Wednesday, May 12, 2021

Tor Project’s crypto donations increased 23% in 2020

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The cryptocurrency neighborhood has been doubling down on its help to privacy-centric purposes like Tor Browser in 2020, based on new knowledge.

The Tor Mission, a non-profit group behind the nameless Tor Browser, noticed a 23% enhance in cryptocurrency donations in 2020. A spokesperson on the Tor Mission instructed Cointelegraph that crypto-powered donations surged from $189,637 in 2019 to $233,019 in 2020.

In line with a Jan. 25 announcement by the undertaking, crypto donations made up practically 26% of whole particular person donations, which amounted to $913,110. In line with a Tor Mission consultant, Bitcoin (BTC) was the preferred cryptocurrency for his or her donors in 2020, adopted by Ether (ETH) and privacy-focused altcoins like Monero (XMR):

“Now we have seen that Bitcoin stays the preferred cryptocurrency for our donors, adopted by Ethereum and Monero — these two currencies are about evenly cut up for second hottest. Subsequent hottest is Zcash.”

The Tor Mission has emerged as a significant Bitcoin-friendly nonprofit, having started accepting BTC donations again in 2013. In March 2019, the Tor Mission expanded the variety of supported cryptocurrencies for donations, including eight altcoins including Ether, Bitcoin Money (BCH), Litecoin (LTC) Sprint (DASH), Stellar Lumens (XLM) and others.

The undertaking’s transfer to help extra cryptocurrencies for donations was apparently extensively appreciated within the crypto neighborhood as Bitcoin holders bought a possibility to maintain their BTC and donate in different digital currencies as an alternative. 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 Mission.

Cryptocurrencies like Bitcoin have been changing into more and more fashionable as a device for donations in 2020. Dave Portnoy’s Barstool Fund — an initiative to help small companies impacted by the COVID-19 pandemic — started accepting crypto donations by The Giving Block in late 2020.