On February 1 the cryptocurrency media outlet and blockchain company Coingeek announced it plans to fund the Electron Cash team’s development. The new Electron Cash projects will involve working on innovative plans for the bitcoin cash ecosystem and a partnership with the firm Nchain.
Coingeek Will Provide the Electron Cash Team $300,000 Per Year to Continue Adding Value to the Bitcoin Cash Ecosystem
Coingeek.com has announced funding the team who created the Electron Cash wallet, one of the first wallets to support the bitcoin cash (BCH) protocol. The blockchain company led by the billionaire entrepreneur Calvin Ayre will fund Electron Cash with $300,000 USD per year for Bitcoin Cash (BCH) open source projects. Both Coingeek and the blockchain firm Nchain believe that the Electron Cash wallet is a “tailored fit” for the BCH chain.
Jonald Fyookball: “The Funding Will Help Achieve the Original Satoshi Nakamoto White Paper’s Vision”
The Electron Cash wallet’s development has been led by the pseudonymous programmer, Jonald Fyookball, who believes bitcoin cash is the ‘true bitcoin.’ Fyookball thinks BCH meets the Satoshi Nakamoto white paper’s description of a “peer-to-peer electronic cash system.” The Electron Cash team plans to use the funding to expand development groups, while also focusing its energy on other open source software projects for the BCH network. The team plans on creating a ‘native’ Android Electron Cash wallet, an iOS version, and even a feature phone (Nokia) version of the client. Nchain will provide the team with technical advice, R&D support, and the firm’s chief scientist, Craig Wright, has plans to work with the Electron Cash developers.
“To have this level of financial muscle from Coingeek and technical expertise from Nchain means we have the resources to develop numerous software projects that will help the BCH community,” explains the Electron Cash lead developer Jonald Fyookball.
We are excited to contribute our part to help achieve the original Satoshi Nakamoto white paper’s vision that got us all so excited in the first place.
Coingeek’s Calvin Ayre Believes Bitcoin Cash is the All-In-One Cryptocurrency for the Future
The owner of Coingeek, Calvin Ayre, hopes the new funding can improve BCH-centric applications. Ayre states that anyone with a knowledge of BCH understands that it is the all-in-one cryptocurrency for the future.
“But BCH is in its early stages, and needs more technical advancements to make it easily used in daily life — especially at the enterprise level,” explained Ayre during the funding announcement.
That’s why we support open source projects that make sure the best ideas in cryptocurrency are built into the BCH ecosystem.
Members of the Three-Party Initiative Say This Is Only the Beginning
Jimmy Nguyen, the CEO of Nchain, details that the three-party initiative with Electron Cash is just what is needed to continue bolstering the bitcoin cash ecosystem. “We’re especially excited to work with the Electron Cash team to help realize implementations of some of our patent-pending inventions – such as blinded threshold signatures,” Nguyen explained to news.Bitcoin.com.
In addition to the Electron Cash development funding and open source initiatives, Ayre explains this is only the beginning. Coingeek plans to launch campaigns that help promote merchant adoption, alongside offering to fund other developers willing to push BCH to the next level.
“If you are a developer or technology venture that needs funding to develop projects or applications for the bitcoin cash chain, send us your pitch,” Ayre emphasizes.
What do you think about Coingeek.com funding the Electron Cash development team and other open source initiatives? Let us what you think in the comments below.
Images via Pixabay, Nokia, Coingeek, Electron Cash, and Nchain.