There are a lot of interesting projects that are arising on the horizon for Blockchain-based technology. Major companies in the domain are pushing forward with their projects and flagship products as the crypto world is slowly gaining momentum. There are possible ways that not all products will release in the Blockchain market, but the companies are willing to take the bet.
There is something trending in the network
Now with most of the companies in the Blockchain space moving towards developing the products to the devices that are available to the users. This involves the development of Dapps and mobile applications that will help in regularizing the Blockchain space.
In the lot, Ethereum has been expressing a lot of interest in developing applications and products that will probably be available on the mobile platform. To aid further development, the Ethereum foundation has allocated a hefty sum of nearly $650,000 for its flagship product, Nimbus.
Nimbus is believed to lay the founding stone for the development of more improved Blockchain management from the roots of the Ethereum network. The overhaul project nicknamed Ethereum 2.0 would be the next big thing in the development track of the Ethereum foundation.
The total payout
The total amount that is invested upon the development of the Nimbus to date is around nearly $1.65 million which lies in the ranges of the big leagues. With such a huge pocket to spend, the expectations from the Ethereum foundation is sky-high.
The Nimbus project is mainly to test the different ways in which the Ethereum network can work effectively over the coming days and with added improvement over the days, it will get immensely exhausting for the company to complete tasks.
There are some certain features that are based in the Nimbus protocol and one of the most major points of the list is the adaptability check of the Ehtereum 2.0 client project. There are also other agendas that the nimbus is expected to complete. The Nimbus is also mainly dominantly present to increase the scalability of the Ethereum network.
The current network utilization of the Ethereum network is nearly around 90%. This may drastically slow down the operation of the Ethereum network if the utilization rate is bound to exceed a further value.
Ethereum said in a public release that there is a very good performance output in the testing session of the Nimbus and if it were to roll out very soon, it will definitely take Ethereum to a different level from what it is now.