Square Crypto has reported that it is giving the first of its several grants to help open-source projects in bitcoin to the BTCPay Foundation. Furthermore, the crypto-centered division of mobile payment organization, Square crypto is giving the BTCPay Foundation a grant of 100,000 dollars to help BTCPay Server, which is an open-source cryptocurrency payment processor that can allow the assets to create anything, “as long as it’s free and open-source software that improves the security, scalability, privacy, user experience or fungibility of bitcoin — or all of the above.”
Square Crytpo wrote in a blog post that –
BTCPay represents everything we love about open-source bitcoin projects. It exemplifies the ideals of our community and promotes adoption by letting merchants accept bitcoin, control their private keys, and self-validate their coins. It also creates powerful, real-world applications for bitcoin without sacrificing user experience or requiring trusted third parties.
As of late, the crypto-centered division of mobile payment organization, Square crypto, took to Twitter to report,
We’re giving a bunch of money to @BtcpayServer, a product that appears to be in direct competition with our mothership. It isn’t. Here’s why. #BH2019 #BalticHoneyBadger2019
— Spiral (@spiralbtc) September 14, 2019
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Moreover, Square Crypto’s blog post further revealed that the most recent move was a part of the organization’s intention of improving and promoting the Bitcoin ecosystem. As per the blog post, this is the first of several potential awards that the organization will give to encourage open-source Bitcoin ventures.
BTCPay Server was established in 2017 by Nicolas Dorier, a bitcoin engineer is free and open-source software, and was introduced under MIT license. Since its Launch, it enjoyed a rapid development of clients and contributors. Further, it intends to support organizations, and people accomplish self-sovereignty nevertheless of their geographic, financial, or political barriers.
Besides, Square Crypto has an eventful past of being pro-Bitcoin as it was one of the initial mobile payment applications to help BTC. The CEO of Twitter, Jack Dorsey, in March 2019, revealed that Square Crypto would support Bitcoin and the development of decentralized systems using design, marketing, and development.
As of late, Jack Dorsey, the CEO of Square crypto and the co-founder of Twitter, cleared away rumors that Twitter was next in line after Facebook and Telegram to begin its local crypto-venture. Moreover, Dorsey elaborated that he would prefer to adhere to the open standards of Bitcoin that currently exist.
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Regardless, the BTCPay Foundation also affirmed in a blog post and proposed that in spite of being two years of age, the organization has had a decent start. Over and above, the open-source payment processor still needs support from corporate elements as it is not entirely funded at this point.
