The cryptocurrency exchange Coinbase will award grants to at least two Bitcoin developers.
Coinbase is beginning our search for at least two Bitcoin development grant recipients starting today. If you’d like to apply or nominate a Bitcoin core developer to be sponsored, read more here and fill out the form. https://t.co/2oGhfA9v6z
— Coinbase (@coinbase) October 15, 2020
To this end, the American company will create a specialized fund — the Coinbase Crypto Community Fund. If the idea proves successful, the program will be expanded to other projects and cryptocurrency communities.
Funding will go to developers who make a significant contribution to the Bitcoin ecosystem. The company is prepared to provide annual grants, but will also consider short-term initiatives.
Crypto firms have long provided financial support to developers whose work helps advance the Bitcoin network. In 2019, BitMEX, operated by HDR Global Trading, supported Chaincode Labs and Bitcoin Core developer Gleb Naumenko with a $100,000 grant. Michael Ford also received $60,000 in funding.
In September 2019, Square granted $100,000 to BTCPay Server’s Developer Fund. The funds were intended for further development of the project and to grow its user base.
Later Square provided a grant to an anonymous Lightning Network developer under the handle ZmnSCPxj. The amount of support was undisclosed, but the company said it would be enough for 14 years.
In 2020 BitMEX provided a sum of $40,000 to Bitcoin developer Kelvin Kim, who found a way to reduce the size of UTXO entries in the alpha version of the Utreexo protocol without compromising network security.
This year Square grants were awarded to Bitcoin protocol researcher John Atak and developer Tankred Hase. The recipient of the grant for Lightning Network infrastructure development was the Spanish developer team Talai.
The cryptocurrency exchange OKCoin supported a six-figure sum for Bitcoin Core developer Marco Falke for his contributions to the development and promotion of Bitcoin.
OKCoin, together with BitMEX, allocated $150,000 to Amiti Uttarwar, the author of a proposal to reduce the frequency with which wallets retransmit transactions.
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