It is reported that the developer of the cryptocurrency project Grin received an anonymous donation of 50 bitcoins, worth nearly $300,000.
The news was announced at the developer's weekly meeting. It is worth noting that when Grin went public, it promoted “fair distribution”, meaning that the project leader did not raise funds for the project through ICO or private placement.
- The Grin Development Fund has once again received an anonymous donation from 50 BTC. The donor is the Bitcoin “Antiquities Group” in 2009-10.
This means that the development of the Grin protocol is entirely dependent on voluntary contributions and crowdfunding. Grin is a new cryptocurrency launched in January this year, using new technology to confuse transaction information.
Speaking of this huge donation, Grin developer Daniel Lehnberg said:
Thank you very much, we will make sure to make the most of this money.
Users can donate to five public addresses at any time to support the development of the Grin project, which currently accepts Grin, Bitcoin, Ethereum and Zcash. The 50 bitcoin donation comes from Grin's quarantine witness address, which was last Sunday.
It is worth noting that the time stamps for these 50 bitcoins are shown as November 25, 2010, so the donor is likely to be an early bitcoin believer. Given that Grin was on the line, many Bitcoin enthusiasts expressed their feelings, which further confirmed this conjecture.
In addition, the donation also indicates that Grin's donation model is feasible.
According to a recently released financial report, Grin’s funding has nearly tripled over the past four months, from an estimated $65,237.35 to $123,423.73. Now, with an additional 50 BTC donation, the project holds about six times as much money as it was at the beginning of 2019.
In the future, these funds are expected to be used for project development, including the construction and deployment of critical infrastructure, website design and market expansion, and mining hardware design.