“Excited to be supporting more Bitcoin protocol development. This is a great start, but hopefully, we can expand this program over time,” said Coinbase CEO Brian Armstrong as the exchange announced that it is sponsoring Bitcoin developers who contribute directly to the Bitcoin Core codebase or closely associated Bitcoin projects.
Coinbase has already begun its search for at least two Bitcoin development grant recipients from anywhere in the world.
“Bitcoin launched without a fundraise, while bootstrapping an entire industry, and the open-source community has provided critical support for Bitcoin development.
Our goal is to similarly support developers who are committed to growing and maintaining the Bitcoin ecosystem.”
This is yet another step from Coinbase to grow the crypto-economy, which is essential to building the open financial system.
The Crypto Community Fund aims to improve the entire crypto industry. Although it started with the leading digital currency, the company intends to expand the program to other projects if successful.
Interested people can start applying for the grant, which will be shortlisted by current Bitcoin Core developers and community members, with Coinbase making the final decision.
While the focus is on one-year-long developer grants, shorter projects are also encouraged.
Coinbase is looking to support the likes of those projects that contribute directly to Bitcoin core, Bitcoin Improvement Proposal (BIP) review, contributor tooling, Bitcoin Core libraries, and tools, or improvement to testing.