The Massachusetts Institute of Technology (MIT) launched a proposal aimed at making Bitcoin a stronger, safer and more robust system, and several institutional investment giants are supporting the initiative, to be developed over the next 4 years.
People like Michael Saylor, Jack Dorsey and the Winklevoss brothers are supporting the Digital Currency Initiative (DCI), a research community driven by Massachusetts Institute of Technology (MIT), which seeks to make Bitcoin (BTC), the decentralized monetary system and cryptocurrency strongest, most powerful and powerful in the world, uniting the talent of dozens of developers to guarantee its growth and strengthening in the future. Also, the organization has revealed its plans to make Bitcoin the most secure decentralized network of all, so it will implement a plan called «Bitcoin Software and Security Effort», with which the network defenses will be guaranteed.
In its 12 years of life and history, Bitcoin has demonstrated all the power that decentralization encompasses, maintaining practically uninterrupted operation throughout all this time, without having a single or central point of failure. Thousands of nodes around the world are what keep Bitcoin operational, and also the work invested by dozens of developers who have dedicated millions of hours of work and effort to making Bitcoin the robust and decentralized network that it is today.
To maintain this power, MIT proposes to expand the human talent present in Bitcoin, as well as create improvements focused on the optimization of its code, formulate new innovative tools that enhance its power and build defenses that guarantee the security and stability of Bitcoin against future threats.
As MIT explains, Bitcoin ceased to be, long ago, a dark and little-known network in the world, to become a reserve system of value where millions of people and dozens of companies and corporations are placing their trust day after day. Bitcoin is now a “open source financial network that ensures value in the order of $1B”, noted MIT, alluding to the fact that the market capitalization of this powerful cryptocurrency recently exceeded $880.000 trillion. Although at the time of this edition the current capitalization of Bitcoin is around XNUMX billion, it has been the first cryptocurrency on the market to break this milestone, and analysts assure that it will soon reach above this level again.
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$4 million in donations
The proposal presented by the DCI has already raised $4 million from donors, sponsors and other supporters of the proposal, although its initial goal is to raise close to $8 million. The main contributors to this cause have been Michael saylor, CEO of MicroStrategy and Jack Dorsey, CEO of Twitter and Square, two of the most important institutional investors in Bitcoin; also appear Cameron y Tyler Winklevoss, founders of Gemini; Jean-Marie Mognetti, CEO of CoinShares, and the corporate investment management company in cryptocurrencies and digital assets, Fidelity Digital Assets.
All of these high-profile actors and participants in the digital industry have played and play an important role in the development, consolidation and maturity of Bitcoin, which is why they claim to be committed to its future, and will support and finance independent research and development. open source network.
CoinShares made a total contribution of $500.000 to secure the Bitcoin protocol for the long term, while the founders of Gemini will make a donation of 1 million dollars, which will be delivered in equal parts each year; that is, $250.000 annually for 4 years. The cryptocurrency exchange is also supporting other initiatives that are doing independent work for the benefit of Bitcoin, such as the Bitcoin Development Fund from the Human Rights Foundation that will fund several developers focused on improving network privacy, as Brink, the scholarship program for developers who want to contribute to the growth and strengthening of the network.
On the other hand, Michael Saylor has not revealed how much the investment he will make in favor of the MIT DCI, although he did indicate on his Twitter account that it is an initiative that has his full support.
At the time of this publication, Jack Dorsey has also not revealed the amount he is going to donate to this initiative for Bitcoin.
For the security of Bitcoin
The MIT DCI notes that the funds received from donations will be used to support the open source development of Bitcoin, and promote the security of the protocol at all times.
With this initiative, the organized community seeks to include funding to expand the Bitcoin research and development team, and form a growing working group of specialized open source developers, who focus on mitigating systemic threats and implementing improvements. rigorous in the underlying infrastructure of Bitcoin; as well as including Bitcoin Core code audit programs, increasing automation, and novel research into the long-term economic security of Bitcoin.
In its proposal, the institute stated that “The security of Bitcoin is fundamental to the continued evolution of the underlying technology, as well as to fulfilling the public good promise of cryptocurrencies”. The MIT DCI has been committed, since 2015, to continuing to strengthen the Bitcoin network and maintaining the commitment, with the industry and the crypto community, to finance the development of open source software for this network.
As MIT explained, these types of plans and initiatives ensure the future and prevalence of the Bitcoin network, so that it continues on its path of success, and continues to integrate deeply into our societies and our daily lives. Saylor predicts that by 2025 at least 1.000 billion people will own Bitcoin.
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