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BitMex Awards $40,000 Grant To Developer Addressing Bitcoin Scalability Issues
Summary: BitMex's 100x Group has awarded its last Bitcoin development grant of the year to Utreexo researcher and developer Calvin Kim. The grant is valued at $40,000 and was awarded to Kim based on his instrumental role launching the first demonstration release of Utreexo — a dynamic accumulator for Bitcoin targeted towards addressing the blockchain's scalability issues. The project ...
BitMex's 100x Group has awarded its last Bitcoin development grant of the year to Utreexo researcher and developer Calvin Kim.
The grant is valued at $40,000 and was awarded to Kim based on his instrumental role launching the first demonstration release of Utreexo — a dynamic accumulator for Bitcoin targeted towards addressing the blockchain's scalability issues. The project was started by Tadge Dryja for the MIT Digital Currency Initiative.
On the Bitcoin blockchain user balances are saved as a collection of "unspent transaction outputs" or UTXOs. Utreexo developers believe that UTXO storage space will become a bottleneck. Utreexo attempts to solve the issue by having the owner of the funds store a proof that the funds exist — which is more compact — and share that proof when spending coins.
By Emily Mason
Tags: Bitcoin,BitMEX,BTC
Link: BitMex Awards $40,000 Grant To Developer Addressing Bitcoin Scalability Issues [Copy]
