Crypto contributions for Tor Project rose by 23 percent in 2020.

Spread the love

Bitcoin remained the most popular cryptocurrency for the Tor Project contributors in 2020, followed by altcoins like Ether, Monero and Zcash.

The cryptocurrency community has doubled in favour of privacy-centric applications such as Tor Browser in 2020, according to new proof.

Tor Group, a non-profit organization behind the encrypted Tor Browser, saw a 23-percent growth in cryptocurrency donations in 2020. The Tor Project spokesperson told Cointelegraph that crypto-powered donations grew from $189,637 in 2019 to $233,019 in 2020.

According to a Jan. 25 project statement, crypto contributions accounted for approximately 26% of all individual donations, which amounted to $913,110. According to the Tor Project representative, Bitcoin (BTC) was the most common cryptocurrency for their donors in 2020, followed by Ether (ETH) and privacy-focused altcoins such as Monero (XMR):

“We have seen that Bitcoin remains the most popular cryptocurrency for our donors, followed by Ethereum and Monero — these two currencies are about evenly split for second most popular. Next most popular is Zcash.”

The Tor Project has emerged as a major Bitcoin-friendly nonprofit, having started accepting BTC donations back in 2013. In March 2019, the Tor Project expanded the number of supported cryptocurrencies for donations, adding eight altcoins including Ether, Bitcoin Cash (BCH), Litecoin (LTC) Dash (DASH), Stellar Lumens (XLM) and others.

RECOMMENDED READ:  Why is the return of Bitcoin Futures OI to pre-ATH crucial?

The project’s move to support more cryptocurrencies for donations was apparently widely appreciated in the crypto community as Bitcoin holders got an opportunity to keep their BTC and donate in other digital currencies instead. In September 2019, Matt Odell, a Bitcoin maximalist and co-host of the Tales from the Crypt podcast, urged the community to support the Tor Project with altcoins, not Bitcoin. “Donate shitcoins. stack sats,” Odell wrote in his XLM transaction to the Tor Project.

Cryptocurrencies like Bitcoin were becoming increasingly popular as a tool for donations in 2020. Dave Portnoy’s Barstool Fund — an initiative to support small businesses impacted by the COVID-19 pandemic — started accepting crypto donations through The Giving Block in late 2020.

 350 Interactions,  2 today

READ ALSO:
Blockchain technology will close the gap between DApps and enterprises.

It is important that conventional companies join the decentralised ecosystem in order to improve the industry's security and credibility. Blockchain Read more

US charges three North Korean hackers for crypto attacks and WannaCry ransomware

The Department of Justice prosecuted three hackers associated with the notorious Lazarus Group. On Wednesday, the United States Department of Read more

Popular Youtube influencer, with 13.6 million subscribers claims he was paid to promote Tron

Marques Brownlee, a prominent Youtube influencer, told his 13.6 million subscribers that representatives allegedly offered him a deal to help Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Us