HRF Bitcoin Development Fund & BitMEX Disburses $210,000 in Grants to Developers

Bitcoin NewsHRF Bitcoin Development Fund & BitMEX Disburses $210,000 in Grants to DevelopersThe Bitcoin Human Rights Foundation, or HRF, announced the release of a $210,000 grant to Bitcoin developers across the world in a blog post this Monday. The grants aim to enhance Bitcoin developments in scaling, encrypted messages, private wallets, and translation to Arabic.HRF also partnered with BitMEX in offering a $150,000 grant to Bitcoin node scaling developer Calvin Kim, who is working on scaling the blockchain to use less storage space. BitMEX is set to renew its $100,000 grant with Kim, who started working on Bitcoin scaling in 2019, up to June 2022. The exchange already disbursed $30,000 to the developer in 2020. Bitcoin HRF will contribute $50,000 to advance Kim’s efforts in the scalability space.Seoul-based Calvin Kim is working on the Utreexo project, which aims to reduce Bitcoin’s large file size and conserve hard drive space for nodes recording the transactions. He is working to make the project downloadable, allowing all Bitcoin unspent transaction outputs to be stored in kilobytes rather than gigabytes.“Being financially stable has allowed me to focus more attention to furthering research and development of the Utreexo Project.”Growing focus on Bitcoin’s developmentThe HRF’s Bitcoin Development Fund also announced grants to Bitcoin Core developers Dhruv Mehta and Abubakar Nur Kahlil, build fast and cost-effective Bitcoin wallets. Both will receive $50,000 each for their developments using Lightning Network across the year.With the gospel of Bitcoin preaching far and wide, HRF is looking to advance the blockchain’s development in the Arabic world, granting “Arabic_HODL” $10,000 to translate Bitcoin content into the Arabic language.The Development fund was also awarded to Breez, a Lightning Network wallet aiming to build an encrypted chat channel (similar to Telegram), improve node capabilities and introduce Tor support. Finally, the HRF also granted Sphinx Chat, a Lightning wallet aiming to build an encrypted chat room with a built-in directory allowing users to connect over the Bitcoin blockchain instantly. Each will receive a $25,000 grant from HRF.Lujan OderaLujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

Source link

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img

You might also like...