Ethereum has released new details about the state of its finances, ending speculation about the project's financial health that has persisted among the technology's enthusiasts.
One of the most successful token crowdsales in history by some metrics, the ambitious blockchain-based decentralized application platform raised 31,529 BTC, or roughly $18.4m at then market prices, through the sale of Ether, its native blockchain tokens last July.
Of issue since has been the lack of clarity regarding how much real-world funding Ethereum and its related entities have had in reserve due to the subsequent decline in the price of bitcoin relative to the US dollar.
However, Ethereum inventor Vitalik Buterin today revealed new details about the subject today in a blog post dedicated to providing an update on the state of the open-source project, launched to the public on 30th July with its Frontier release.
Buterin wrote that the Ethereum Foundation, the Switzerland-based nonprofit that handles Ether's financials and manages development funding, is facing budget constraints due to the declining value of bitcoin against the US dollar.
Happy reading :
http://www.coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/
