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- Vitalik Buterin sends $ 300,000 to three startups within the Ethereum network.
- The developers of Ethereum are working on Ethereum 2.0; The updating of Constantinople is scheduled for January 2019.
The co-founder of the world's third largest cryptocurrency, Ethereum, said he had given $ 300,000 to three startups in the blockchain arena. According to a report by CoinDesk, a source of news, Prysmatic Labs, ChainSafe Systems and Sigma Prime are the startups that have benefited from the donation of 1,000 ETH.
All the above-mentioned startups are working within the Ethereum ecosystem. The main purpose is to create a properly functioning Ethereum 2.0. For example, Sigma Prime is creating Lighthouse, an Ethereum 2.0 client, Prysmatic is focusing on the scalability of the Ethereum network while Chainsafe is also creating an Ethereum 2.0 client.
The donation comes as a result of a discussion on Twitter where the main developers of the network have cited the lack of funds; a situation that is slowing down the pace of development. One of Prysmatic Labs' co-founders, Preston Van Loon, said the subsidies are currently "just enough to bring the whole team full-time with significant wage reductions and it's certainly not for us to scale the team where we need it. "
In response to the discussion, Vitalik tweeted:
"I just sent 1000 eth. Yolo [you only live once]".
These developments triggered discussions with some market participants, noting that Ethereum does not have adequate leadership. SpankChain CEO Ameen Solaimani said:
"Ethereum has been driving for too long (2 years)." He needs more attention and urgency on scalability to reclaim his narrative. "Move fast or die slowly."
All three startups received grants first. Although it is clear that the subsidies have not been sufficient. For example, CoinDesk notes that Prysmatic Labs received $ 500,000 as a grant in October, and had received $ 100,000 at the start of the year.
Ethereum is trading at $ 106 after a 3.6% increase in the day. According to the table of rates provided by FXStreet, the trend is still bullish.
Read more:
The price of Ethereum reclaims $ 100 support: Investors look forward to more
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