Coinbase co-founder and CEO Brian Armstrong
Coinbase co-founder and CEO Brian Armstrong speaks onstage during Day 3 of TechCrunch Disrupt SF 2018 at Moscone Center on September 7, 2018 in San Francisco, California. Steve Jennings/Getty Images for TechCrunch

On October 15, Coinbase announced that its Crypto Community Fund plans to sponsor two or more Bitcoin developers, who are either actively contributing to the Bitcoin Core codebase or are closely associated with Bitcoin projects.

According to the announcement, the Crypto Community fund will aim to grow and improve the entire blockchain industry in order to support the building of an open financial world system.

Coinbase stated that, while Bitcoin first launched without a fundraiser, the crypto community has managed to provide the financial assistance needed for its development. The company’s goal will be to similarly support developers committed to sustaining the Bitcoin ecosystem by providing the required funding for their potential success.

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Candidates that want to apply as a Bitcoin core developer will have to fill out a form, which will later be evaluated and ranked by the appointed advisory board. The experts who are said to conduct the assessment include Dan Boneh, Carla Kirk-Cohen, Anthony Towns, Amiti Uttarwar, and Felix Weis.

“We’re excited to fund projects nearly anywhere in the world. While we aim to focus on year-long developer grants, we also encourage people or teams with shorter projects in mind to apply. If successful, we hope to grow the crypto community fund over time,” Coinbase stated.

For the participants to be eligible for sponsorship, their Bitcoin project must fall into one of the specific categories initially described in the announcement. Coinbase is said to consider supporting developers who are working towards improving the Bitcoin ecosystem by making direct contributions to Bitcoin Core, significant code and/or Bitcoin Improvement Proposals (BIPs), Contributor tooling (open-source), Bitcoin Core libraries and tools, or improvements to testing.

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