Bitcoin “missionaries” vs. altcoin and TradFi “mercenaries.” NYDIG’s Greg Cipolaro says Bitcoin missionaries come out on top. FrederickMunawa reports
In a world where giants of the conventional financial system like Visa, Mastercard and PayPal employ tens of thousands of employees, Bitcoin continues to be run by a tight ship of just a few dozen active developers.in September chronicling Bitcoin’s 14-year evolution from a software development perspective. The report, titled “Developers of Bitcoin,” found that there are only 40 to 60 active developers.
“The purpose of the report was to help people understand Bitcoin’s development cycle: How it evolved from an idea circulated on a mailing group, to a pervasive technology today. And then, who are the people who continue to update the [Bitcoin] protocol,” explained Greg Cipolaro in an interview with CoinDesk. Cipolaro is NYDIG’s global head of research and co-author of the report.Satoshi Nakamoto, Bitcoin’s pseudonymous founder, published his whitepaper on Oct.
“One of the interesting things I thought we uncovered in the report is the geographic location of the developers,” said Cipolaro. “It’s helpful for investors who may be concerned about who's contributing and updating this piece of software. We know who they are and most of them seem to be in North America, Western Europe, those types of geographies.”
According to the report, “code contributions have reached 200-400 commits monthly,” a steady, measured progression. And although Bitcoin’s core protocol averages 40 to 60 monthly active developers, 1,140 developers have contributed to the project since inception, with 5 to 20 new developers testing the waters every month .The broader ecosystem follows a similar pattern, but, of course, with higher numbers.
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