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BitMEX Research, the research wing of Bitcoin exchange, BitMEX, pulled out a report mentioning who is funding the development of the open source software behind Bitcoin.
On 28th March 28, BitMEX Research published a report specifying that blockchain firms Lightning Labs and Blockstream are the prime contributors to Bitcoin Protocol development. The report further mentioned that Bitcoin research firm, Chaincode Labs, is the principal financial supporter of Bitcoin Core software development. The report mentions:
“We conclude that the situation is more healthy than it has been in the past, with respect to the availability of finance, transparency, and the degree of distribution among financial backers.”
It is to be noted that BitMEX researchers used publicly obtainable figures and data attained from the people involved to make what they trust is the most wide-ranging representation of open source Bitcoin developer funding.
As per the data, Lightning Labs and Blockstream both have engaged eight software developers to work on Bitcon. It is closely followed by Square Crypto which employs seven developers. Apart from that, MIT’s Digital Currency Initiative has hired six developers devoted to Bitcoin, as does Purse and Chaincode.
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