• Compass Mining Contributes $80,000 to Bitcoin Core Developer

  • Compass Mining, a Bitcoin mining hardware marketplace, announced today that it will donate $80,000 to Bitcoin Core developer Jon Atack over the course of a year. The donation is made possible by the Human Rights Foundation (HRF).

    “As one of the largest and fastest-growing retail-focused Bitcoin mining companies, we believe it is critical for Compass to support the development of the protocol upon which our entire industry is built,” said Whit Gibbs, CEO of Compass Mining, in a prepared statement.

    He went on to say that developers like Atack are critical to Bitcoin’s growth and that the cryptocurrency’s development would “noticeably suffer” without them. “Our team is excited to get to know Jon and support his important work,” he added.

    According to Atack’s website, he was previously invited to join the Bitcoin Core team after 7 months of contributing by November 2019. He also received a Square Crypto developer grant in March 2020, which has since been renewed for 2021.

    Compass Mining sponsors Atack through HRF’s Bitcoin Development Fund, which was established in 2020. The fund is intended to assist software developers who work with Bitcoin.

    Previously, the fund gave Jesse Posner (a Bitcoin developer who previously worked for Coinbase) $25,000 in Bitcoin. Janine Roem has previously received a $10,000 Bitcoin gift to support her Bitcoin privacy newsletter.

    “HRF is thrilled to be collaborating with Compass to support Jon and Bitcoin Core. “Jon has been a vital contributor to the world’s open source money project, and we look forward to assisting in making his work possible this year,” said Alex Gladstein, HRF’s chief strategy officer.

    Why is Bitcoin in need of developers?

    To keep Bitcoin’s codebase up to date, a small team of lead maintainers reviews code submitted by a much larger community of developers.

    If the code passes the test, it is approved and becomes a part of the Bitcoin codebase.

    This approval procedure also introduces a new role for Bitcoin developers: arbiters. When reviewing code suggestions, these developers ensure that no new code will corrupt or jeopardize the Bitcoin network’s integrity.

    Though quantum computing, government intervention, and 51 percent attacks are on the list of potential attack vectors, so is careless protocol development.

    Regardless of the stakes, the job can be thankless. However, with third-party support, the incentives to continue building in good faith become even more appealing. At least for the time being.

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