Brink Emerges as the Top Funder of Bitcoin Core Development, BitMex Research Says

The nonprofit has funded the highest number of active Bitcoin Core developers and reviewers.

AccessTimeIconOct 27, 2022 at 6:36 p.m. UTC
Updated Oct 27, 2022 at 6:56 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Brink, the nonprofit Bitcoin research and development firm, has emerged as the leading backer of Bitcoin developers and reviewers, according to a presentation by crypto research firm BitMex Research.

Brink has funded more active Bitcoin Core developers and reviewers – eight contributors with at least 10 commits – than any other organization in the past 12 months, BitMex said. On GitHub, commits are snapshots of changes and updates made by developers and are often used to gauge developer activity.

Brink has also funded seven of the top 30 Bitcoin Core reviewers over the same period. Reviewers are developers who review pull requests – proposed software updates waiting to get merged with the main Bitcoin Core project.

Organizations like Brink are critical to the Bitcoin ecosystem. The biggest cryptocurrency by market value is completely volunteer-driven, unlike crowdfunded projects such as Ethereum that receive support from foundations with full-time staff.

“Bitcoin did not have a crowdsale! The protocol should be neutral and there is a need to minimize potential conflicts of interest,” the presentation stated.

BitMex’s charts show an increasingly diverse Bitcoin funding landscape with research firms like Chaincode Labs and FinTech companies like Block (formerly Square) also making significant contributions to Bitcoin Core development.

Brink was founded in 2020 with the goal of supporting Bitcoin protocol development. The organization runs a year-long fellowship program as well as a developer grant program. Brink co-founder and Executive Director Mike Schmidt is also a key contributor to the popular Bitcoin Optech weekly newsletter.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Frederick  Munawa

Frederick Munawa was a Technology Reporter for Coindesk. He covered blockchain protocols with a specific focus on bitcoin and bitcoin-adjacent networks.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.