Ethereum co-founder says burning of 410 trillion Shiba was not easy
Vitalik Butterin explained how it was scary and fun to burn 50% supply of Shiba Inu tokens.
In May 2021, the Shiba Inu token grabbed attention because of the shoutout of Elon Musk alongside Dogecoin. After getting success, the project team behind the Shiba Inu coin donated 50% of the total supply of Shiba Inu to Ethereum co-founder Vitalik. However, it was a marketing strategy of the Shiba Inu team to grab more popularity and attention in this industry but Vitalik never announced this matter openly.
Recently Vitalik Butterin appeared in a podcast with Cobie and Ledger. In the podcast, Vitalik said that it was not easy for him to use 410 trillion Shiba in tokens.
Vitalik said that he bought a separate laptop worth $300 to burn these tokens. He said that the SHIB trove was in his cold wallet. And the private key of his cold wallet was separately at two places ( half with his family and half with himself). So besides buying a separate laptop, he did a phone call to the family in Canada to access the wallet.
Overall, Vitalik said that accessing the wallet on the new laptop and also connecting the wallet device manually with the internet through the laptop was scary and funny thing just like “make a good plot for a James Bond movie”, may not be.
Why did Vitalik burn the Shiba Inu token?
The decision of the Ethereum co-founder to burn the free Shiba Inu was based on his thinking that he doesn’t want to be a locus of power in any crypto project.
Vitalik donated around 10% of the donation to the Crypto Relief Fund India, started by Polygon Network co-founder Nailwal.
In a transaction, Vitalik also wrote that don’t transfer any more coins to him. This shows that Ethereum co-founder doesn’t want to make any crypto project a centralized project, instead, he wants to see the crypto projects and blockchain networks as the best open-source and decentralized contributed project.
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