Dearth of Devs
Aside from BTC flirting with all-time highs, there may be a new boon for Bitcoin lovers.
Some gurus from the early days of Bitcoin have created “brink,” a series of scholarships and grants aimed to attract the best of the best to Bitcoin.
Brink exists, according to its website, to strengthen the Bitcoin protocol through research and development. As with so many things crypto, the money comes via community funding.
Not only are there fellowships and scholarships for new developers entering the Bitcoin team, but the founders also plan to mentor newcomers to crypto.
The main funders of the project, John Pfeffer and Wences Casares, are entrepreneurs who have benefited from the rise of Crypto.
In 2018, Pfeffer said on CNBC’s “Fast Money” that Bitcoin should see a price of $90,000. He based this on the proportional valuations of gold bullion. If it became a major reserve currency, he said, it could reach several hundred thousand.
The probability was low, he said, but he was treating his investment like a venture capitalist: high risk, high reward. He also penned a well-known letter making the case for bitcoin investment.
The Fellowship of the BitRing
The project hopes to improve the quality of Bitcoin development through these grants.
Mentors include John Newberry, who spent four years developing Bitcoin core. He also has experience with a similar program, the Chain Code residency.
Fellows will spend a year working alongside Newberry and other, unnamed developers. While spending their training on development, the fellows will also receive a “competitive” salary and full benefits.
Being a grantee, on the other hand, is about giving back. The purpose of the grant is to encourage veteran Bitcoin protocols developers to work on free, open source projects.
By offering a sizable grant, brink says it can keep the freedom of Bitcoin without monetary special interests. The grantees will concentrate on, what else, stability and security.
The entire project is run by donations. At a time when developers can have their pick of well-paid jobs in the blockchain space, brink may ensure that Bitcoin keeps up with the times.