Ethereum-based mobile operating system, Status has announced that it has joined the Ethereum Community Fund (ECF) as a founding member.
Status.im, which is considered a new kind of tool, for a new kind of Internet, gives users the ability to chat, transact, and access a revolutionary world of dApps on the decentralised web. Established earlier this year, the aim of the ECF is to provide both ‘funding and connectivity while shaping the strategic direction of the space towards mainstream adoption through the development of infrastructure and compelling end-user applications,’ according to its website.
According to the ECF, blockchain, crypto assets, and decentralised applications are expected to see substantial growth over the coming years. Yet, mainstream adoption remains at a low level while public infrastructure to support billions of users is still at R&D status.
For the ECF, the first step toward supporting the growth of the Ethereum ecosystem is through its Infrastructure Grant program. This will be established as a permanent financial endowment to support and aid projects in building important open source infrastructure, tooling, and applications. This is something Status believes in for the future of decentralisation.
The ECF has been conducting research with the aim of mapping out complimentary, platform-specific grant programs, including Status Projects, which are dedicated to the advancement of a larger Web3 decentralised ecosystem. Initiatives under the Status Projects include the Status Incubate, announced in April. It aims to provide early-stage blockchain-based startups with funding, talent, and expertise to reinvent the Web.
Others include the Status Open Bounty, a bounty platform created to promote open-source software, and Embark by Status, a framework supporting developers of all levels to create and deploy decentralised applications.
Jarrad Hope, Status co-founder, said: “The opportunity to join [the ECF] underscores what’s so unique about the Ethereum community. The projects involved know that it isn’t race to the top, but that together we will drive forward the larger vision of a more open and equitable world.”
Status has also announced that it is expanding its bug bounty program. Critical threats will be compensated up to $50,000 worth of ETH or SNT, according to an announcement. After turning to the Status community last year, with the introduction of its bug bounty program, to help uncover unknown vulnerabilities, the platform has seen its program grow to cover two new areas of interest: transaction signing and account management code.