India gets Rs 4.5 crore from Ethereum co-founder for Covid relief

Vitalik Buterin, the co-founder of Ethereum, recently posted a link that confirms the transaction to Sandeep Nailwal, an Indian entrepreneur who initiated the campaign. The link is the proof of the transfer of 100 MKR and 100 ETH, which is approx. equal to Rs. 4.5 crore ($606,110). The amount is to be used for COVID-19 relief in India.

Used to build contracts on the blockchain, Ethereum is an open-source blockchain software founded in 2014. The favored cryptocurrency is in the news due to its use in transferring and making of non-fungible tokens (NFTs). The Non-Fungible Tokens are digital collectibles that can be identified uniquely and held by individuals. Also known as Ether, Ethereum is the second biggest cryptocurrency worldwide after Bitcoin.

Upon seeing the scope and scale of the tragedy that the pandemic is causing in India, many relief efforts have come into action. This ranges from individuals helping people coordinate and find resources to giving their time. It also includes companies donating emergency supplies and money for oxygen. People worldwide are coming to support India. In this scenario, the donation by Buterin should aid the global cryptocurrency community to create a difference here.

Buterin thanked Sandeep Nailwal for organizing the COVID-19 relief fund in his tweet. He also thanked Indian-origin entrepreneur and technology investor Balaji Srinivasan for signal boosting the campaign.

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