Brink is a non-profit organization focused on funding Bitcoin developers.
Twitter co-founder and Block CEO Jack Dorsey will make a $5 million donation to Brink via his Smart Small fund to support the development of the decentralized, open-source Bitcoin protocol.
The recently announced donation from Dorsey will go towards strengthening Brink’s grant program, according to the organization’s co-founder Mike Schmidt. In addition to this, Schmidt said that the funds will allow Brink to subsidize new Bitcoin Core developers to continue driving the growth and development of the blockchain.
Currently, the non-profit organization maintains 11 Independent Bitcoin Software Developers and its Lightning Network scalability layer, as reported by this media in September.
Brink will receive the funds donated by Dorsey through Smart Small, at a rate of $1 million per year for 5 years.
Smart Small, a global philanthropic initiative
Smart Small was launched in 2020 primarily to fund global coronavirus (Covid) relief. However, through this fund, Dorsey has allocated $1.400 billion in funding to various projects, in sectors such as education and health, including the crypto industry.
Dorsey is one of the most consistent Bitcoin advocates. In 2021, he reaffirmed himself as a cryptocurrency maximalist, stating that there is nothing more important in his life than working on developing the Bitcoin code. Recently, in a podcast on Breaking Points, Dorsey manifested that “open source technology like Nostr and Bitcoin are the most important way to protect freedom.”
What is Brink?
Brink is a non-profit organization that was established in 2020 to support independent Bitcoin and Lightning Network developers through funding and grants. The organization is supported by the Human Rights Foundation, which also provides support to Bitcoin-related developers and projects.
The organization has raised funds from other companies and projects, including Marathon Digital Holdings, which donated $500.000 to the organization late last month.
Other companies such as Stakwork, BitMEX, Samara Asset Group and even investor Tim Draper have also made significant donations to Brink to support its mission of supporting the development of the Bitcoin ecosystem.
Continue reading: Brink, funding for Bitcoin developers. The faces behind the cryptocurrency's success
Main image from Courrier
