BitMEX and Human Rights Foundation allocate $150,000 to Bitcoin developer

The crypto-derivatives exchange BitMEX has awarded another grant to Bitcoin developer Kelvin Kim, amounting to $100 000.

[1/4] BitMEX is delighted to announce a one year grant extension for @kcalvinalvinn

We are providing US$100,000 of funding, to work on open source Bitcoin development on a no strings attached basishttps://t.co/8We1EHfH7l pic.twitter.com/NTCMl19Ml0

— BitMEX Research (@BitMEXResearch) May 31, 2021

Kim contributed to the development of the alpha version of the Utreexo protocol, which would reduce the size of the UTXO set without compromising network security. In August 2020, BitMEX supported the developer with $40 000.

«Финансовая стабильность позволила мне сосредоточиться на дальнейших исследованиях и разработках проекта Utreexo», — заявил Ким.

A solution proposed in June 2019 by Tadge Dryja, one of the co-founders Lightning Network. It is a hash-based dynamic UTXO accumulator designed to compress data. Its main goal is to simplify the management of full nodes in the Bitcoin network.

BitMEX added that it is collaborating with the Human Rights Foundation (HRF), which awarded Kim a one-off grant of $50 000.

[2/4] This time we are especially pleased to be working closely with the @HRF and @gladstein, who are also providing @kcalvinalvinn a grant

The diversity of funding is important, as it helps ensure greater developer independence

— BitMEX Research (@BitMEXResearch) May 31, 2021

In March 2021, HRF announced the allocation of $70 000 from the fund to support developers working to enhance Bitcoin’s resilience, privacy, and decentralization features.

Earlier, the Nasdaq-listed mining company Marathon Patent Group supported with $96 000 the Bitcoin Core client developer Jonas Schnelli.