BitcoinACKs Lets You Track Bitcoin Development and Pay Coders for Their Work

"If Bitcoin is decentralized, who is funding its development?" That long-standing question, which in the past was answered by the quiet work of bitcoin volunteer developers, now has a new answer: a website where Bitcoin users can commit payments for protocol upgrades.
Pierre Rochard's idea, BitcoinACKs, aggregates pull requests for protocol improvements from the Bitcoin Core GitHub (in the colloquial language of the coder, "ACK" means that a suggestion or change has passed the pattern).
The site has been around for a couple of years, but Rochard just rolled out a new feature: a mortgage option that allows users to allocate funds for a specific protocol improvement and pay developers once that improvement is built into Bitcoin Core.
BitcoinACKs: a product of the wars of scale
Related: Market Wrap: Bitcoin holds at $ 10.7,000; Uniswap Volume Drops
BitcoinACKs was born from the 2017 scaling wars, Rochard told CoinDesk. The chaos of the online debates about block size increased, and Segwit made it clear to Rochard that a well-organized, transparent repository for the development of bitcoin was required for both bitcoin makers and consumers.
“After the 2017 scaling drama, I decided to learn more about the open source bitcoin development process and see if I could find ways to be helpful. One challenge was to find pull requests with certain criteria that I wanted to look at: pull requests that were old but had good ratings, pull requests that were denied by reviewers, and so on, ”he told CoinDesk .
Read more: SegWit Goes Live: Why Bitcoin's Big Upgrade is a Blockchain Game Changer
“There are 13,600 closed pull requests and 388 open. For most contributors, this is an unsolvable amount of data to digest! A second challenge was having all of the data related to pull request discussions on GitHub, and I wanted a local copy to be queried quickly and using SQL. That's when I decided to build BitcoinACKs. "
A way to track pull requests and pay for Bitcoin developments
See also: Bitcoin could be the focus again after the blazing summer of Ethereum
The website aggregates pull request comments from developers on GitHub to help developers keep track of the status of a pull request. On the site, each request is accompanied by its number of upvotes and downvotes, the author of the pull request, the date the request was created, who reviewed it, when it was last committed to the repository, and whether the request was made was put or not merged into a Bitcoin Core library for provision in a protocol update.
With this latest update, Rochard has added a "promise" feature that allows anyone to commit to paying contributors to work on specific pull requests. These commitments can be paid out via Lightning or on-chain payments via BTCPay Server.
These funding developers can choose which developer to pay for a specific pull request, and Rochard told CoinDesk that there are no penalties or enforcement measures for keeping a user on their promise. It is up to the user to decide when / if to pay off a pledge based on whether or not they are satisfied with the job.
However, if too many users chip in on payments, Rochard will take steps to mitigate this bad behavior. This could include the use of discrete protocol contracts to create a settlement secured by intelligent contracts. In this case, when a user pledges money to a developer for a pull request and the request is successfully merged, that result will be displayed on the smart contract to approve the payment.
Skin in the game
BitcoinACKs' crowdfunding mechanism is a first in the open source landscape of Bitcoin. Previously, you could sponsor individual developers, but you couldn't directly fund individual upgrades.
Rochard's tool makes this possible in an effort to drive the development of Bitcoin on a free market basis by balancing user desires with developer incentives.
“For me, BitcoinACKs is the way all work should be done: limit orders (pledges) are given by capital owners, workers create value, and capital owners send cash directly to workers. If a capital owner starts to falsify (wrongly foregoing commitments), they will be kicked off the platform. If workers don't create value, they won't get paid. "
Read more: Summer 2020 is funding season for open source Bitcoin development
This consideration offers its users the opportunity to express their wishes for the development of the Bitcoin protocol and offer developers another source of income.
BitcoinACKs thus opens a new, evolving frontier for average users and developers. Typically, open source funding has been the area of ​​cryptocurrency exchanges or other bitcoin companies. These actors often offer six-figure, flat-rate grants to independent developers to fund their work, as we've seen from Kraken, Square Crypto, and others.
Now, if not in the form of contributions in kind, then at least in mind, these large amounts can be offset by the contributions of the Bitcoin community with smaller sums. Rochard stressed that this model could even help young developers keep track of their work by sponsoring a bounty for their own pull requests.
User promise against corporate grants
Ultimately, Rochard sees BitcoinACKs as another building block for financing Bitcoin development. It is the complementary shovel to the corporate grant bulldozer and enables targeted, function-specific work, where the grants enable more general, developer-specific work.
“I think corporate grants are great for funding a specific subset of open source work: independent, self-directed work. It funds a public good that has positive externalities on the ecosystem, and I think any profitable business should do so.
“BitcoinACKs is used to finance targeted, specific results. For example, instead of asking for favors or hiring full-time employees, your company may need some specific API functionality. It is more convenient to put a premium on it. "
At press time, 11 pull requests have received commitments ranging from 10,000 satoshis to over 2 million satoshis (or "sats" - a micro-measurement of Bitcoin where 100,000,000 sats equals 1 BTC). The two most popular projects, a bitcoin taproot improvement proposal and another to encrypt messages between bitcoin nodes, have pledges of 2,010,116 sats (~ $ 214 or 0.02010116 BTC) and 1,241,210 sats (~ $ 132 or 0.0124121, respectively) BTC).
similar posts
BitcoinACKs let you track Bitcoin evolution and pay coders for their work
BitcoinACKs let you track Bitcoin evolution and pay coders for their work

You should check here to buy the best price guaranteed products.

Last News

Dwight Howard goes off on Sixers fans for Ben Simmons anger

Man accused of raping parole officer at gunpoint during check-in, Tennessee cops say

Sung Kang looks back at 'Tokyo Drift' and the origin of Han always eating chips

A Seattle pride event focused on trans people of color is charging white people a $50 'reparations fee' to go

I've been a wedding photographer for 8 years. Here are 4 of the biggest mistakes I've seen couples make.

A QAnon believer tried to kill his pregnant partner with a hammer while she was bathing