Ethereum Foundation will destine around 4,608 ETH for or 144 validators for each client to operate. The Foundation added:<\/p>\n<blockquote><p>The size of these grants recognizes both the excellent work performed over the past few years and the many development challenges expected well into the future.<\/p><\/blockquote>\n<p>The teams eligible for the program are Go-Ethereum (Geth), Lighthouse, Nethermind, Nimbus, Prysm, Teku, Besu, Erigon, and Lodestar. The latter will receive a 50% stake, according to the Foundation, with all funds\u2019 ownership to be vested across several years.<\/p>\n<h2>Contributing With The Ethereum Ecosystem Sustainability<\/h2>\n<p>The Client Incentive Program will begin to post the Merge, the event that will combine the Ethereum blockchain with the Beacon Chain, the network supporting Eth 2.0. The teams will be able to operate the funds, but the financial support is aimed at the long term, as the Foundation clarified:<\/p>\n<blockquote><p>In order to receive this and subsequent tranches of validator withdrawal credentials, teams must continue to maintain their clients, meet performance benchmarks on mainnet, and generally contribute toward delivering the Ethereum community\u2019s roadmap, as it evolves over time.<\/p><\/blockquote>\n<p>This program will enable clients to earn rewards via staking or withdrawal, provided they complete the vesting period. However, it will not eliminate EF grants.<\/p>\n<p>P\u00e9ter Szil\u00e1gyi, team leader at the Ethereum Foundation, celebrated the initiative and was glad to see Geth included in the list of clients that will receive the funds. This decision was made despite Geth being part of the foundation itself. Szil\u00e1gyi added:<\/p>\n<blockquote><p>We&#8217;re still figuring out how to utilize the grant but will probably put it towards long term contributor incentives.<\/p><\/blockquote>\n<p style=\"text-align: center\"><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-plunges-to-4k\/\" target=\"_blank\" rel=\"noopener \">TA: Ethereum Plunges to $4K: Can Bulls Save the Day?<\/a><\/strong><\/p>\n<p>As of press time, ETH trades at $3,774 with a 1.6% profit in the daily chart.<\/p>\n<figure id=\"attachment_478888\" aria-describedby=\"caption-attachment-478888\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-478888 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/12\/Ethereum-ETH-ETHUSDT.png?resize=860%2C386\" alt=\"Ethereum ETH ETHUSDT\" width=\"860\" height=\"386\"><figcaption id=\"caption-attachment-478888\" class=\"wp-caption-text\">ETH trends to the downside in the 4-hour chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/ZVir7J9T\/?symbol=BITSTAMP%3AETHUSD\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The non-profit organization that backs Ethereum has announced a new initiative to the benefit of the infrastructure supporting this blockchain. Launched to contribute to the network\u2019s health and decentralization, according to an official post, the Client Incentive Program will promote diversification in the Ethereum ecosystem. Related Reading | TA: Ethereum Breaks Key Support, Why Bulls Could Still Step In In that way, the foundation believes Ethereum will become a stronger network capable of dealing with future attacks and issues. In addition, a more diverse network will have more participants deciding over the future development of the underlying blockchain. The Foundation believes clients are a key part of the Ethereum ecosystem and that he had obstacles to receiving financial support. The organization claimed the following: (\u2026) more avenues have become available for these teams to build sustainable businesses, but most of those focus on mainnet-adjacent opportunities rather than the main Ethereum network. Additionally, these opportunities generally do not scale proportionally to the amount of value created Thus, the Ethereum Foundation will offer the teams behind the clients \u201cdenominated rewards which unlock over time\u201d. These rewards will be based on the constant development of the clients, their software performance, and security requirements. In total, the Ethereum Foundation will destine around 4,608 ETH for or 144 validators for each client to operate. The Foundation added: The size of these grants recognizes both the excellent work performed over the past few years and the many development challenges expected well into the future. The teams eligible for the program are Go-Ethereum (Geth), Lighthouse, Nethermind, Nimbus, Prysm, Teku, Besu, Erigon, and Lodestar. The latter will receive a 50% stake, according to the Foundation, with all funds\u2019 ownership to be vested across several years. Contributing With The Ethereum Ecosystem Sustainability The Client Incentive Program will begin to post the Merge, the event that will combine the Ethereum blockchain with the Beacon Chain, the network supporting Eth 2.0. The teams will be able to operate the funds, but the financial support is aimed at the long term, as the Foundation clarified: In order to receive this and subsequent tranches of validator withdrawal credentials, teams must continue to maintain their clients, meet performance benchmarks on mainnet, and generally contribute toward delivering the Ethereum community\u2019s roadmap, as it evolves over time. This program will enable clients to earn rewards via staking or withdrawal, provided they complete the vesting period. However, it will not eliminate EF grants. P\u00e9ter Szil\u00e1gyi, team leader at the Ethereum Foundation, celebrated the initiative and was glad to see Geth included in the list of clients that will receive the funds. This decision was made despite Geth being part of the foundation itself. Szil\u00e1gyi added: We&#8217;re still figuring out how to utilize the grant but will probably put it towards long term contributor incentives. Related Reading | TA: Ethereum Plunges to $4K: Can Bulls Save the Day? As of press time, ETH trades at $3,774 with a 1.6% profit in the daily chart.<\/p>\n","protected":false},"author":535,"featured_media":477137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[],"class_list":["post-478879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum"],"acf":[],"yoast_head":"\n<title>Why The Ethereum Foundation Launched A Client Incentive Program<\/title>\n<meta name=\"description\" content=\"The non-profit organization that backs Ethereum has announced a new initiative to the benefit of the infrastructure supporting it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/uniquehot.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Why The Ethereum Foundation Launched A Client Incentive Program","description":"The non-profit organization that backs Ethereum has announced a new initiative to the benefit of the infrastructure supporting it.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/ethereum\/why-the-ethereum-foundation-launched-a-client-incentive-program\/","og_locale":"en_US","og_type":"article","og_title":"Why The Ethereum Foundation Launched A Client Incentive 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Marquez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/036a3927a22f63e491c08a08c3641ece?s=96&d=mm&r=g","caption":"Reynaldo Marquez"},"description":"A literature major, Reynaldo M\u00e1rquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why The Ethereum Foundation Launched A Client Incentive Program","url":"http:\/\/uniquehot.com\/news\/ethereum\/why-the-ethereum-foundation-launched-a-client-incentive-program\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/why-the-ethereum-foundation-launched-a-client-incentive-program\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/11\/Ethereum.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/11\/Ethereum.jpeg?fit=900%2C500"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":[],"dateCreated":"2021-12-14T20:10:48Z","datePublished":"2021-12-14T20:10:48Z","dateModified":"2021-12-14T20:10:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why The Ethereum Foundation Launched A Client Incentive Program\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/why-the-ethereum-foundation-launched-a-client-incentive-program\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/why-the-ethereum-foundation-launched-a-client-incentive-program\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/Ethereum.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/Ethereum.jpeg?fit=900%2C500\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[],\"dateCreated\":\"2021-12-14T20:10:48Z\",\"datePublished\":\"2021-12-14T20:10:48Z\",\"dateModified\":\"2021-12-14T20:10:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/11\/Ethereum.jpeg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/478879"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=478879"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/478879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/477137"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=478879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=478879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=478879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}