Core

Bitcoin

Million

Billionaire Twitter co-founder Jack Dorsey plans to allocate more capital to the Bitcoin ecosystem after pledging $5 million to the network’s core developers through his grantmaking organization Start Small.The firm will distribute the funds to the Bitcoin development non-profit, Brink, over the next five years in $1 million annual installments.&nbsp;<ul><li>According to its <a href="https://brink.dev/" rel="noopener noreferrer nofollow">website</a>, Brink exists to “support the Bitcoin developer community through funding, education, and mentoring.”&nbsp;</li><li>“We are 100% funded by donations from individuals and organizations who wish to support the open-source Bitcoin network and protocol,” the site states.</li><li>Unlike many blockchain projects, Bitcoin lacks any committed founder, foundation, or company with a financial stake in the protocol’s success.&nbsp;</li><li>As such, donations and charity are largely required to support the developers who maintain its codebase, who often <a href="https://cryptopotato.com/another-bitcoin-core-maintainer-steps-down-after-7-years/" rel="noopener noreferrer nofollow">rotate</a>.&nbsp;</li><li>“Brink is very grateful for this extended pledge to support our Bitcoin developer funding efforts,” said Brink co-founder Mike Schmidt. “We can help make Bitcoin development a sustainable career for the talented developers that are building, securing, testing, and reviewing the Bitcoin Core codebase.”</li><li>Last year, Jack Dorsey launched a <a href="https://cryptopotato.com/jack-dorsey-starts-a-new-fund-to-provide-legal-defense-to-bitcoin-developers/" rel="noopener noreferrer nofollow">legal defense fund</a> to defend Bitcoin developers to fight back against lawsuits from self-proclaimed Bitcoin founder Craig Wright.&nbsp;</li><li>In 2021, he <a href="https://cryptopotato.com/jay-z-and-twitters-jack-dorsey-set-up-500-btc-trust-for-bitcoin-developers-in-africa-and-india/" rel="noopener noreferrer nofollow">teamed</a> with Jay-Z to launch a 500 BTC blind trust to assist Bitcoin development teams in Africa and India.&nbsp;&nbsp;</li><li>On Thursday, Dorsey’s payment company Block <a href="https://bitkey.build/beta/?ref=nobsbitcoin.com" rel="noopener noreferrer nofollow">unveiled</a> the beta for its self-custody Bitcoin wallet Bitkey, which will feature special integrations with Coinbase and CashApp.&nbsp;</li></ul><blockquote class="twitter-tweet">Bitcoin and nostr are the only two truly censorship resistant technologies at scale. <a href="https://t.co/0O1oihSRaz" rel="noopener noreferrer nofollow">https://t.co/0O1oihSRaz</a>— jack (@jack) <a href="https://twitter.com/jack/status/1669697334240837632?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 16, 2023</a></blockquote>The post <a href="https://cryptopotato.com/jack-dorseys-fund-pledges-5-million-to-bitcoin-developers/" rel="noopener noreferrer nofollow">Jack Dorsey’s Fund Pledges $5 Million to Bitcoin Developers</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Jack Dorsey’s Fund Pledges $5 Million to Bitcoin Developers

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