200 Interactions, 6 today
Calvin Kim, a Korean-based Bitcoin scaling researcher, has received a $150,000 grant from BitMEX in collaboration with the non-profit Human Rights Foundation.
A popular cryptocurrency derivatives exchange Calvin Kim, a Korean-based Bitcoin scaling researcher, has been awarded a $150,000 grant by BitMEX.
The donation is the second time BitMEX has supported Kim’s study, with the exchange contributing $30,000 to Kim in August 2020.
Kim intends to include Utreexo into Bitcoin installations utilising the Go and Rust programming languages, while also focusing on “improving the initial block download time in Bitcoin.”
Kim has been working on Utreexo, a Bitcoin scaling solution and hash accumulator, since mid-2019, with the protocol’s architecture initially presented by MIT Digital Currency Initiative researcher Thaddeus Dryja — who also co-authored the Lightning Network whitepaper.
The new grant was issued by BitMEX in collaboration with the non-profit Human Rights Foundation, or HRF — an organization that supports human rights activism globally — with the HRF contributing $50,000 on top of BitMEX’s $100,000 one-year grant for Kim. The researcher stated:
“This year, with the financial support of BitMEX and the Human Rights Foundation, I intend to continue what I was doing last year and continue moving the Utreexo project to something a user can download and use.”
The Human Rights Foundation stated in a May 31 release issued by BitMEX’s research section that it has long “worked to promote human rights on the Korean peninsula through technology,” and that it intends to encourage others in the region to get engaged with Bitcoin.
“It is exciting for HRF to have the opportunity to bolster Calvin’s efforts and we hope that his work can inspire others from the region to get involved with Bitcoin and contribute to its mission to provide open-source freedom money for the world,” HRF said.
According to the organization’s website, the HRF support Bitcoin because it “can be a tool of freedom for human rights defenders facing hyperinflation or financial surveillance.”
The HRF’s $50,000 award to Kim is part of the organization’s $210,000 Bitcoin Development Fund, which also featured collaborations with the Gemini exchange and Square Crypto to promote developer Dhruv Mehta.
Mehta was awarded $50,000 to work on enhancing Bitcoin’s censorship resilience using BIP324 — a peer-to-peer message transit protocol designed to protect Bitcoin peers against man-in-the-middle assaults on seed nodes.
Nur Khalil, a Nigerian Bitcoin developer who creates Bitcoin wallet software for the Nigerian market, received $50,000 from the fund as well.