Square Crypto – a payment company initiated by Twitter founder Jack Dorsey, has officially supported Bitcoin (BTC) development through a sponsorship program. This has formalized the important contributions made by the company to cryptocurrencies.
Through a news On March 4, the company announced that the Square Grants program would be announced publicly. The two developers who received funding were: BTCPayServer – received $ 100,000 to continue developing the open source payment processor, and an anonymous developer received an undisclosed amount of money in connection with the development. Lightning Network.
With this announcement, Square revealed that it had also sponsored the undisclosed amount to Jon Atack and Tankred Hase – two Bitcoin developers who had previously done important space tasks.
How to apply for funding
Square has set out conditions to participate in the public program. The rules state that grants can be distributed to a team or individual around the world, as long as they work on a Bitcoin project.
Ideas must improve Bitcoin's user experience, scaling, privacy, security or “something we haven't thought of,” Square wrote. Developers must also have a “good name” in the Bitcoin community.
The team has listed a number of examples of valid projects, cited a new two-layer solution, implemented privacy like Payjoin or SNICKER, new wallets and some other projects.
Applicants should email Square and write a detailed idea of the idea. “We will get back to you if that excites us and meets the criteria,” the notice said.
Square's previous job
Square is a payment company led by Jack Dorsey – CEO of social networking giant Twitter, and it offers many products in the payment ecosystem.
One of them is the Cash App – a financial product for consumers focused on Bitcoin. In February, the company revealed that nearly half of its revenue came from cryptocurrency users. This application allows users to buy BTC in small quantities, the average user only trading $ 7.5 per month.
Square is pushing for more integration than other cryptocurrencies, and it has also received a patent for real-time crypto-to-fiat swaps in January. extreme support for Bitcoin development through initiatives like the Lightning Development Kit.
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According to CoinTelegraph
Translated by ToiYeuBitcoin