SAN FRANCISCO, Jan. 18, 2023 (GLOBE NEWSWIRE) — Okcoin, one of the world’s largest and fastest growing cryptocurrency platforms, along with crypto investment firm Paradigm, announced today that the companies are partnering for Bitcoin Core maintainer Marco Falke . Falke — who is one of Bitcoin’s most active developers and has made more custom changes to the network’s code to date than anyone — will use the money to work full-time on Bitcoin’s software for the sixth straight year.
Falcon is one of six people in the world who can approve or reject proposed changes to the code underlying the world’s largest cryptocurrency. As maintainer of Bitcoin Core, he reviews proposed code additions to the network of contributors, of which over 400 are currently active. The Okcoin and Paradigm grant is intended to provide Falke with a decent income while he devotes more than 40 hours a week to developing Bitcoin Core – a non-salaried job given Bitcoin’s decentralized structure.
“Marco’s work is integral to Bitcoin’s success, and Okcoin is pleased to support him for a third consecutive year, this time in partnership with Paradigm,” said Okcoin COO Jason Lau. “There are currently around 30 million active bitcoin addresses, and each one relies on the network to function properly. Marco’s code maintenance has helped make Bitcoin’s network more secure and scalable, and we look forward to his continued positive impact.”
“Paradigm believes it is our responsibility to help fund independent Bitcoin research and development,” said Paradigm co-founder Matt Huang. “Since our initial Bitcoin development funding, we have sought to support the most prolific builders working to keep Bitcoin Core running. We are pleased to award a scholarship to Marco, who will continue to advance the network with his work.”
Although millions of people have invested in Bitcoin, only a small percentage are aware that the people who maintain and improve Bitcoin’s code are not paid by default. A 2021 study conducted by Okcoin found that 80% of individual Bitcoin investors were unaware that the only payment the network’s developers receive is what they secure through grants, crowdfunding, or other means.
Both Okcoin and Paradigm have pledged to contribute funding to the development of Bitcoin Core and to encourage increased support from the Bitcoin community. The terms of Marco Falke’s scholarship from Okcoin and Paradigm give him the freedom to choose which area of Bitcoin Core he works on, and the funding is a non-exclusive agreement.
To learn more about Okcoin’s developer grants, visit developergrant.okcoin.com.
About Okcoin
Founded in 2013, Okcoin is a US-headquartered cryptocurrency exchange serving more than 190 countries and territories. The platform allows retail and institutional investors to buy more than 50 digital assets in local currencies with a mission to make crypto easy for everyone, including first-time buyers. Okcoin was the first centralized exchange to offer a 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 for asset managers, venture capital and hedge funds, retail brokers, payment processors, and more. Follow Okcoin on Twitter at @Okcoin and visit okcoin.com for more information.
About paradigm
Paradigm supports disruptive crypto/Web3 companies and protocols with as little as $1M and over $100M.
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