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Crypto exchange BitMEX grants $150,000 to Korean BTC developer

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Crypto exchange BitMEX announced a one-year grant extension for BTC developer Calvin Kim yesterday, it shared in a blog post.

“BitMEX is delighted to announce a one-year grant extension for kcalvinalvinn. We are providing US$100,000 of funding, to work on open-source BTC development on a no strings attached basis,” the exchange’s Research division said in a tweet.

Developers of wholly decentralized platforms like BTC rely on public and company grants to continue with their work on the protocol, unlike more centralized cryptocurrencies which have a full-time team on payroll.

BitMEX is one of the forerunners of such a program. It has granted over $1.3 million to developers working on open source solutions for BTC. The 2021 program will open to new applicants in July.

BTC betterment via grants

In the post, BitMEX said Kim’s developer grant was renewed until June 2022. The exchange provided him with a $100,000 one-year grant, with the remaining $50,000 coming in a lump sum from the Human Rights Foundation.

“We are delighted to extend our financial support for Calvin for another year. We are pleased to support a Korean developer such as Calvin, as ensuring the geographic diversity of BTC development is an important factor to consider,” said Alex Höptner, CEO of BitMEX, in a comment.

Kim, in a statement, said that being financially stable allowed him to focus on the research and development of the “Utreexo” project. “Last year, I focused on prototyping a Utreexo BTC full node, moving the project closer to reality from just a research project. This year, with the financial support of bitmex and the human rights foundation, I intend to continue what I was doing last year and continue moving the utreexo project to something a user can download and use,” he said.

Calvin is working on a small team focusing on the Utreexo Project. The latter enables users to validate the blockchain in non-sequential order, allowing for more parallelization.

The post Crypto exchange BitMEX grants $150,000 to Korean BTC developer appeared first on CryptoSlate.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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