When working with Bitcoin, decentralization is king. Purse CEO Andrew Lee, through bcoin, extends that logic to the Bitcoin protocol itself.
"For Bitcoin to take off, we need multiple implementations with even market share," Lee explains in a Medium post. "Decentralizing protocol development will lead to multiple clients, diverse communities, more developers, better security and more innovation."
An important feature of this new agreement is that the participants will gain no equity in any of the projects that arise from the funding. "Bitmain, Bitcoin.com, Bixin and F2Pool donated funds for a non-equity stake to specifically help with supporting the development of multiple implementations. Similar companies also donated to Parity (who is working on a Rust implementation of Bitcoin). The more client diversity Bitcoin has, the better," explained Steven McKie, head of Growth & Product Content at Purse, in correspondence with Bitcoin Magazine. "Bcoin remains an independent project."