BitMEX Research Division Presented Data On Bitcoin Developer Funding

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • A research division of the BitMEX crypto derivatives market has accumulated a list of the main organizations that finance the development of Bitcoin and the Lightning Network.
  • The largest developers in the industries according to the list are Blockstream and Lightning Labs.
  • As per the Analyst, though Chaincode Labs is in the top in terms of supporting Bitcoin Core Developers.

A research division of the BitMEX crypto derivatives market has accumulated a list of the main organizations that finance the development of Bitcoin and the Lightning Network.

The data is based on publicly available information and communicating with certain individuals. The below-mentioned charts indicate the most inclusive detail of open-source Bitcoin developer funding offered to date.

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Blockstream and Lightning Labs are the largest developers in the industry

The largest developers in the industries according to the list are Blockstream and Lightning Labs. As per the analyst, presently, the situation regarding transparency of financing and the degree of distribution of promoters is much advanced than the past.

The below-mentioned second chart explains about the financing of Bitcoin Core developers in brief. The Analyst found 33 dynamic contributors in the venture and then attempted to set up the current source of funding for each.

As per the Analyst, the funding situation can be improved

As per the Analyst, though Chaincode Labs is at the top in terms of supporting Bitcoin Core Developers, the funding is more distributed than comparing to the past, especially equate between the periods 2012-2014. That time, the sponsor was only the Bitcoin Foundation.

However, the funding situation can be improved, the data shows that the system is sensibly robust with respect to developer funding, based on the metrics such as the supply of funders and transparency.

The most hopeful scenario is the recent emergence of BitMEX, BTSE, and OkCoin. For the group of donors, it brings much desirable variety by potentially improving the level of sustainability.  These exchanges are exclusive entities that are funding developers out of reserved earnings, apart from using donations or venture capital funds.

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