Bitcoin [BTC] was the first cryptocurrency to ever exist. Despite being more than a decade old, the king coin hadn’t given up on its spot as the largest cryptocurrency, in terms of price as well as market cap. Not only did Bitcoin pave the way to an array of other cryptocurrencies, but also formulated an entire industry. The emergence of other crypto assets opened the doors to better use cases and features.
In order to make sure BTC remains on top, a Korean Bitcoin scaling researcher, Calvin Kim went on to roll out Utreexo. Aiding this initiative, prominent cryptocurrency exchange, BitMEX announced its second grant.
Bitcoin scaling solution receives aid from Human Rights Foundation
Back in August 2020, BitMEX revealed that would support Kim’s research by providing him with a grant of $30,000. In the exchange’s recent blog post it was revealed that BitMEX was offering a total of $100,000 once again to support Kim’s research up until June 2022.
The CEO of BitMEX, Alex Höptner addressed the same and noted that the exchange was glad to be funding a Korean developer like Calvin Kim as it emphasizes “Geographic Diversity Of Bitcoin Development.” Elaborating on BitMEX’s latest move, Kim stated,
“I’m incredibly grateful for the financial support that BitMEX has provided me for the past year. Being financially stable has allowed me to focus more attention to furthering research and development of the Utreexo Project. Last year, I focused on prototyping a Utreexo Bitcoin Full Node, moving the project closer to reality from just a research project.”
Additionally, BitMEX went on to partner with the Human Rights Foundation to support Kim. The non-profit platform reportedly offered a lump sum grant of $50,000 to Kim in BTC. The Chief Strategy Officer of the Human Rights Foundation, Alex Gladstein suggested that the Human Rights Foundation intended to make BTC a “more useful and resilient tool of liberty for people across the globe.” He added,
“It is exciting for HRF to have the opportunity to bolster Calvin’s efforts and we hope that his work can inspire others from the region to get involved with Bitcoin and contribute to its mission to provide open-source freedom money for the world.”