{"id":27639,"date":"2020-08-24T15:19:31","date_gmt":"2020-08-24T12:19:31","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27639"},"modified":"2025-08-26T22:12:59","modified_gmt":"2025-08-26T19:12:59","slug":"bitmex-awards-a-40000-grant-to-bitcoin-network-scaling-solution-developer-calvin-kim","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitmex-awards-a-40000-grant-to-bitcoin-network-scaling-solution-developer-calvin-kim\/","title":{"rendered":"BitMEX awards a $40,000 grant to Bitcoin network scaling solution developer Calvin Kim"},"content":{"rendered":"<p>The BitMEX operator, 100x Group, awarded a $40,000 grant to Bitcoin developer Calvin Kim. He contributed to the development of the alpha release of the Utreexo protocol, which will reduce the size of [simple_tooltip content=&#8217;unspent transaction outputs&#8217;]UTXO[\/simple_tooltip] without compromising network security.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">[1\/3] 100x Group is delighted to announce that it has awarded a US$40,000 one-year grant to Utreexo researcher &amp; developer Calvin Kim. Calvin was instrumental in the development of the first demonstration release of Utreexo<a href=\"https:\/\/t.co\/xzEM5LnjX3\">https:\/\/t.co\/xzEM5LnjX3<\/a> <a href=\"https:\/\/t.co\/M12bliOdJE\">pic.twitter.com\/M12bliOdJE<\/a><\/p>\n<p>\u2014 BitMEX Research (@BitMEXResearch) <a href=\"https:\/\/twitter.com\/BitMEXResearch\/status\/1297804890140549121?ref_src=twsrc%5Etfw\">August 24, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Currently, each node must maintain the current UTXO set to verify new transactions and spend coins.<\/p>\n<blockquote>\n<p>\u201cAlthough these records are much smaller than the full Bitcoin transaction history \u2014 4 GB versus 300 GB \u2014 their size could become the main bottleneck for scalability in the future,\u201d BitMEX said in a statement.<\/p>\n<\/blockquote>\n<p>The solution, called Utreexo, was introduced in June 2019 by one of the Lightning Network\u2019s co-founders, Tadge Dryja. It is a hash-based dynamic UTXO accumulator that allows data to be compressed. Its main aim is to simplify the management of full nodes in the Bitcoin network.<\/p>\n<blockquote>\n<p>\u201cThere is no security loss. Instead, the burden of tracking funds is shifted to the owner of those funds. It maintains proof that the funds exist, and provides it when they spend coins,\u201d say BitMEX representatives.<\/p>\n<\/blockquote>\n<p>By awarding Calvin Kim, 100x Group has completed its 2020 grant program with a total of $615,000. The company said it would open a new round in the summer of the following year.<\/p>\n<p>In June, BitMEX awarded a $100,000 grant to Chaincode Labs and Bitcoin Core developer Gleb Naumenko.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BitMEX operator, 100x Group, awarded a $40,000 grant to Bitcoin developer Calvin Kim. He contributed to the alpha release of the Utreexo protocol, which will reduce the size of unspent transaction outputs (UTXO) without compromising network security.<\/p>\n","protected":false},"author":1,"featured_media":27640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,788,1358,1900],"class_list":["post-27639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-bitmex","tag-grants","tag-utreexo"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=27639"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27639\/revisions"}],"predecessor-version":[{"id":27641,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27639\/revisions\/27641"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/27640"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=27639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=27639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=27639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}