Brink Aims to Attract Top Bitcoin Developers

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In Brief
  • Early Bitcoin developers have created grants and mentorships to attract developers to the protocol.

  • They site the open-source and free nature of BTC as a reason why it needs extra support.

  • The grants appear to be funded only by donations, yet claim they offer a competitive salary.

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With Ethereum 2.0’s launch just around the corner, Bitcoin-lovers and their maximalists are finding new ways to stay relevant.

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.

Founders

The main funders of the project, John Pfeffer and Wences Casares, are entrepreneurs who have benefited from the rise of Crypto.

Casares is CEO of Xapo Bank, a company that provides crypto wallets and cold storage to enterprises. The Argentinian also sits on the board of PayPal and Facebook’s Libra cryptocurrency.

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. 

Blockchain developer salaries chart | Source: Ziprecruiter

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.

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Harry Leeds is a writer, editor, and journalist who spent much time in the former USSR covering food, cryptocurrencies, and healthcare. He also translates poetry and edits the literary magazine mumbermag.me.

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