Kraken, the cryptocurrency exchange founded in 2011, announced
on Tuesday that the firm is donating $250,000 toward Ethereum blockchain
upgrade efforts. The company said that it believes in “collaborative
efforts and support” can help bolster Ethereum in the long run.
Kraken: ‘Giving Back to the Open-Source Innovators’
On Tuesday, the cryptocurrency trading platform Kraken
revealed it is donating to “open-source developer teams now working to
accelerate Ethereum’s ongoing technical upgrades dubbed ‘Ethereum 2.0.’”
Following the demise of Mt Gox, Kraken co-founder Jesse Powell told Bloomberg News he created Kraken as a Mt Gox replacement.
Since then, Kraken is one of the top exchanges in the world in terms
of volume and the fourth largest exchange worldwide in terms of crypto
reserves held. On August 24, 2021, Kraken holds $13.9 billion in crypto
assets according to Bituniverse, Chain.info, and Peckshield statistics.
Kraken and its co-founder Jesse Powell, believe that donations and support can help “pave the way for Ethereum’s eventual transition to proof-of-stake.”
“We believe it’s our responsibility to give back to the open-source
innovators who are building the next generation of cryptocurrency,”
Powell, the CEO and co-founder at Kraken 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.”
Funds to Be Dispersed to Dev Teams Powering 80% of the Ethereum Network
Kraken’s announcement details that the funds will be awarded to dev
teams and clients supporting the Ethereum network. This includes Besu,
Erigon, Geth, Nethermind, and Nimbus as Kraken notes these platforms
“power more than 80 percent of the distributed Ethereum network.”
The Ethereum Foundation executive director Aya Miyaguchi
believes the support will be impactful. “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,” Miyaguchi said in a statement.
Kraken also detailed that to-date the firm has donated to Btcpay
Server, Gitcoin, the University of Wyoming, and Brink. The efforts are
“all designed to promote education and development related to the
cryptocurrencies traded on our global exchange,” Kraken’s announcement
concludes.
source link : https://news.bitcoin.com/kraken-donates-250k-to-open-source-ethereum-developers/
