cryptocurrency exchange okcointogether with the partner investment firm Paradigmhas announced a new set of funds for the Bitcoin Core contribution.
Funds will go towards a grant for the Core maintainer marco falkewhom Okcoin has supported in the past, in 2021 and in 2020. Okcoin has also previously supported Lightning developer Antoine Riard in an attempt to support second-layer network privacy.
“Falke is one of only six people in the world with the ability to approve or reject proposed changes to the code underlying the world’s largest cryptocurrency.” ad Explain. “As maintainer of Bitcoin Core, review proposed additions to the network code from contributors, of which there are over 400 currently active. The grant from Okcoin and Paradigm is to provide Falke with a living income while he spends more than 40 hours per week developing Bitcoin Core, a job without salary, given the decentralized structure of Bitcoin.”
The announcement also highlights that many Bitcoin users may not be aware that Bitcoin developers and maintainers are technically volunteers who, due to the nature of Bitcoin, have no centralized organization to provide funding or support for their efforts. Okcoin had previously published a survey showing that 85% of Bitcoiners care about exchanges funding Bitcoin development.
Paradigm co-founder Matt Huang addressed this, saying that “Paradigm believes it is our responsibility to help fund independent Bitcoin research and development… We are pleased to award a grant to Marco, who continues to advance the network with his work.”
This particular contribution brings Okcoin’s total contributions to Bitcoin development funding to $1.5 million. This respectable offer to the Bitcoin network would ideally be replicated by other companies in the industry to support the development of the technology that enables its existence.
