3 Ethereum blockchain startups have received $300K from Vitalik Buterin

The founder of cryptocoin Ethereum, Vitalik Buterin, made a recent donation of $300,000 to 3 blockchain startups. His donation was made in his crypto coin and was probably done because of the thread in his Twitter account. Such projects as Prysmatic Labs, ChainSafe Systems and Sigma Prime have received a grant of 1,000 ETH. Every […]

By - December 28, 2018
Vitalik Ethereum

The founder of cryptocoin Ethereum, Vitalik Buterin, made a recent donation of $300,000 to 3 blockchain startups. His donation was made in his crypto coin and was probably done because of the thread in his Twitter account.

Such projects as Prysmatic Labs, ChainSafe Systems and Sigma Prime have received a grant of 1,000 ETH.

Every project from this list aims at building the next iteration of the network. Two projects including Sigma Prime and ChainSafe are developing a new Ethereum 2.0 client and one more project Prysmatic Labs improves ETH scalability.

This decision was made on the basis of the thread in Twitter where the future improvements of the technology were discussed. Leaders of Ethereum community expressed the idea that a lack of funding is the cause why these improvements are being developed for such a long time.

According to Preston Van Loon, one of the creators of Prysmatic Labs, the following grants are also not big enough to be able to hire a full-time team and even achieve the current goal.

Buterin’s reply was rather simple: he told that he had just sent 1,000 ETH.

It was the answer to the post of Ryan Sean Adams. He made a citation of Fred Wilson’s comment who told that ETH experiences missing of ship dates and a lack of the basic operational leadership.

One more post was added by CEO at SpankChain Ameen Solaimani who expressed the idea that it took ETH too much time to take the lead for granted and at the moment, the currency requires to get improved scalability for the reclaiming of its narrative.

Sigma Prime has received the 2nd grant may be thanks to the post of one of his founders Paul Hauner who could not receive two previous grants given by Buterin. However, this grant would allow hiring a bigger number of developers.

The 3rd grant was received by ChainSafe, a company located in Canada. A project leader Mikerah Quintyne-Collins encouraged Buterin to give them this donation by a tweet where he was planning to leave after he got $100,000 in cryptocurrency. Buterin answer was short enough: he expects these results.

Currently, Buterin is describing himself as “Non-giver of Ether” to give a funny answer to a variety of scammers following his social media page. Three links provided by Buterin serve as a confirmation for these grants to be sent.

Two companies that received these grants have been already donated by ETH Foundation. Prysmatic Labs has got two grants in spring and autumn with the total amount of $600K, while Sigma Prime’s grant was received this autumn and is equal $150K.

At the moment, Ethereum crypto coin is trading at $103 per coin.

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