Sunday, June 16, 2019

Ethereum’s CEO Donates Over $100k Worth of ETH to Blockchain Startups

Vitalik Buterin, CEO and co-founder of Ethereum Blockchain, has donated about $100,000 worth of ETH tokens to three startups. They are ChainSafe Systems, Prysmatic Labs, and Sigma Prime who are all working on Ethereum 2.0 projects. The CEO made his donation public when he responded to a tweet to say he has sent 1000 ETH tokens.

Recipient Focuses on Developing Projects for Ethereum Blockchain

The recipients of the donation all have something in common, and that is in the area of research and development of applications based on Ethereum 2.0. Sigma Prime seeks to develop Lighthouse, a client that works with this networking standard. The same can be said about Prysmatic Labs and Chainsafe system who have formed teams to develop clients based on this platform.

A closer look at the event which led to Buterin’s donation shows that it began when Ryan Sean Adam, CEO of a crypto investment company made a tweet. His tweet was about a video which says Ethereum lacks proper leadership and there has been no progressive delivery of solutions. The tweet got responses from Ameen Soleimani and Vitalik.

Inquiries Were Made on The Problems Faced by Developers

Soleimani took the opportunity to make inquiries on the progress of projects based on Ethereum 2.0. Specifically, he wanted to know the problems and limitations it faces. And what better answer, than one from the teams handling these projects. A member of Prysmatic Labs responded that funds played a major role in determining how fast projects are delivered.

According to him, some of the team members are engaged in other jobs which demanded that they work full time. These people could not be employed to work on projects full time due to the lack of funds to pay them meaningful cuts. Therefore, only a few could work full time and be fully committed to the development of such projects.

Ethereum’s CEO Donates 1000 ETH to Developers

An hour later, Vitalik responded that he has just sent 1000 Ethereum tokens to one of the teams’ digital wallet. This was after a member working on the lighthouse project requested for 1000 ETH tokens to help in hiring developers. According to him, they were short of funds.

While Buterin calls himself a non-giver of ether, this donation may go contrary to his self-acclaimed title. Nevertheless, it has been applauded by Crypto enthusiasts some of whom had different opinions about the donation. A user, for instance, asked: “does anybody in crypto actually work or just ask for donations.”

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