Back to the list

Vitalik Buterin Gives Away $300,000 in Cryptocurrency to Ethereum Startups

unhashed.com 21 December 2018 12:51, UTC
Reading time: ~3 m

The creator of Ethereum, Vitalik Buterin, has given away $300,000 in crypto to three Ethereum startups via multiple Twitter threads.

Prysmatic Labs, ChainSafe Systems, and Sigma Prime are the three projects, each receiving 1,000 ETH. Every project is working to improve the Ethereum network and move it into 2.0. ChainSafe is creating an Ethereum 2.0 compatible client; Prysmatic Labs is working to improve scalability; and Sigma Prime is also working on a 2.0 client called Lighthouse.

Providing to the People

The thread Buterin commented consisted of developers talking about ways to improve the current Ethereum technology. Some developers claimed that a lack of funds was their biggest issue.

Preston Van Loon, a co-founder of Prysmatic Labs, tweeted:

Buterin then responded: “Just sent 1000 eth. Yolo [you only live once].”

Van Loon had responded to a thread discussing the current shortcomings of Ethereum. Started by Ryan Sean Adams, who shared a video keynote and summarized it:

CEO of SpankChain, Ameen Solaimani, responded, claiming that “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.”

Sigma Prime’s donation also came from a tweet. Co-founder Paul Hauner sent out that the group had “been knocked back for a couple of grants recently. We can certainly turn 1k ETH into more developers!” Buterin responded and provided another 1,000 ETH.

Finally, ChainSafe project lead Mikerah Quintyne-Collins tweeted “I will quite literally drop out if we got $100k in ETH.” Buterin responded with yet another 1,000 alongside an “I expect results!” tweet.

The founder of Ethereum also shared the transaction links, each of which was marked with his public Ether address.

Prysmatic Labs and Sigma Prime had received previous funding from the Ethereum Foundation. The former had been given $500,000 in October and $100,000 in March, with the latter receiving $150,000 in October.

Back to the list