Connext is free, open source, p2p micropayment infrastructure, built using payment channels on the Ethereum blockchain. Payment channels are a Layer 2 scaling technology that enable offchain payments between two parties, using the chain itself as a transaction settlement layer.
This paradigm offers a solution for UX issues caused by latency and/or cost. Additionally, it enables up new payment patterns such as micropayments that were previously inefficient or costly at scale.
This fund will be allocated to hire new developers to speed up the implementation process.
Read more about payment channels and Connext: https://github.com/ConnextProject/docs/wiki