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These companies drive development of Bitcoin

2020.06.25

The main organizations driving the development of the Bitcoin open source project are Blockstream and Lightning Labs, with Chaincode Labs providing the largest funding for research on Bitcoin Core. According to the report, more and more companies are participating in research, so that the available financial resources are much higher and the transparency and degree of distribution of capital is much more diversified today than in the past.

The table below shows that Blockstream and Lightning Labs pay a total of 8 developers to work on the further development of Bitcoin or Lightning. Square Crypto and MIT DCI follow with 7 and 6 developers each. In total BitMEX has identified 33 companies working on the further development of Bitcoin. However, BitMEX also notes that the following table is not complete, as not all financial flows of all companies worldwide are publicly available.

The main focus of current efforts to improve Bitcoin is, among other things, the further development of the Lightning scaling solution and the sidechains used in it. Lightning is a scaling solution in which transactions are collected in additional channels, the so-called state channels, and are only transferred to the mainchain when the channel is closed.

Author : Collin Brown