Ethereum co-founder Vitalik Buterin in has personally moved ETH 16,384 to fund the development of a suite of open-source software and hardware security solutions. Buterin is seeing this full stack of solutions to function beyond just the Ethereum ecosystem across categories including finance, communications, governance, and operating systems.
As per Buterin, the Ethereum ecosystem will be stepping into a moderate fiscal consolidation. The aim is to financially support two goals –prepare Ethereum’s ecosystem for more scalability and upgrade software, hardware security for Web3 networks.
“Specifically, we are seeking the existence of an open-source, secure and verifiable full stack of software and hardware that can protect both our personal lives and our public environments,” Buterin said on X on Friday.
At present, ETH is trading at $2,745. At this price, Buterin’s ETH 16,384 roughly amounts to over $45 million. This amount is intended to be spent over the next few years by Ethereum to fulfil its goals.
In a message to the developers, Buterin also mentioned that he is exploring secure decentralized staking options to increase more capital from staking rewards to contribute to these goals.
“The tools to ensure your, and your community’s, autonomy and safety, as a basic right that belongs to everyone. Open not in a bullsh*t ‘open means everyone has the right to buy it from us and use our API for $200/month’ way, but actually open, and secure and verifiable so that you know that your technology is working for you,” the Ethereum mogul noted.
Buterin had conceived Ethereum it in 2013. He dropped out of the University of Waterloo in Canada in 2014 to focus on programming Ethereum. In 2015, he deployed the blockchain along with a team that constituted Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.
Buterin continues to remain an integral part of the Ethereum ecosystem — often breaking down the nitty-gritties of blockchain technology on his social networking handles.
As per Arkham Intelligence, Buterin personally holds over ETH 240,000 amounting to around $760 million.