What is Bitcoin?

What is Bitcoin?

Bitcoin is an entirely virtual type of money, often known as a cryptocurrency, virtual currency, or digital cash.

It's akin to a digital kind of money. Although it is possible to buy goods and services, few stores accept it, and several nations have outright outlawed it.

Who Funds Bitcoin Core Development?

Square Crypto

Square Crypto is funding a group of developers proposing and executing Bitcoin Core improvements. John Atack, Vasil Dimo, and Gloria Zhao are among the Bitcoin Core engineers who have been funded by Square crypto. On the other hand, Matt Carlo is a full-time employee of Square Crypto.


In addition to the Bitcoin developers on its regular staff, the platform gives funding to freelance Bitcoin developers. Pieter Wuille, Alex Morcos, Suhas Daftuar, John Newbury, Russ Yanofsky, Marco Falke, and Carl Dong are among the significant Bitcoin Core engineers who have received funding from this group.


Another crypto development research group, the MIT Media Lab's Digital Currency Initiative (MIT DCI), offers funding to external developers in addition to its committed staff of Bitcoin Core developers. On the other hand, MIT DCI relies on contributions to raise money, unlike other Bitcoin development sponsors. Wladimir van der Laan and Cory Fields are two Bitcoin Core engineers affiliated with this group.


Blockstream is a VC-backed blockchain technology startup founded by Gregory Maxwell, Jorge Timón, Matt Corallo, Pieter Wuille, and Mark Friedenbach, all working on Bitcoin Core. Its primary objective is to create a Bitcoin sidechain that allows for interoperable transactions. A committed Bitcoin Core engineer, Andrew Chow, is currently employed at Blockstream.


Gemini, a cryptocurrency exchange, has started sponsoring Bitcoin Core developers as part of its commitment to maintaining a healthy Bitcoin network. Dhruv Mehta, Amiti Uttarwar, and Jarol Rodriguez are recipients of its grants.


Coinbase has just jumped on board, announcing the launch of its own Bitcoin Core development award program. Joo Barbosa and 0xB10C, a pseudonymous developer, are the first two beneficiaries of its grants.


BitMEX is another exchange that has aided in the development of Bitcoin Core by offering resources to developers. Michael Ford, one of the most prominent personalities in the Bitcoin Core development community, is presently being sponsored.

Hardcore Fund

Hardcore Funds, like MIT DCI, accepts donations and distributes them to blockchain engineers. Luke Dashjr and Ben Woosley, two Bitcoin Core engineers, are now supported by the fund.

Other Notable Mentions

Cardcoins, OKCoin, and Paradigm Funds, and the firms mentioned earlier have contributed financing and resources to Bitcoin developers. Anthony Towns, Hennadii Stepanov, and Marco Falke are among the Bitcoin Core engineers associated with these firms. It's also worth noting that Samuel Dobson, a Bitcoin Core maintainer, is claimed to be sponsored by John Pfeffer, the co-founder of Pfeffer Capital.