BitMex awards its last developer grant to a Bitcoin scalability solution from MIT
Cointelegraph
Published Aug 24, 2020 02:21PM ET
Updated Aug 24, 2020 04:00PM ET
BitMex's 100x Group has awarded its last Bitcoin development grant of the year. The company has awarded a grant valued at $40,000 to Calvin Kim for his Bitcoin scalability solution, Utreexo — a project originally created by Tadge Dryja from the MIT Digital Currency Initiative.
Bitcoin's protocol checks every proposed transaction to make sure that the sender has enough coins to complete the request. All unspent Bitcoin (BTC) is saved in what is known as UTXO, or Unspent Transaction Outputs. While the entire Bitcoin blockchain is currently around 300 GB, the UTXO is only 4 GB. MIT researchers have claimed that as the network grows, this may one day present a bottleneck of its own.
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Written By: Cointelegraph
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