BIP Bounty is a project which aims to supercharging open source Bitcoin Core development. Bitcoin Core is the foundation of the entire ecosystem, and ongoing work in this area is fraught with two main issues.
Lack of funding
Lack of market signals
Because no direct profit can be made by making improvements to the shared Bitcoin protocol, sponsoring core development work is the only way to financially sustain the contributors on the ground. By making these financial sponsorships tax deductible, BIP Bounty hopes to incentivize more of them. Crucially, we also seek to enable these sponsorships in a model distinct from previous ones. BIP Bounties are attached to specific Bitcoin Improvement Proposals, which can begin to provide a concrete signal to core developers as to which BIPs and areas the community has the most interest. Using this information, they can choose to direct their efforts to where they will be most valued. BIP Bounties are to be structured with ongoing input from the community. The goal is to facilitate a greater number of quality reviews, feedback, sound critiques of, and contributions to BIPs in order to aid in determining the path forward for Core development. Please engage with us via our form or through twitter for comments, feedback, or ideas.