What if the most vital digital tools funded themselves? Ethereum is testing radical models using blockchain and AI to automatically reward creators, no grant applications needed.
Ethereum powers more than cryptocurrency. It runs a global network of self-executing apps called dApps. These handle everything from loans to art ownership without middlemen. But this ecosystem relies on free, open-source code. The people building these critical tools often struggle for support. Now Ethereum insiders are blending blockchain and machine learning to fix funding. We spoke with Ethereum Foundation’s Devansh Mehta about turning invisible value into real resources.
Smart Contracts as Vending Machines
Ethereum’s genius is its smart contracts. Think digital vending machines: insert crypto, get an outcome. No gatekeepers. This lets developers build dApps for finance, gaming, and logistics that run autonomously. Every action costs “gas fees” paid in ETH. Demand for these services directly influences Ethereum price usd on major platforms.
The network thrives on open-source code, meaning publicly available building blocks anyone can use or improve. But much of this essential work goes unpaid. That’s for building on the network. If you’re interested in investing in Ethereum instead, always make sure to use a reputable broker.
Killing the Grant Application
Devansh Mehta wants to fund builders who hate self-promotion. “Early on, blockchain excited me as a public database,” he shares. “Smart contracts remove intermediaries. Put something in, get something out.” But his nonprofit background exposed a flaw: “Groups would market one impact story to multiple funders. Real innovators creating new value got ignored.”
Blockchain’s transparency offered a fix. “Record impact publicly. Once funded, you must create new value to earn again. No reselling past work.”
From Burnout to Breakthroughs
Mehta’s journey started with quadratic funding (QF). “I wrote grants constantly. The ‘all-or-nothing’ grind burns you out,” he admits. QF let projects rally community support. Small donations unlocked matching funds. He later wrote proposals for Arbitrum’s billion-dollar DAO, diving into decentralized governance.
He noticed systemic gaps:
- Builders creating more value than they capture
- Critical opportunities hidden from those who could best use them
- Decision-makers prioritizing personal gain over community needs
Mehta started tweeting daily to surface ideas. One post on using AI to measure unseen value caught Vitalik Buterin’s eye. Buterin proposed a model: multiple AIs predict a project’s worth, jurors validate a sample, and the best AI scores the rest. Mehta now runs this system at the Ethereum Foundation.
The Dependency Graph Fix
Open source epitomizes “public goods” which are valuable but underfunded. “Value creation minus value capture. That gap needs filling,” states Mehta. But calling everything a “public good” caused fatigue. The solution? Dependency graphs.
“Forget asking ‘How valuable is this?’ Ask: ‘Who depends on this work?’” Mehta explains. “If twenty projects need your code, that’s measurable value.” This approach exposes hidden infrastructure. An app needs core tools like a shop needs roads. Without funding these layers, everything collapses.
Deep Funding: Money Finds Work
Mehta’s “deep funding” project automates support. Corporations fund non-revenue teams (like safety) from profits. But open source lacks this. Deep funding maps project dependencies using tools like Open Source Observer. When an app earns revenue, smart contracts automatically split funds across its dependency graph.
Setting fair weights is tricky. That’s where AI contests help. Models compete to predict a repo’s importance. Jurors score a subset. The winning AI weights the entire graph. Money flows to quiet infrastructure builders without applications.
This modular approach uses existing tools:
- Pairwise for jury voting
- Drips for distribution
- Allo Protocol for rapid experimentation
It’s web3’s latest funding evolution after Quadratic Funding (2019) and RetroPGF (2021).
Surprises in the Code
Data reveals what reputation obscures. Take web3.js, once Ethereum’s essential toolkit. “Everyone assumed it remained critical,” says Mehta. “The dependency graph showed barely any usage. Newer tools like Viem took over.” Real-time maps ensure funds support active tools, not legacy projects.
When coding, you really have to pay attention to making sure all of the features you’re implementing are legal. As a user downloading anything, like the Pikashow APK for example, stay safe by using a VPN and virus protection.
Fixing Web3’s Funding Flaws
Most web3 funding remains centralized. “Foundations pick winners,” Mehta notes. “That favors good marketers, not great builders.” Quadratic funding empowers communities but still requires self-promotion. “We call it the ‘crying babies get fed’ problem.”
RetroPGF (rewarding past impact) shows promise. Optimism scaled it to 500 badgeholders. But Mehta dreams bigger: RetroPGF without applications. “If your code gets used, funding finds you. No forms. No deadlines. Value created equals value captured.”
Challenges remain. Metrics can be gamed (Goodhart’s Law). Feedback loops must accelerate with funding next month for work done this month.
Ethereum’s Open Core
Ethereum is open source:
Every line of code is public and auditable
- Upgrades proposed via Ethereum Improvement Proposals (EIPs)
- Independent teams build clients like Geth and Prysm
- Permissionless innovation (anyone can deploy dApps)
This spawned DeFi, NFTs, and tools like OpenZeppelin. But distribution struggles persist.
The APK Wild West
Mobile access drives adoption. Android apps (APKs) like MetaMask bring Ethereum to phones. But without official hubs, third parties fill voids. Search Spotify APK and countless sites offer “working” downloads and MOD versions. Fragmentation risks security, and that’s a pain point for open ecosystems.
The goal is clear: Let builders build. Ethereum’s blend of transparency, smart contracts, and AI could finally fund the invisible engines powering our digital world. Quiet work might start speaking for itself.
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