In a recent revelation, Steven Nerayoff, a former advisor to Ethereum and current litigant against Ethereum founders Vitalik Buterin and Joseph Lubin, has disclosed a pivotal moment in his history with the cryptocurrency. In a detailed statement on X (formerly Twitter), Nerayoff revealed that he turned down an allocation of more than 1 million Ether (ETH) in the past. According to Nerayoff, this decision was rooted in his commitment to avoiding conflicts of interest and a vision for Ethereum that diverged from the trajectory set by its founders.
The Ethereum insider shared this revelation in a candid post on X, stating, “OVER 1 MILLION ETHER: Here is how much I care. I would have over 1 million Ether if I didn’t refuse my contribution, get reimbursed for expenses which was in Ether & choose not to invest in the ICO to avoid a conflict. I don’t regret it for a second. It’s not what I signed up for.”
Nerayoff attributed the surge in Ether’s price to the initial coin offering (ICO) and utility token model, which he believes played a crucial role in funding numerous projects on the Ethereum platform. Despite his contributions, he expressed dissatisfaction with the current state of Ethereum, stressing that a focus on decentralized applications (DApps) could have significantly increased Ether’s value.
“But I don’t say that to brag as I’m not happy, that’s the reason it’s valuable. If they had focused on DAPPs then the world would have changed PLUS Ether would be way more valuable. They have hurt the value of Ether. It’s just people don’t realize how much more valuable it would be today if they did what they said and created a truly decentralized scalable smart contracts platform,” he further stated.
Ethereum Insider Reveals Stark Visionary Contrast With Leadership
Nerayoff’s comments underscore a significant difference in vision between him and the Ethereum leadership. He also revealed the refusal of his Ether allocation and expense reimbursement, emphasizing his focus on changing the world rather than personal gain – a departure from the motivations of Buterin and Lubin. “I cared deeply about changing the world, not Vitalik & Lubin’s insatiable appetite for money & power,” he concluded.
To support his claims, Nerayoff released communications with Ethereum co-founder Ethan Wilding and former Chief Communications Officer (CCO) at Ethereum, Stephan Tual. These communications, dating back to 2014 and 2015, revolve around the Ethereum endowment and the allocation of Ether to Nerayoff. In an email dated March 12, 2015, from Ethan Wilding, he acknowledges Nerayoff’s decision to direct his Ether allocation elsewhere. Nerayoff’s response underlines his dedication to the project without the expectation of financial return.
That is where you are wrong
But once again fantastic to let people know exactly who you are and what you believe in
When people know they have enough info to decide if they want to listen to anything you have to say.
“I see. I really was here to help the cause and continue to do so. As such, I wasn’t expecting anything in return. I donated, and continue to when asked, my time and passion to the project.”
Moreover, in exchanges with Stephan Tual, Nerayoff elaborates on his financial backing for Ethereum, underscoring his dedication without pursuing reimbursement:
“No this was not approved although I spoke with Joe [Lubin] about it at length. The issue is that it was the last large office space […] and create a community which will be very beneficial to Ethereum NYC.. Right now I’m paying for it out of my pocket… I suppose for now consider this my gift to Ethereum (along with the Opinion Letter) and whatever the future holds on this is fine with me so long as we are successful.”
These disclosures arise amidst Nerayoff’s ongoing preparations for his legal confrontation with Buterin and Lubin, aiming to substantiate fraud allegations against them. Importantly, the timing of Nerayoff’s lawsuit filing remains uncertain.
In recent months, Nerayoff has consistently unveiled new revelations and leveled accusations against Buterin and Lubin. His assertions, including labeling Ethereum as a more significant scam than FTX and implicating an inside job in the DAO hack, have generated considerable attention.
As of the latest update, ETH is trading at $2,515.
Former Ethereum Advisor Rejects Offer Of Over 1 Million ETH, Cites Visionary Differences 2
Leading Oracle network pioneer Chainlink [LINK] has announced its latest batch of decentralized applications [DApps] with integrated oracle functions across prominent networks like Binance chain, Ethereum, and Moonriver. At the top of the list is the non-custodial lending platform Atlantis loans integrating with the Chainlink Price Feeds on Binance Smart Chain [BSC] mainnet. According to the post, the Chainlink support would provide access to real-time global market prices which is critical to the security of DeFi money markets.
Next on the list is the PlayToEarn gaming firm Dragonkartcom utilizing Chainlink feeds on the BSC to help mint NFTs with verifiably random traits and generate provably rare items in loot boxes as NFT-focused blockchain games require fair minting and distribution processes. In addition to that, having access to a tamper-proof and auditable source of randomness ensures more transparency and a fraud-proof user experience. Further, the blog stated,
In order to help ensure NFT mints and Mystery Combo boxes are unbiased in outcome for all users, we needed access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs are opaque and don’t provide users with definitive proof about the integrity of the process.
Leveraging Chainlink Data Feeds to Help Power dApps
Smart contract marketplace Transient has too jumped on the bandwagon of establishing support using Chainlink VRF securing through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts. As a matter of fact, on-chain prediction markets require oracles to determine outcomes. Through this integration, the blog claims that LINK Price Feeds would help settle price prediction markets in its CryptoPool dApp. Apart from that, Transient also plans to expand into esports with support from Chainlink.
Lastly, crypto-asset lending protocol WePiggy has integrated Chainlink Price Feeds on the Moonriver mainnet in order to provide its users with stronger assurances that their collateral assets would consistently track global markets and without being affected by price manipulation.
One asset that has made surges of late was Tron, and its CEO Justin Sun wasted no time in informing the world about his upcoming plans and goals.
The Tron Foundation is known for announcing multiple developments and updates from its roster but the past few weeks has seen a lull from the Justin Sun led the department. This notion was blown away when the Chief Executive Officer [CEO] took to Twitter to reveal that it had added another feather to its cap when it came to Decentralized Applications (DApps)
Dapp.com, the popular data aggregator on DApps stated that out of the top 5 applications on the ranking list, four were built on the Tron blockchain. The list is speculated to pave the way for asserting Tron’s dominance in the application space, with rivals Ethereum and EOS hot on its tail. According to Dapp.com, DLive was the most used application with a 24-hour volume of 1.02 million LINO. DLive was the only application in the top 5 list that was not built on the Tron blockchain but rather on the LINO blockchain.
WINk came in second on the list and was the most used gambling DApp in the industry. The application had witnessed a resurgence in its market volume after being built on the Tron platform. The number of users on the 24-hour spectrum has always stayed above the 1k mark with the developers claiming that the number would only shoot up in 2020.
The third dApp on the rankings was Betfury, a popular Tron partner. Despite the fall in Tron’s prices over the last quarter, Betfury has consistently released updates to ramp up its mainstream application usage. The 24-hour volume on Betfury was clocked at 179.27K USD, a far cry from its hold in the lower thousands when it first launched. Justin Sun’s original tweet had read:
“According to @dapp_com, on the #Dapps overall ranking list, 4 out of the top 5 Dapps are built on #TRON network. Besides, @NewdexOfficial also launched on #TRON network in September & #TRC20–#USDT is supported on Newdex exchange as well.”
The announcement was met with mixed reactions from the Tron community or ‘TRONics’. Some were of the opinion that Tron should focus on quality and not quantity as that would impede its growth in the long term. Another sector of the fanbase urged the Justin Sun led the organization to carry on their rampage and ‘destroy’ the monopoly held by Ethereum and EOS.
Tron received another boost recently when Samsung announced that they were adding support for three new Tron dApps. The report released by a Korean outlet stated that the tech behemoth will add blockchain-based games such as Super Player and Blockchain Cuties to its flagship mobile releases.
