- Both Coverdale and Pickhardt will receive eight-month grants, with funding lasting until next May. The grants are worth $33,333 each.
- BitMEX’s announcement of the grant awards describes its developer grant program as “interim funding” meant to help part-time developers make the transition out of employment or education into full-time development work.
- BitMEX is one of several crypto companies, including Gemini, Marathon Digital Holdings, OKCoin and Square, to fund Bitcoin developers.
- Coverdale’s work will focus on building an implementation of the Stratum V2 bitcoin mining pool protocol, which he has been working on since February.
- Pickhardt, a former member of the German Pirate Party, will focus his development work on improving the Lightning Network, a layer 2 payment protocol built on top of Bitcoin.
- With the addition of Coverdale and Pickhardt, BitMEX is now supporting six Bitcoin developers, including Michael Ford, Calvin Kim and Sjors Provoost. Over the past two years, BitMEX has handed out at total of $1.5 million in open-source development grants.
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.