Crypto News

Independent bitcoin developer will receive a grant in the amount of $150,000 from BitMEX and OKCoin

HDR Global, the parent company of crypto currency exchange BitMEX, and OKCoin has provided a grant in the amount of $150,000 for the independent bitcoin razrabotchitsy Amiti Uttarwar.

This is the first case when two competing stock exchanges have teamed up to jointly Fund development of bitcoin.

Both companies in the past financed the developers separately. In 2020, OKCoin has provided grants to Fabian Jar and server BTCPay ($100 000). HDR also recently provided grants to MIT DCI, Bitcoin Core developer Michael Ford ($150 000) and the developer Gleb Naumenko ($100 000).

Step was the recognition that much of the blockchain industry is built on OpenSearch developments, and both of the exchange independently from each other decided that the work of Uttarwar had a significant impact for the development of a network of bitcoin.

Director of public relations OKCoin said:

“We independently from each other came up with the idea of funding the work of Amiti in our mission to support OpenSearch bitcoin developments. Amiti told us that both our companies strive to maintain it, and then we decided to combine our efforts. It happened quite organically.”

Passion for bitcoin

Amiti Uttarwar previously worked in the companies Coinbase, and Xapo. She explained that her first and foremost have a passion for bitcoin, which can make a lot of good for the future of humanity.

Works Amiti associated with p2p-level bitcoin and in particular how nodes reveal confidential information. OKCoin CEO Hong Fang explained:

“The work of Amiti focused on the critical components of the Bitcoin Core; it makes the codebase more secure to send transactions that also match the vision of Satoshi on a secure and private electronic P2P cash.”

Fang also noted that support independent developers of bitcoin can provide him with long term success.

For its part, Amiti Uttarwar stated that it will continue to work with the p2p of bitcoin level, and the grant, which will be paid monthly during the year, will be very handy to maintain its activities. Amiti also said will do everything possible to bitcoin was “more secure, private and clear”.


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