Jack Dorsey’s Square Crypto to Support Bitcoin Developers With New Grants

News / 05.03.2020

Square Crypto, the Bitcoin development initiative launched by Jack Dorsey’s fintech firm Square, Inc. revealed in a Medium post that it had awarded new grants to 2 BTC developers, and called on more developers to contact them about potential grants.

The startup has awarded new grants to Jon Atack, a Bitcoin Core contributor and protocol researcher, and to Tankred Hase, a BTC developer working on enhancing user experience and ways to simplify self-custody of smaller amounts of BTC.

The just-released grants will enable the developers to work on the top cryptocurrency and its layer-two scaling solution, the Lightning Network. In the Medium post, Square Crypto also called on other developers to reach out if they don’t have the financial means to build financial freedom for others.

The fintech powerhouse also noted that grants can be issued to a team or individual working on Bitcoin-related projects and that applicants can work from anywhere.

Proposals they should work on include improving Bitcoin’s user experience, scaling, privacy, security, and much more. The projects should, however, be free and open-source without a commercial or profit motive.

Square Working on Lightning Development Kit (LDK)

Square Crypto had earlier in January also revealed it’s working on a Lightning Development Kit (LDK) that will make it easier for developers of crypto wallets to integrate the layer-two scaling solution into them.

Fundamentally, LDK will make the integration of the Lightning Network into existing or new crypto software much easier, therefore boosting the adoption of the scaling solution. 

The release of the LDK came at a very good time, with the Lightning Network once again entering the minds of Bitcoin and cryptocurrency enthusiasts.

With Square Crypto’s new Lightning Network kit, Bitcoin scaling solution could see a micro-renaissance, helping to boost the adoption of crypto across the globe. 

Will Square Crypto Boost BTC Construction?

Square, Inc. is pushing ahead with extra crypto integrations, having bought a patent for real-time crypto-to-fiat swaps in January of this year. 

Additionally, the company is actively supporting BTC construction via projects such as the just-released grant for developers and the Lightning development kit.

Square Crypto has, in the past, provided a $100,000 grant to the BTCPay Foundation, a non-profit organization running BTCPayServer, and a grant to the pseudonymous Lightning Network developer ZmnSCPxj, who had until then been working on the layer-two scaling solution part-time.

Jack Dorsey, the CEO of both Square and Twitter, has always shown his preference for BTC, and his company is dedicated to Bitcoin-specific development in a bid to make the broader crypto ecosystem better.

Featured image courtesy of Shutterstock. Source: Cryptopress.

Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.