Edgea non-profit organization focused on funding open-source bitcoin development, released its annual report detailing over $1 million in donations to bitcoin developers in 2023. It was founded in 2020 by renowned bitcoin developers John Newbery and Mike Schmidt, and aims to provide financial support and mentorship to promising developers working on open-source bitcoin development.
In the report released on its fourth anniversary, Brink disclosed that it received approximately $2.4 million in donations last year from more than 500 contributors, including Jack Dorsey. StartSmall initiative as a major donor.
Brink's expenses totaled around $1.6 million in 2023. More than $1.2 million went directly to developer salaries and grants, allowing them to focus on improvements to the bitcoin protocol.
Since bitcoin's code is voluntarily maintained by open-source developers, organizations like Brink help ensure adequate funding for critical work on the protocol. Proponents believe that having more full-time developers improving bitcoin results in a stronger network.
The report highlighted key achievements by Brink-sponsored developers in areas such as code review, security improvements, testing infrastructure and update research.
The annual report provided transparency into how Brink allocates funds to support the bitcoin developer community. The disclosure of expenditures and engineering progress helps validate the nonprofit’s role in sustaining bitcoin as an open-source, decentralized project.
