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Vitalik Buterin, the co-founder of Ethereum, donated $ 300,000 in Ethereum (ETH) to 3 startup blockchain in a spur-of-the-moment decision triggered by a Twitter thread.
The 3 lucky projects are Prysmatic Labs, ChainSafe Systems and Sigma Prime. Each of them is constructing scaling solutions for the Ethereum blockchain that go in line with the next iteration of the network, Ethereum 2.0.
To help these projects achieve their goals, Buterin sent each of them 1,000 ETHs, which is equivalent to about $ 100,000. The decision to donate to these promising projects came from a thread on Twitter in which prominent members of the Ethereum community discussed the development of Ethereum.
Preston Van Loon, co-founder of Prysmatic Labs and an IT engineer at Google, was the first to receive Buterin's generous donation. The Twitter thread that kicked off Buterin's donation madness is below.
I just sent 1000 eth. Yolo.https: //t.co/s1q8K5Wlhs
– Vitalik non-donor of ether (@VitalikButerin) December 19, 2018
Vitalik Buterin: "Non-giver of ether" ….
Ironically, the handle of Buterin on Twitter is "Non-Giver of Ether", which he implemented to help prevent Ethereum scammers who pretended to shirk his followers to send them ETH with a promise to receive more in return.
With the recent donations from Buterin, people on crypto twitter joked that it should now change its Twitter handle with "Giver of Ether." But apart from the jokes, the 3 startups that receive his donation could play an important role in the growth of Ethereum.
Prysmatic Labs
The first grant was received by Prysmatic Labs after Van Loon reached Buterin as seen in the Twitter thread above. Prysmatic Labs is an open source team of blockchain engineers committed to downsizing Ethereum.
The team is working to implement the Ethereum blockchain sharding because they believe the protocol desperately needs it as soon as possible. Anyone can contribute to the development of Prysmatic Labs by contributing to them GitHub page.
Sigma Prime
Buterin awarded the second grant to Sigma Prime, who received the grant when Paul Hauner, the co-founder of the projects, tweeted:
Hey, we're building #lighthouse and they were rejected for a couple of concessions recently. We can definitely turn 1k ETH into more developers! 0x25c4a76E7d118705e7Ea2e9b7d8C59930d8aCD3b
– Paul Hauner (@paulhauner) December 19, 2018
Sigma Prime is a company specializing in blockchain technology and information security. They are building an Ethereum 2.0 client called Lighthouse. The project includes a revolutionary technology that includes consensus on stake testing, parallel execution of transactions and state separation.
ChainSafe Systems
As for the third grant, it went to ChainSafe Systems, based in Canada, after Mikerah Quintyne-Collins, the project leader, tweeted:
I will literally go out if we have $ 100k in ETH.
– Mikerah (@badcryptobitch) December 19, 2018
ChainSafe Systems is a blockchain research and development company that creates intuitive, user-centric blockchain solutions. They are building an Ethereum 2.0 client, similar to what Sigma Prime is doing.
Conclusion
It will be interesting to see how these projects will progress in the coming months as the grants received should help investors finance and other project areas.
Both Prysmatic Labs and Sigma Prime are on everyone's radar with expectations to do well and have something to show for themselves because they have both recently received grants from the Ethereum Foundation.
Prysmatic Labs received a $ 500,000 grant in October and a $ 100,000 grant in March, and Sigma Prime received a $ 150,000 grant in October.
These two projects have a little more pressure to do well and deliver on Ethereum 2.0 resizing solutions as promised. However, these developments require time and attention as network security remains a top priority.
Do you think these projects will soon offer solutions for the sizing of Ethereum 2.0? Should they receive even more grants from the Buterin or the Ethereum foundation? Let us know what you think in the comments section below.
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