Coinbase revealed who will receive Crypto Community Fund grants

Written by: Ali Raza
December 23, 2020
  • Coinbase recently announced who will receive funding for Bitcoin network development.
  • One of the developers chosen by the exchange is 0xB10C, who works on a software fork visualizer.
  • Another is Joao Barbosa, known for his work in BTC code reviewing and simplification of Bitcoin Core UI.

US crypto exchange, Coinbase, just announced who will be the recipients of its Crypto Community Fund grants. The grants are given to Bitcoin developers who can contribute the most to the advancement of the coin’s underlying technology.

Who won the grants?

Originally announced in October of this year, the grants are set to reward those with the best ideas for improving Bitcoin’s blockchain. The exchange’s advisory board reviewed multiple developers and their work, and it selected several of them to receive monetary incentives.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

The first two developers to receive the grants are Joao Barbosa, and a developer known only as 0xB10C. According to the exchange, 0xB10C — who created mempool.observer — will be working on a software fork visualizer, developed for Bitcoin’s Signet testnet.

This is a tool that will allow users to monitor all updates to Bitcoin’s software. The tool is also expected to be particularly useful for Bitcoin’s Taproot upgrade.

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice, eToro: visit & create account

Barbosa to receive a grant for simplifying Bitcoin Core user interface

The second developer, Barbosa, actually used to receive funding from Bitmain, a major mining company. However, since that source of income was cut off — for him and others — he will undoubtedly find Coinbase’s grants to be quite helpful for the continuation of his work.

That work revolves around improving the Bitcoin Core UI, as he aims to make it easier for users to access advanced functions. Until now, such functions were only available to those who know how to use command lines.

Barbosa aims to change this and make it more user-friendly. Furthermore, the advisory board is aware and appreciative of his previous work regarding code reviewing.

While very helpful for continued improvement of the Bitcoin (BTC) ecosystem, grants do not provide developers with a steady source of income. The funding can be cut off, as it happened with Bitmain, and many developers end up working either partially funded, or not at all.