Let us first know about what Ethereum actually is, it is an open-source computing platform, with the help of which smart contracts are taking place, this system is totally based on blockchain. Right now the price of 1 Ether is $184.52.
Ether is the main unit of trade in which the trade is done and Ethereum is the platform on which the trade takes place.
Investors for Ethereum Project MolochDAO
A big announcement was made for Ethereum funding initiative from the CEO of Spank Chain. Two of the most heard names in blockchain are providing huge funds for this funding round.
Joseph Lubin is a Canadian entrepreneur, he has founded many companies, not only that, he co-founded many companies too. He is the founder of a Brooklyn-based software production studio. He funded 1000 ETH to this initiative.
He is a Russian-Canadian programmer and writer. Vitalik is known as a co-founder of Ethereum and a co-founder of Bitcoin Magazine. You will be shocked to know that Buterin is just 25 years old. He has funded 1000 ETH to this initiative.
Not only these two funded donations for this funding initiative, but 2000 ETH are also donated from a group of individuals at ConsesSys and the Ethereum foundation.
This funding was received by MolochDAO, launched in March as a crowdsourced funding initiative for the support of Ethereum infrastructure projects.
This funding initiative was started with 22 members, with the help of all these, this funding initiative was founded. All the 22 members deposited 100 ETH as donations, which made $17,000 now.
The full form of MolochDAO is Moloch decentralized autonomous organization. The organization was created by, Soleimani who is the CEO of the Ethereum based token platform.
Soleimani said in an interview,
“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.”
These donations are going to become a major boost for this funding initiative, introduced for supporting infrastructure projects.