CoinDesk - Unknown

BREAKDOWN: The Unsolved Mystery of How to Fund Public Protocols

Gitcoin, BCash, and Zcash all try different paths to fund public protocol development plus the latest in CBDCs from Japan and Cambodia and Andrew Yang on crypto.

January 30, 2020

The best way to fund open source projects remains a question, and one that - in the context of crypto protocols - has never had higher stakes. Over the last few weeks, we’ve seen live action experiments in a number of different approaches.

Gitcoin grants used a quadratic funding program to match grants to technology builders and media creators in Ethereum

After months and months of concerted community debate and conversation, Zcash will implement a new Dev Fund of 20% of the block rewards after the Founders Reward runs out in November, splitting it between the Electric Coin Co (7%), Zcash Foundation (5%) and 3rd party developers (8%)

A consortium (cartel?) of the 4 largest BCH mining pools tried to insist upon a 12.5% block reward diversion to a new dev fund, with a threat to orphan blocks that didn’t comply. The plan ran into a barrier when Roger Ver’s backed away.

Also in this episode, @nlw looks at the latest in CBDCs - including Japan’s continued hedging that they’re preparing for the possibility of needing to move quickly and Cambodia’s announcement that they will be implementing a CBDC this quarter.

Finally, Andrew Yang took a few minutes yesterday to talk about cryptocurrencies and why regulation with the intent to stop them would be doomed to fail.