Hello, community! We’re happy to share with you that we have been selected as one of the recipients of the Ethereum Foundation Grant! Our team was chosen in the category Scaling for the May 2018 batch. This really means a lot to us! Let us explain in detail why:
Why do we exist? What is our mission?
The mission of PARSEC labs is to bring fairness and transparency to the gaming and entertainment industry. We enable on-chain scalability for game execution to open up and unite virtual worlds.
What did we receive the grant for?
The grant was given to do research on enabling general computation on Plasma. We are proposing a specification which will allow developers to take smart contracts that are too expensive to operate on the Ethereum main chain and move them to a Plasma chain without much adaptation. We see this as an opportunity to create venues that enable gaming and other use-cases with high transaction volume, but medium to low transaction value. You can find more details in our whitepaper draft.
What is the vision of the Ethereum Foundation?
The foundation is focused on growing the real economy built on the Ethereum platform and reduce existing and future speculations. The foundation believes in projects and ideas which will increase the usage of uncensorable apps, programmable money, payments and digital collectibles.
How does the grant align with all mentioned above?
The grant will help us to focus on research without any distractions. Our first deliverable will be an implementation of the Truebit verification game allowing to verify state transitions of sidechains. We think this will give the Ethereum developer community a new tool to create more powerful plasma chains and hence scale the real economy of the ecosystem. In doing so, we find our mission and goals closely aligned with this vision of the Ethereum Foundation.
Thank you for your trust and let's BUIDL together!