News Snapshot:
A Bitcoin researcher has received additional funding to work on a project to scale Bitcoin. The Utreexo Project reduces Bitcoin’s state size. Crypto exchange BitMEX has renewed a $100,000 grant for Bitcoin researcher Calvin Kim for another year. Kim also received additional funding worth $50,000 from the Human Rights Foundation. Kim is working on MIT’s Utreexo Project, which aims to help Bitcoin scale for years to come. Bitcoin’s state size—a database that details who owns what—generally increases in size over time, creating additional burdens for the decentralized network of harddrives that host the network. Utreexo’s algorithm promises to significantly reduce...
