BitMEX grants $40,000 to developer of Bitcoin scalability project

The one-year grant will help develop a protocol that shrinks the size of Bitcoin’s unspent transaction outputs with no loss of security.
By Liam Frost

In brief
BitMEX's parent company, 100x Group, awarded a $40,000 grant to Bitcoin developer Calvin Kim.
Kim is working on Bitcoin unspent transaction output scaling solution Utreexo.
The protocol aims to compress the size of UTXOs while maintaining their security.