Bitcoin trading platform Bitmex has announced two new open source bitcoin developer grants to Renেনে Pickhard and Chris Coverdale to mark the completion of the company’s 2021 grant program. Renেনে and Chris each received an eight-month grant of, 33,333 through May 2022, which would be equivalent to 50,000 annually. According to the announcement, this interim fund is designed to help aspiring developers develop bitcoin full-time.
“The addition of Renee Pickhard and Chris Coverdale to the Open Source Bitcoin Developer Grant Program makes it a total of six open source developers,” said Alex Haptner, CEO of Bitmax. “We are proud of our long-term commitment to Bitcoin and open source technology. We are delighted to welcome Renee and Chris to the program and will continue to support the development of Bitcoin in the years to come.”
Rini Lightning will work to improve the reliability of the payment process in the network. In March, he published a potential path-finding paper, which became the basis of his follow-up work on the optimally reliable and cheap payment flows submitted in July. Renেনে wants to implement his new path-finding algorithm. “Picard payment“As a library that can be leveraged by service providers on nodes, wallets and lightning networks. Bitmax’s grant will allow Renee to further develop its optimal payment flow algorithm and work on various follow-up questions in his research paper.
Chris, on the other hand, will focus on bitcoin mining. Developer Stratum V2 will work to create an implementation of the Bitcoin Mining Pool protocol, which he has been working on since February. The protocol allows end miners to select transaction and contract blocks, but instead of providing these choices to the mining pool operator, improves data transfer efficiency and resists bitcoin censorship. Slash Pools / Brains are also working to implement that protocol. Nevertheless, the Bitmax grant seeks to empower Chris in his independent implementation as well as improve the chances of success of the Stratum V2.
In addition to Rini and Chris, Bitmax also supports Bitcoin Core maintainer Michael Ford, Gleb Nomenko, Utrexco developer Calvin Kim and Bitcoin Core developer Sjors Prabhust. Bitmax shared that all six grantees have secured funds until May 2022, when the company will evaluate the renewal.