Vitalik Buterin, Ethereum Co-founder, Donates 1,000 ETH To Three Startups

by | Dec 20, 2018 | Blockchain, Cryptocurrency News

Vitalik Buterin | Ethereum Co-founder | Donates | Startups | Ethereum blockchain

Ethereum News: Vitalik Buterin, the co-founder of the world’s third-largest cryptocurrency, Ethereum (ETH) has reportedly given around 1000 ETH, worth $300,000 to three startups working in the Ethereum ecosystem, namely Prysmatic Labs, ChainSafe Systems and Sigma Prime.

The key focus behind the aid provided is to evolve a properly working Ethereum 2.0. For instance, Sigma Prime is building an Ethereum 2.0 client, Lighthouse, Prysmatic Labs will focus on the scalability of Ethereum network and the ChainSafe Systems will be creating an Ethereum 2.0 client as well.

The concept of such donation could be attributed to the discussion that spiked on Twitter, where core developers cited the lack of funding over the network, eventually slowing down the development pace. Preston Van Loon one of the co-founders of Prysmatic Labs, stated that currently the grants are “hardly enough to take the whole team full time with significant pay cuts and it’s certainly not even for us to scale the team to where we need it.”

Responding to thus discussion, Vitalik tweeted:

Just sent 1000 eth. Yolo [you only live once].”

While a good gesture, it has also led to another long continued discussions within some market participants that the network lacks a proper leadership. The CEO of SpankChain Ameen Solaimani reckoned:

“Ethereum has taken its lead for granted for too long (2 years). Needs increased focus and urgency on scalability to reclaim its narrative. Move fast or die slow.

Notably, all the three startups were given grants before, though it seems they were not enough.

Read more: Traditional Investors Are Shifting to Over-The-Counter Bitcoin Markets, Suggests Research


Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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