BrinkA non-profit organization focused on open source funding Bitcoin development The annual report published by the organization details over one million dollars in donations made to Bitcoin developers between 2023 and now. It was founded in 2020 by renowned Bitcoin developers John Newbery and Mike Schmidt, aims to provide financial support and mentorship to promising developers working on open-source Bitcoin development.
Brink’s report on its fourth anniversary revealed that it had received $2.4 million from more than 500 donors last year, including Jack Dorsey. StartSmall Initiative as a major contributor.
Brink’s costs totaled around $1.6million in 2023. More than $1.2 million was spent on developer salaries and grant money, which allowed them to concentrate their efforts. Bitcoin protocol improvements.
Brink and other organizations help fund the work necessary to improve Bitcoin because developers maintain its code voluntarily. Many believe more full-time Bitcoin developers will lead to a stronger Bitcoin network.
The report highlighted the achievements made by Brink’s sponsored developers. These included code review, enhancements to security, upgrading research, and infrastructure for testing.
Brink’s annual report provides transparency on how it allocates funding for the Bitcoin developer community. Disclosure of expenditures and the engineering progress validates Brink’s contribution to Bitcoin being a decentralized, open-source project.
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Source: bitcoinmagazine.com
