For the users of Bitcoin, the increased usage has been much beneficial. The company has also got some more benefits, which can also be useful to the users. For the development of infrastructure, the virtual currency also has got some sponsorships, which were much needed. Open source development got a big boost this year as various organizations have generously contributed grants and sponsorships for such programs. OKCoin supports such an open-source community, and it has enabled many organizations to sponsor the development of infrastructure in the crypto industry.
Marco Falke, which is a core maintainer for Bitcoin, got the award as the most active contributor to the Bitcoin code. Apart from that, others like BTCPay, Fabian Jahr, and Amiti Uttarwar also got grants and sponsorships.
Developing trends in crypto infrastructure
Even as the coronavirus pandemic continues to affect the global economy, the crypto industry is doing well this year. There are many flaws in the traditional economic system as the stock markets continue to rise even when the economy is headed lower. The federal reserve is increasing the money supply to counter such problems. Given these circumstances, it is the right time to push BTC as an alternate sound currency.
Growth in FOSS sponsorship
The interest about open source development is increasing in all corners, and this is a good trend for the crypto industry. In this regard, several organizations collaborated to provide grants for contributors in this industry. The grant to Amiti Uttarwar, who contributed a lot to the peer to peer layer of Bitcoin, was awarded a grant in partnership with BitMEX. This contribution has strengthened the core of Bitcoin and improved the codebase security for all transactions.
There is good growth for the industry, as supporting Bitcoin core with such sponsorships is suitable for the entire industry. It can support other industries in the form of education, validation, and adoption of cryptocurrencies.
It has been a community effort to support and connect with Bitcoin developers, and this has helped the sponsors to gain a lot of knowledge. OKCoin has benefited a lot from Chaincode and Square Crypto, and this has helped the initiative.
Even though all the grants are not given through partnership, this is a collective effort in the long run. OKCoin believes that it is always a healthy trend to build a community sponsorship platform for FOSS development in the future.