There has long been a discussion about the slow pace of Bitcoin development. It most often reveals itself as the scaling debate.
The discussion about funding open source technology is not specific to Bitcoin. And, while the pace is slow, there are lots of ideas to borrow from.
“A lot of ideas are coming out,” Bitcoin core developer Eric Lombrozo told CryptographicAsset.com. “A lot of out of box things about how to do this better, especially around scalability and fungibility.”
The Bitcoin core developer founded Ciphrex, a California-based infrastructure and enterprise-grade software for Bitcoin and blockchain technology.
“Around 2011, I was trying to build apps for bitcoin, and was using the RPC for bitcoin core and the app’s development model was limited,” he explains of his inspiration for the startup. “There were only so many things you could do. It was not built for industrial scale, massive user applications. So, I started to build my own libraries, build my own tools and ways of being able to securely store my own bitcoins.”
From this evolved Ciphrex. The technology startup has gone on to feature products like mSIGNA, “a secure, multisignature Bitcoin wallet.” The product uses multi-signature technology to make it easy to create shared accounts or use the same account across multiple devices. Wallets are designed to be stored offline and easy to backup, and the platform runs on top of Bitcoin Core.
Another product, CoinSocket, is designed to make easy the management and security in multisignature Bitcoin accounts for transactions within organizations and groups.
“It’s built atop an entire development platform I developed and was using to build [bitcoin] apps,” Mr. Lombrozo explains. “I tried to make some contributions to bitcoin core. It’s really hard to make changes to the codebase because a lot of it is security-sensitive, more so than most open source projects. It requires intensive code review before code gets merged, which is a rigorous process.”
Mr. Lombrozo is trying to find a way to make a more scalable development environment while the blockchain industry creates entirely new blockchains to do the same.
“So people can contribute more without changing stuff at the fundamental level,” he said. “We need more contributions from people in the industry, in terms of funding resources for developers. We need more community leaders.”
There are a lot of people working as volunteers on bitcoin core, and there’s several companies which allow their developers to contribute, such as Ciphrex, Chain Code Labs and Blockstream.”
Mr. Lombrozo concludes: “A lot of confusion came out from that. Conspiracy theories and what not.”