Parity Technologies recently received a $5 Million grant from the Ethereum Foundation for its years of contribution to the Ethereum Ecosystem and continuing development of the core infrastructure for Ethereum 2.0. The Ethereum Foundation is committed to funding teams and individuals building the common infrastructure around scalability, usability and security.

According to the grant, it is awarded for scalability, usability and security grant. Their most important product is an ethereum client called Parity Ethereum which is fast, robust and modular Ethereum Client. Their client is used by various people, including, but not limited to exchanges, miners, DApp Devs & Service Providers.

Other than that, they have created multiple tools and blockchains such as Parity Fether, Parity Signer, Parity Bridge, Light.js, p-Wasm and many more.

Quoting Ethereum Foundation:

By all metrics, Parity is a major technical contributor to the Ethereum project, and they’ve notably done so as a self-financed and open-sourced effort since their founding.

According to the source, this grant will fund Parity’s work on Casper, sharding, light clients, developer tools, QA, audits and infrastructure improvements. Funding will be delivered in several tranches, the first of which supports development that Parity has already completed. Others are contingent upon reaching explicit milestones which include:

  • The completion of eWasm compatibility work

  • Shipping a light wallet for mainnet.

  • The successful completion of Phase 0 and Phase 1 of sharding.

Do you use Parity’s Ethereum Client? Which client/wallet is your favourite of the ones you have used so far? Why? Share your thoughts in the comment section!