Cryptocurrencies created with borrowed funds
Some ambitious cryptocurrency projects were created thanks to the attraction of loans and borrowings:
1. Tezos ($XTZ ) - in 2017, the founders took out a loan of $1.5 million to develop the blockchain.
2. Ethereum ($ETH) - Vitalik Buterin borrowed from friends early on.
3. Bitcoin Cash ($BCH) - a fork of Bitcoin, financed by loans from miners.
4. Waves ($WAVES ) - founder Alexander Ivanov raised $120,000 in loan funds.
5. Steem ($STEEM) - the developers took out a loan of $3.8 million to launch the blockchain.
6. Zcash ($ZEC ) - the team received $200,000 in debt from an investor.
7. Bitcoin Gold ($BTG) is a fork of Bitcoin financed by credit money.
The use of borrowed funds made it possible to speed up development, but also increased the risks for creators in case of project failure.
Did you know the history of these interesting cryptocurrencies?
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