An ethereum funding initiative from the CEO of SpankChain is getting a major boost from two of the blockchain's biggest names.
Ameen Soleimani's MolochDAO announced a donation of 1,000 ETH each from Joseph Lubin and Vitalik Buterin, plus 2,000 ETH more from a group of individuals at ConsenSys and the Ethereum Foundation.
"Moloch is a very innovative structure and I expect it to take off and be a significant factor in helping drive development throughout the ethereum ecosystem," Lubin, the founder of ConsenSys, told CoinDesk at the venture studio's Ethereal conference in Brooklyn on Friday.
Stepping back, MolochDAO launched publicly in March as a crowdsourced funding initiative to support ethereum infrastructure projects.
As stated in the MolochDAO white paper, the immediate goal of the initiative was to fund further development of the next major iteration of the ethereum blockchain, ethereum 2.0.
With the announcement of additional funding today at Ethereal, Soleimani told CoinDesk he would "Love to have more insight from wider groups of people with diverse and complementary viewpoints to help make sure all the blind spots are covered."
With the 4,000 ETH donation, both Lubin and Buterin, along with the 20 individuals from ConsenSys and the Ethereum Foundation who have submitted donations, will be voted in as members of the decentralized autonomous organization.
Members are able to submit funding proposals to the platform and have them approved with a simple majority vote from all members in the system.
"It's inspiring to see the leads of the ethereum community join together and help try out new coordination mechanisms to help move the ethereum ecosystem forward."
Today's donation will raise the valuation of MolochDAO's funding pool to over $1 million, Soleimani said.
Vitalik Buterin, Joe Lubin Back $700K Donation to Ethereum Project MolochDAO
gepubliceerd op May 10, 2019
by Coindesk | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.