MIT, Jack Dorsey & More are investing resources in the Bitcoin development effort

Source: A screenshot, Instagram / Mitpics

Forward-thinking innovators are looking for new ways to drive Bitcoin (BTC) development. One of the world’s largest tech universities, IT CEOs, and corporate pop stars are turning to improving the Bitcoin network.

In the latest development, the Massachusetts Institute of Technology (MIT) has snuck in through its Digital Currency Initiative (DCI) operated by the MIT Media Lab.

The DCI has announced that it will launch a “four-year research and development program” as part of its new Bitcoin Software and Security Effort project to “strengthen the Bitcoin network and promote industry commitment to open source software funding .

The DCI announced that its initiative will be working with “industry leaders” to involve its project group in the development of Bitcoin Core by “attracting domain experts in network and operating system security, compilers, programming languages ​​and more to themselves to join the efforts. ”

The MIT group said it had raised $ 4 million in funds to help its cause and was hoping to double that amount in the long run, with contributions from a number of leading BTC advocates and industry players – including Twitter and Square boss Jack Dorsey, Fidelity Digital Assets, CoinShares, Cameron and Tyler Winklevoss of the Gemini group of crypto companies and perennial BTC cop Michael Saylor, head of MicroStrategy and MIT graduate.

As part of the DCI project, the collective will switch from three to eight high-ranking Bitcoin developers and researchers, strengthen the system against software-based attack threats and inflation risks, and build long-term defense measures against Bitcoin core layer 1 bugs. “

Saylor, in the typical pro-BTC mood, stated:

“Bitcoin is the most important innovation since the advent of the internet.”

However, the MIT project isn’t the only large corporate-run initiative aimed at protecting Bitcoin against future risks and network problems. Earlier this month, Dorsey and rap superstar Jay-Z announced that they would be putting BTC 500 ($ 23M) on the Trust, another Bitcoin development offensive that will initially focus on strengthening teams in Africa and India .

Dorsey has also launched his own development initiative through Square’s Square Crypto entity, which aims to improve the Bitcoin user experience for ordinary subscribers.

Earlier this week, the Twitter boss released another BTC 1 post on the Brink Initiative, a donation-funded R&D campaign by the Bitcoin network and a frequent recipient of Square Crypto funds. The Human Rights Foundation, Kraken and Gemini also support the Brink Initiative.
Learn more:
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– Crypto Adoption in 2021: Bitcoin Rules, Ethereum Growing and Facing Rivals

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