Maxwell, along with several others, founded Blockstream 2014 to build financial infrastructure and applications based upon bitcoin. In 2014, Blockstream raised $21 million to help push forward bitcoin’s development and to work on ‘sidechains’ that could facilitate the transfer and exchange of assets from bitcoin to other blockchains, and could also help bitcoin scale its transaction capacity.
However, Blockstream has historically been a contentious organization within the crypto community. Some in the community have asserted that Blockstream is a threat to bitcoin’s decentralized nature, while others praise it as a necessary given that bitcoin’s core technology has historically suffered from a lack of well-funded developers.
Maxwell departed Blockstream in 2018 to focus on code developing bitcoin smart contracts.
Maxwell image via Lwn.net
Authored by John Metais
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.