FutureBit, a cryptocurrency hardware and software development company, has announced the launch of FutureBit Grants, which will provide funding to Bitcoin FOSS (Free and Open Source Software) projects. The first recipient of the grant is Con Kolivas, who has made significant contributions to the development of cgminer, ckpool, and the propagation of the stratum protocol. These open-source works have been utilized by closed-source software used by major ASIC manufacturers and their pools, leading to billions in profits for these entities with little credit or returns to the Bitcoin FOSS community.
FutureBit’s contribution will be towards modernizing the open-source ckpool, which will enable all Apollo BTC units to function as their own stratum pool and mine solo to their own node. This will also be deployable to small farm operators who want to mine to their node and avoid centralized pools. FutureBit plans to continue investing in this space and supporting R&D for additional decentralized pool protocols to ensure that Bitcoin’s power remains in the hands of the people.
The launch of FutureBit Grants is a positive development for Bitcoin FOSS projects, which are often underfunded and underappreciated despite their critical contributions to the Bitcoin ecosystem. The support provided by FutureBit will enable developers to continue working on solutions that promote decentralization and empower individual users in the Bitcoin network.
