Ethereum Ecosystem and its amazing space sharers in the industry

In the Ethereum Ecosystem, the Ethereum Foundation is a non-profit organization registered as ‘Stiftung Ethereum’ in Switzerland whose mission is to: Promote and support the Ethereum platform and base layer research, development and education to bring decentralized protocols and tools to the world that empower developers to produce next-generation decentralized applications (dapps), and together build a more globally accessible, more free and more trustworthy Internet.

The Foundation’s job is to manage the funds raised in the Ether pre-sale in any way that furthers Ethereum. Mainly it pays the core development team a salary, but it also offers grants to developers to tackle specific problems. For instance, in March 2018, grants were awarded to fund projects that provided scaling and security solutions to Ethereum.

Ethereum Ecosystem
Image Source Google

Vitalik Buterin, known as the creator of Ethereum, sits on the council of the foundation, and the foundation has a great deal of influence on the roadmap of Ethereum. In theory, Ethereum participants (miners, bookkeepers) don’t have to implement any software changes made by the Foundation, but in practice they do.

Ethereum Ecosystem – Ethereum Enterprise Alliance

In the Ethereum Ecosystem, the Ethereum Enterprise Alliance is a non-profit industry group launched in March 2017 whose goal seems to be to make Ethereum suitable for enterprise use. From their materials, it is hard to understand whether this means businesses using the public Ethereum blockchain, or if it means adapting the Ethereum code to make it suitable for industry use cases.

The Enterprise Ethereum Alliance in Ethereum Ecosystem connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts. Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production—Ethereum—to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.

Ethereum Ecosystem – Vision of EEA

From the website the vision of the EEA is to:

  • Be an open-source standard, not a product
  • Address enterprise deployment requirements
  • Evolve in tandem with advances in public Ethereum
  • Leverage existing standards

Ethereum Ecosystem – Mission of EEA

The mission of the Alliance states:

  • EEA is a 501 (c) (6) non-profit corporation.
  • A clear roadmap for enterprise features and requirements.
  • Robust governance model and accountability, clarity around IP and licensing models for open source technology.
  • Resources for businesses to learn about Ethereum and leverage this groundbreaking technology to address specific industry use cases.

In the next article of the series, we take a look into Cryptocurrency Forks and their related codebases and delve a little deeper into the concepts.


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