Joseph Lubin and Vitalik Buterin, the founders of Ethereum and ConsenSys, have each donated 1,000 Ether (ETH) to the Moloch decentralized autonomous organization this month (DAO). After this major donation, the DAO total funds are now up to $1 million. This information comes directly from a correspondent who attended the Ethereal Summit on May 10, 2019.
The objective of the Moloch DAO, which was established by Ameen Soleimani, is to crowdsource the funding for shared and open-source Ethereum infranstructure. Soleimani is the CEO fo the Ethereum-based adult token platform called Spank Chain. The Moloch DAO explains that their objective is to accelerate the development of public Etherium infrastructure that many people need but cannot or do not want to pay for it on their own. By combining their Ethereum coins, teams building on the platform are able to collectively fund their open source work and work together in order to decide which projects are in the common interest.
Vitalik Buterin, co-founder of Ethereum, has in the past acted as an advisor to a different crowdfunding project related to Ethereum. This was the Ethereum Community Fund. It was initially endowed with $100 million for infrastructure developments on the platform.
At the beginning of 2018, the ECF named its first five grant recipients. The second group of grant recipients was made public in August 2018. An example of what was done with one of these infrastructure grants is from the second cohort recipient. Crypto researcher Patrick McCorry's work on increasing the speed and security of Ethereum state and payment channels earned an award.
Previous reports show that Lubin has high hopes for Ethereum's future. He believes that it will make up the backbone of the future internet. In his opinion, this is the third version of the world wide web. He thinks that it will deliver applications that look like websites or mobile apps. They will use a different database in the background that offers a higher level of trustworthiness. Those databases offer easier cooperation with each other. They are unlike the databases that most websites make use now for capturing data.