Cryptocurrency exchange Kraken has donated $250,000 to efforts around the upgrading of the Ethereum blockchain.
- The donation will support developer teams working on technical upgrades to achieve "Ethereum 2.0," Kraken announced Tuesday.
- Funds will be directed toward technologies that support Ethereum's software, such as Besu, Geth and Nimbus.
- The developments, most recently Ethereum's "London" hard fork that went live on Aug. 5, will see the network transition to a proof-of-stake model.
- Kraken says it was the first major exchange list ethereum for trading and that its clients have staked more than 800,000 ETH to secure the Beacon Chain, the forthcoming proof-of-stake version of the blockchain.