The Bitcoin trading platform BitMEX has announced two new open source Bitcoin developer grants to Rene Pickhardt and Chris Coverdale, marking the end of the company’s 2021 grant program. René and Chris each received a grant of $ 33,333 over eight months until May 2022, which would equate to $ 50,000 per year. According to the announcement, this bridge funding is designed to help aspiring developers get started in full-time Bitcoin development.
“With the addition of Rene Pickhardt and Chris Coverdale to the Bitcoin open source developer grant program, that makes six open source developers in total,” said Alex Höptner, CEO of BitMEX, according to the announcement. “We are proud of our long-term commitment to Bitcoin and open source technology. We are delighted to welcome René and Chris to the program and will continue to support the development of Bitcoin for years to come. “
René will work on improving the reliability of the Lightning Network payment process. In March, he published an article presenting the probabilistic path research, which became the foundation of his follow-up work on Best Reliable and Cheap Payment Flows, submitted in July. René intends to implement his new invented path search algorithm “Pickhardt payments“as a library that can be leveraged by nodes, wallets and service providers in the Lightning Network. The BitMEX grant will allow René to further develop his optimal payment flow algorithm and work on the many follow-up questions posed by his article.
Chris, meanwhile, will focus on bitcoin mining. The developer will work on building an implementation of the Stratum V2 Bitcoin mining pool protocol, which he has been working on since February. The protocol allows end miners to select transactions and contract blocks themselves, rather than delegating those choices to the mining pool operator, improving data transfer efficiency and Bitcoin censorship resistance. . Slush Pool / Braiins are also working on an implementation of this protocol. Nonetheless, the BitMEX grant aims to empower Chris in his independent implementation and improve Stratum V2’s chances of success.
In addition to Rene and Chris, BitMEX also supports Bitcoin Core maintainer Michael Ford, Gleb Naumenko, developer Utreexo Calvin Kim, and Bitcoin Core developer Sjors Provoost. BitMEX said all six recipients have secured funding until May 2022, when the company will assess the renewals.