As the Ethereum network prepares for the launch of Ethereum 2.0, its developers continue to create and invent technologies in preparation for the upgrade. The Ethereum Foundation recently launched an incentive program for customers.
Ethereum Foundation an Incentive Program for Customer
According to a blog post announcement on December 14, the Ethereum Foundation has launched what is known as a customer incentive program to encourage software development teams to continue to maintain the core network.
The customer team receives 144 validators each with a total of 4,608 ETH that runs on the mainnet. Teams can unlock rewards while continuing to develop software that meets performance and safety requirements. As the team looks after customers and meets the performance benchmarks on the mainnet, the fund will remain in possession for several years. The first part will be unlocked when Beacon Chain (Ethereum’s proof-of-stake solution) is delivered.
After the merger, the validators will receive transaction fees, so the program will serve as a source of income. The team is free to use the granted grants as they see fit, be it by betting on more rewards or by paying out and liquidating.
The Ethereum Foundation announced this opportunity in a blog post yesterday, designating the following teams as eligible: Besu, Erigon, Go-ethereum (geth), Lighthouse, Lodestar, Nethermind, Nimbus, Prysm and Teku.
“The structure of the program aligns teams with the long-term health of the network and ensures they are incentivized to build secure and performant software,” said the post. “It was designed to be backwards-looking and reward teams who have already delivered production-quality software.”
ETH Price Analysis
Ethereum (ETH), the world’s second most valuable coin, reclaimed 4% of its value. The smart contract blockchain platform’s token is at $3,850, 12% down over seven days, according to CoinMarketCap.
The cryptocurrency market rebounded in the last 24 hours. After losing more than 6% of its value in the previous 24-hour period, the more than 15,600 coins gained 3.8% for a total market cap of 2.19 trillion at the time of writing (8 am GMT).