Ethereum Open-Source Developers receives $250K from Kraken
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Cryptocurrency exchange platform, Kraken, has announced that it will be donating $250,000 towards Ethereum blockchain’s technical upgrade (Ethereum 2.0) efforts by open-source developers.
The company made this announcement on Tuesday, saying that it believes in collaborative efforts and support which can help strengthen Ethereum in the long run.
Beneficiaries of the funds are developers and clients like Nimbus, Erigon, Nethermind, Geth and Besu that are supporting the Ethereum network.
Kraken also stated that it made efforts to promote crypto-related trade on its global exchange by promoting education and development through its donation to the University of Wyoming, Btcpay Server, Gitcoin, and Brink.
According to statistics from Chain.info, Peckshield and Bituniverse, Kraken held $13.9 billion in crypto assets as at August 24, 2021, making it one of the top exchanges in the world by volume and the fourth largest exchange worldwide by crypto reserves held.
Expressing his belief that donations and support can help Ethereum eventually transition to a proof-of-stake platform, Jesse Powell, the CEO and Co-Founder at Kraken, said “We believe it’s our responsibility to give back to the open-source innovators who are building the next generation of cryptocurrency,”
He further explained, “that’s why we’re excited to work with the Ethereum Foundation to ensure developers receive funding from an increasingly diverse range of stakeholders.”
Believing in the impact of the support, Aya Miyaguchi, Executive Director, Ethereum Foundation, said in a statement “We strongly believe that collaborative efforts and support are the most sustainable way to benefit Ethereum in the long-term.
This joint effort to support teams and builders that maintain a diverse set of Ethereum clients is not only impactful but sets a great example.”
According to the founder of Kraken, the crypto exchange platform was created as a replacement for Mt Gox, a Tokyo-based cryptocurrency exchange that operated between 2010 and 2014.
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