Aya Miyaguchi, Ethereum Foundation’s execuive revealed at the ConsenSys’ Ethereal Summit that they are going to be spending $30 Million on various projects in the Ethereum ecosystem. The $30 Million allocated will be allocated over the period of next 12 months.

Ethereal Summit has earned an eminent reputation for providing a hotbed for development in the Ethereum ecosystem, adding substantive discourse to thought leadership in blockchain, and has become a vital node in the global network of annual industry-moving tech gatherings in the process. The event focuses on issues of inclusivity, philosophy, and the sociopolitical impact of blockchain as much as technology or finance, and that is reflected in the vibrant atmosphere and diverse audience.

The summit is an ideal gateway into the ConsenSys ecosystem. It’s a chance to get hands on with the latest developments, ask questions directly to those with the answers, and get to know the community behind the tech.

The funds will be used for improvement of Ethereum’s performance and security. They plan to do it through the betterment of current proof-of-work algorithm, support and development of the ecosystem, orgainizing hackathons to improve awareness and drawing potential talents.

Ameen Soleimani’s MolochDAO announced a donation of 1,000 ETH each from Joseph Lubin and Vitalik Buterin, plus 2,000 ETH more from a group of individuals at ConsenSys and the Ethereum Foundation.

“Moloch is a very innovative structure and I expect it to take off and be a significant factor in helping drive development throughout the ethereum ecosystem,”says Lubin.

The intention is to provide funding for the upcoming Ethereum 2.0 release and network update. Although there are many things to do yet for it to be ready, the community is already prepared for it and it is working into this direction.

Ethereum’s price is $1,969.71 ETH/USD exchange rate today. The real-time ETH market cap of $229.24 Billion currently ranks #2 with , daily trading volume of $24.74 Billion and live coin value change of ETH -7.55 in the last 24 hours.