Bitcoin Core

From CryptoCurrency Wiki

Basics

  • First version 2014-03-19
  • Wiki: "open source client of the bitcoin cryptocurrency. Initially, the software was published by Satoshi Nakamoto under the name Bitcoin, then Bitcoin-Qt and later renamed to Bitcoin Core. It is also known as the Satoshi client. It is the reference implementation for bitcoin nodes that create the bitcoin network. Since its introduction the majority of bitcoin miners support its use. In this way, the developers of Bitcoin Core are sanctioned to make changes to the underlying bitcoin protocol."
  • Is often construed as an elite inner circle holding the Bitcoin network hostage. BitMEX Research disagrees, looking at three different ways competition exists within Bitcoin: between chains, between independent implementations, and other competing software projects; BitMEX finds that regardless of an offshoots goals, it requires network consensus. In the same manner, Bitcoin Core requires network consensus and its actual power is vastly overestimated; the ability to alter or maintain code does not mean it will be adopted by the greater network. (However it is good to keep in mind that BitMEX has given grants to Bitcoin Core devs before to continue their work. It could be that they are genuine about this research, or that they have a bias.)

Governance

Bugs

  • There has been many bugs found in the Bitcoin Core client (list here) with some of them being critical.

People working on Bitcoin Core:

Funding

"Gemini today announced the launch of a $200,000 Bitcoin development fund. Called the Gemini Opportunity Fund, $150,000 of the money, in Bitcoin of course, will go straight to Brink, a London non-profit fellowship program to sponsor Bitcoin developers. The developers will work with John Newbery, Brink’s co-founder and executive director, and a Bitcoin Core contributor. Mike Schmidt, another Bitcoin core contributor. Square, the Human Rights Foundation and Kraken are among other donors. Kraken also donated $150,000. So far, the only fellow is Gloria Zhao, a Bitcoin Core contributor fresh from University of California, Berkeley, where she sat as president of its blockchain club."