‘Tis the season: Vitalik Buterin gives $300,000 worth of ETH to startups

Vitalik Buterin, the co-founder of Ethereum, has recently donated $300,000 worth of ETH to three crypto startups

This happened following a Twitter thread where members of the Ethereum community were discussing ways in which Ethereum could be improved.

Preston Van Loon, an Ethereum protocol developer and co-founder of Prysmatic Labs, joined in on the thread and managed to impress Buterin with his ideas. Van Loon explained how Prysmatic Labs are underfunded, to which Buterin responded claiming to have sent Prysmatic Labs 1,000 ETH (Ethereum’s native token).

With an ever increasing amount of transactions being recorded on the Ethereum blockchain, the aim of Prysmatic Labs is to create a way for the blockchain to be scaled to “allow the system to process transactions at over 10x – 100x of its current speed.”

Another Twitter user to contact Buterin, Paul Hauner, is an Ethereum 2.0 developer at Sigma Prime. Currently, Sigma Prime are working on the Lighthouse project. The Lighthouse project is an open source Ethereum Serenity client and will not re-implement the existing proof-of-work protocol. The purpose of the Lighthouse project is to advance research toward a secure, efficient, and decentralised platform for Ethereum. A Serenity client is a new type of blockchain and is the product of four years of research by Ethereum developers.

The other company that received a donation from Buterin was Toronto-based ChainSafe. The Canadian company are currently building an Ethereum 2.0 client written in JavaScript. They also offer consultation services to a number of different Ethereum-based projects. Mikerah Quintyne-Collins is a project lead and was the one who reached out.

Buterin also posted a link to etherscan.io, an Ethereum blockchain, where you will see the transactions of 1,000 Ether, in order to prove his donations were legitimate. ‘Tis the season of giving after all.

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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