Square Crypto Funds Bitcoin Developer to Improve Mining Pool Software – CoinDesk – Coindesk

Square Crypto Funds Bitcoin Developer to Improve Mining Pool Software – CoinDesk – Coindesk

Square Crypto’s latest grant will fund a Bitcoin developer’s work on software that could improve how mining collectives pool hash power.

Pseudonymous developer Fi3 (@piccioneLibero2 on Twitter, or “free pigeon”) will receive an undisclosed sum to work on an implementation of Stratum V2, the next iteration of a Bitcoin mining protocol software developed by Braiins. 

“Square Crypto is excited to support the development of a high quality open-source implementation of Stratum v2,” Square Crypto lead Steve Lee said to CoinDesk. “This software benefits miners by maximizing their revenue and providing more freedom and security.”

“I wanted to work on something related to Bitcoin,” Fi3 told CoinDesk. The Bitcoin developer has previous experience working with Bitcoin’s mining industry via a collaboration with Italian mining company Bitminer Factory.  Fi3 is proficient in the Rust programming language, which will be used to code the upgrade, so once they saw the opportunity they “caught it.” 

“I also like the personal freedom that this kind of grant gives you,” Fi3 continued.

The co-author of the proposal, Jan Kvapil, will begin work on the implementation in February, Fi3 said.

A mining pool is a collective of miners – from big industrial players to hobbyists farming in their basements – who combine their hash power to increase their collective chance of mining a block.