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Donations for newly developed projects can help them enormously in achieving their goals, and although donations made in cryptocurrency are a relatively new concept, it is being practiced across the globe.
For the team of the cryptocurrency project Grin, a large donation of 50 Bitcoin(BTC)trade was made (about $430,000 at current Bitcoin price), assuring them that the project is worth it and apparently some generous people with a cryptocurrency background support it.
However, this is not the first time that the cryptocurrency project has received a donation from anonymous sources. With the new large financial support that was granted to Grin, it now aims to take on new ventures in term of the development of the project.
Contributions for digital currency projects through coding is not as common due to very specific skill set and expertise required to make enough of a difference. Therefore, many people resort to providing these companies with financial support that can be just as beneficial for them, if not more.
It has yet been unclear who the anonymous donor behind the 50 BTC contributed to Grin is. Grin has a few people working on it who claim to have some clue as to who the anonymous donor actually is, but they refuse to speak anything about it or disclose the name of their assumed individual due to privacy reasons.
The Anonymous Donor Applauds the Crypto Project
A message was sent with the Bitcoin donation in which the donor expressed that he has no direction of how the donation should be utilized and asked the team to spend the money however they see necessary. The note claimed that the donation is merely a token of appreciation granted for the hard work the team has put in the crypto project since the beginning.
Although Grin is classified as an economic project, it differs from other cryptocurrency projects due to its advancements in technology, whilst stating that it might be more accurate to define it as a technological extension.
For any project, cryptocurrency no exception, funding is vital. During the early stages of a project it is difficult to maintain stable finances and there’s a necessity to ensure that the money is enough to keep the project running. Thus, donations of 50 BTC to projects like Grin can grant them financial freedom so they can focus on working on their projects and bringing their vision to life.
The donor’s comment where he states that it feels like 2009/2010 all over again has been gaining some media attention. Such comment indicates that the donor is either somebody who was supportive of Bitcoin at its beginning stages or someone who closely worked with the mystifying Satoshi Nakamoto.