Square, Gemini and Kraken became sponsors of a new fund that finances bitcoin developers.

Developers John Newbury at Chaincode Labs and Mike Schmidt at Blockstream are launching an independent foundation called Brink (reference to the headline of a Bitcoin genesis block newspaper) that will support bitcoin development. This is reported by Bitcoin Magazine.

Through Brink, Newbury and Schmidt, who are also collaborating on the Bitcoin Optech project, will provide grants to developers.

„We believe that Brink’s unique funding, grant and mentoring model will further decentralize the development of the Bitcoin protocol,“ said Newbury and comments for Bitcoin Magazine.

Brink will launch a scholarship programme and developers under Newbury’s mentorship will learn how to participate in the development of Bitcoin (Bitcoin Core or one of the Lightning projects).

„The scholarship programme is a rather unique feature of Brink,“ said Newbury. „With the exception of Chaincode Residence [a shorter fellowship programme for Bitcoin developers] it is difficult to establish yourself as a Bitcoin Core developer.

In addition to the scholarship programme, Brink will also provide funding to existing Bitcoin developers. The fund will act as an intermediary between individuals and companies that would like to sponsor the development of Bitcoin.

„The Human Rights Foundation, Square Crypto and Gemini will fund the first two Brink scholarship recipients, while Kraken Crypto will sponsor the first grant recipient. The exchange has announced funding of $150,000 on Twitter.

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