Okcoin and Paradigm have awarded a joint grant to Open Source Bitcoin Core maintainer Marco Falke.
With this grant, Okcoin and Paradigm will “provide Falke with a livable income as he works on this open-source, decentralized project.” This is the third consecutive year that Okcoin and Paradigm have “awarded Falke this grant, demonstrating a long-term commitment to Falke, Bitcoin, and crypto development.”
Although Bitcoin has millions of global investors, its decentralized structure means that Bitcoin Core contributors like Falke “aren’t salaried for their work and rely on grants and donations to compensate them for their prodigious efforts.”
Okcoin has now “invested more than $1,500,000 in Bitcoin open source development through our developer grant program.”
All of their grants are:
- Open source – Anyone can read, fork, and build on Bitcoin developers’ code
No strings attached – Grant recipients do no work for Okcoin and devote their full efforts to open source development.
- An investment, not a donation – We make these grants as investments in Bitcoin’s future.
As a crypto exchange, Okcoin aims “to make crypto accessible to everyone, everywhere.”
Open source development of the Bitcoin network is “critical to the growth of the entire crypto ecosystem, and therefore, to our mission.” Their grant recipients further that goal “by developing and maintaining sustainable and responsible cryptocurrency infrastructure.”
Despite millions of people worldwide having invested in Bitcoin, Okcoin found in a 2021 study that 80% of retail investors “don’t know that Bitcoin contributors receive no salary and rely on crowdfunding, donations, and grants.”
Okcoin COO Jason Lau said:
“The work Marco does is integral to the success of Bitcoin and Okcoin is thrilled to support him for a third consecutive year, this time in partnership with Paradigm. Over 30 million Bitcoin wallet addresses exist, and each one relies on the network functioning properly. Marco’s code maintenance has helped make Bitcoin’s network more secure and scalable, and we look forward to his continued positive impact.”
As one of Bitcoin Core’s most prolific developers, Falke is “one of the six people in the world with the ability to approve or deny proposed changes to the code underlying the world’s biggest cryptocurrency.”
The role of a Core maintainer is “to ensure that contributions from developers are in line with the Bitcoin community’s protocol improvement requirements.”
This includes things like “reviewing new and existing contributions to ensure continuity, automating stress tests to find security vulnerabilities, modularizing Bitcoin code to help developers review specific chunks, and much more to help ensure the Bitcoin Core code remains healthy and secure.”
Founded in 2013, Okcoin is “a US-headquartered cryptocurrency exchange serving 190+ countries and territories.”
The platform “enables retail and institutional investors to purchase 50+ digital assets using local currencies, with a mission to make crypto easy for everyone including first-time buyers.”
Okcoin was “the first centralized exchange to offer direct entry into decentralized finance (DeFi) with Earn, a tool for earning APY through decentralized lending, liquidity pools, staking, and more.”
In addition, Okcoin offers institutional trading tools and APIs “to asset managers, venture capital and hedge funds, retail brokers, payment processors, and more.”