BitMEX, cryptocurrency exchange and derivative trades, announced last Thursday, February 25, a subsidy for the value of USD 100,000 for the Bitcoin developer, Michael Ford. This subsidy is the third that BitMEX gives to Ford for keeping the protocol of the Bitcoin open source project in operation.
The subsidy announced by BitMEX both on its blog and on its Twitter, has in order to support the work on Bitcoin Core by Michael Ford who, according to CriptoNoticias, was named open source maintainer of Bitcoin , a year ago.
The subsidy of USD 100,000 from BitMEX, was added another of $ 18,500 sponsored by the Australian exchange, Independent Reserve , which means that Ford’s work has been rewarded with a total of $ 118,500.
The trust that people have in Bitcoin is backed by its security and stability. Bitcoin Core developers play an integral role in safeguarding that stability. As an Australian exchange we are happy to support a local developer. Michael has an interesting life and a great story about how he found Bitcoin: and his story is a reflection of how Bitcoin touches and enhances the lives of many – regardless of where they are or their past. Without the team of Bitcoin Core developers, Independent Reserve, and the blockchain industry as a whole, they couldn’t be where they are today. So we want to reward you and say thank you for all the great work.
Adrian Przelozny, CEO of Independent Reserve.
Alexander Höptner, CEO of BitMEX clarified within the blog post, that the subsidy granted to Ford has no conditions. That is, the developer will have the freedom to invest that money in any project of their choice.
Open Developer Grant rewards those who work with open source
This is not the first subsidy that BitMEX grants to Ford, as Last year, as reported by CriptoNoticias, the exchange had given the developer another USD 100,000 , under the conditions that the money would be used to work on open source projects , relevant to the Bitcoin community .
Previously, in July 2019, when Ford was recently appointed maintainer of Bitcoin Core, BitMEX granted him his first subsidy for USD 60,000 rewarding his work as a Bitcoin developer, which he had been practicing since 2012.
In total, between the years 2019 , and 2021, Michael Ford has received a total of USD 260,000 from BitMEX.
BitMEX subsidies to Ford, respond to the program of the company Open Developer Gran t, where grants are awarded to developers of Bitcoin, NodeJS, Java and Kurbentes . From time to time, these grants go towards the production of educational materials, technical workshops, transcriptions and translations related to the technologies mentioned above.
Other people and projects that have benefited from BitMEX grants are: Gleb Naumenko, who has also worked on Bitcoin Core, since 2017; Amiti Uttarwar, whose subsidy was reviewed by CriptoNoticias a year ago; Jeremy Rubin, founder of Judica, a Bitcoin lab; Calvin Kim, a contributor to the Utreexo project, which improves the stability of Bitcoin; Alex Hultman, who worked on µWS, a NodeJS project; and finally the MIT DCI initiative, an investigation in the MIT laboratories , focused on blockchain and cryptocurrency technology.