Ethereum co-founder Vitalik Buterin has provided financial support totaling approximately $765,000 in Ethereum to two privacy messaging applications aiming to compete with established platforms like Signal and Telegram. This funding is intended to aid the development of these apps and enhance user privacy. While Signal and Telegram enjoy widespread global popularity for their privacy and security features, several new apps have emerged in recent years seeking to offer users more secure and improved communication options. Buterin’s investment could encourage the growth and technical advancement of these emerging platforms. Ethereum is a well-known blockchain platform that utilizes the digital cryptocurrency Ethereum and is widely used for building decentralized applications. Buterin’s support reflects his interest in blockchain technology and digital privacy. If these privacy messaging apps succeed in attracting users, increased competition could lead to safer and more private communication options in the market. However, these new platforms will face challenges not only in technology but also in marketing and gaining user trust when competing against strong incumbents like Signal and Telegram.
Source: decrypt
