Tor Project’s Bitcoin Crowdfunding Campaign Hits Goal in 25 Hrs

Launched on July 15, Tor Project’s new Bitcoin-based crowdfunding campaign reached the softcap of $10,000 in 25 hours.

Tor Project’s new Bitcoin (BTC)-based crowdfunding campaign has reached the softcap of $10,000 in 25 hours after the launch.

The new crowdfunding program, known as BitcoinForTor, was launched on July 15 in collaboration with open-source payment processor BTCPay Server. By July 16, the project has raised the minimum amount expected to be secured, BTCPay announced.

Having reached the softcap, Tor Project has not halted the fundraising campaign. It is inviting cryptocurrency users to continue donating with Bitcoin within the next 13 days, claiming that protecting privacy online “requires financial support beyond 10k.”

At press time, the amount raised within BitcoinForTor program accounts for $10,927, with a total of 373 contributors.

BitcoinForTor crowdfunding details

BitcoinForTor crowdfunding details. Source: BitcoinForTor

As mentioned on the project’s website, funds received from the campaign are going directly to the The Tor Project's Ledger Nano S wallet. The raised funds will be spent to support global community devoted to human rights such as privacy and freedom online, the campaign notes.

Nicolas Dorier, software developer at crypto-focused fintech firm Metaco SA, has encouraged the initiative, claiming that Tor is not just a great software, but an “essential piece of many projects in Bitcoin.”

Earlier this year, Cointelegraph reported that Tor Project started accepting donations in a number of cryptocurrencies such as Bitcoin, Ethereum (ETH) and Litecoin (LTC) on its major donational portal.

Publication date: 
07/17/2019 - 16:55

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