Electron Cash FundingUp to $300 000 a year
Electron Cash is an electronic wallet tailored for the Bitcoin Cash (BCH) chain. Led by Jonald Fyookball, the Electron Cash team believes Bitcoin Cash is the Bitcoin that remains true to the Satoshi Nakamoto white paper’s vision of a peer-to-peer electronic cash system.
The Electron Cash team is planning to develop software projects for the Bitcoin Cash ecosystem, which will be made available to the public for usage under an open source license, but only for usage on the BCH chain. CoinGeek.com has pledged a funding of up to $300,000 per year for the open source projects, while blockchain research and development specialist nChain Group will provide technical expertise and intellectual property licenses.
The initial line-up of projects will include the developments of a new ‘native’ Android Electron Cash wallet, an iOS version of the Electron Cash wallet, and a feature phone (Nokia) version of the Electron Cash wallet.
Under the agreement, CoinGeek.com, the Electron Cash team and nChain will mutually approve the software projects that will be done under the initiative. The Electron Cash team will manage all development, with nChain providing technical advice and support, as well as intellectual property licenses relevant for selected projects. Dr. Craig Wright, chief scientist of nChain, will advise on the projects.
“This three-party initiative with Electron Cash, CoinGeek.com and nChain exemplifies the teamwork that is needed, with groups around the world, for Bitcoin Cash to succeed. 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,” said nChain Group CEO Jimmy Nguyen.
Aside from the partnership with Electron Cash, CoinGeek.com is also supporting other initiatives that will enable the global adoption of Bitcoin Cash. Antiguan-based Calvin Ayre, owner of CoinGeek, has also has pledged up to €3.6 million in funding to the Terab Project, which aims to facilitate 1 terabyte size blocks on the BCH chain, allowing the network to process 7 million transactions per second.
“Anybody 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. That’s why we support open source projects that make sure the best ideas in cryptocurrency are built into the BCH ecosystem,” Ayre said.