While it is not clear who will receive funding nor the size of the sponsorship itself, Coinbase plans to grow and improve the entire crypto industry, while making it simpler to use and more secure for everyone.
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The exchange hopes to expand the program to other types of projects and crypto communities if successful:
"The open source community has provided critical support for Bitcoin development, with some support from donations from industry organizations and academic institutions."
Example projects Coinbase will consider supporting:
- Direct contributions to Bitcoin Core (improving testing, fuzzing, bug fixes, improvements);
- Significant code and/or Bitcoin Improvement Proposal (BIP) review;
- Contributor tooling (bitcoinacks.com);
- Bitcoin Core libraries and tools (e.g., libsecp256k1);
- Improvement to testing (fuzz testing, functional tests).
Earlier, iHodl reported that Coinbase Wallet, the crypto wallet of the US crypto exchange, added a new functionality, allowing users to buy and store cryptocurrencies directly in the app.
This new feature is currently available on Android devices in the US. It is expected the services will soon be extended to iOS and more countries in the future.
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