TL;DR Breakdown
- Human Rights Foundation decides to support the growth of Bitcoin.
- $210K released to facilitate the translation of the Bitcoin manuscripts into other languages.
Human Rights Foundation has recently taken up another new and beautiful initiative and that is to diversify and develop the already existing Bitcoin cryptocurrency. For the sole purpose of development, a whopping amount of cash has been liberated by the organization. This cash amounts to a total of $210,000, a huge sum.
Bitcoin has a scalability issue and this is the reason why a network called the Lightening Network exists. The aim of Human Rights Foundation was to appoint 2 developers that will improve the existing interaction of people with Bitcoin. For this purpose, 2 teams of Lightening Network wallets and organizations for the translation of Bitcoin manuscripts into the Arabic language will be created. The reason for this is to make crypto knowledge available to people far and wide.
Human Rights Foundation’s intended improvements?
Improvements will be made using the grant that Human Rights Foundation has released. Firstly, Calvin Kim will be using his share of the money as fuel to improve and enhance Utreexo. If you don’t know what it is, you should definitely search for it. It is a project which is being implemented on the Bitcoin blockchain network which will improve the scalability of the nodes by a huge margin.
The number of hours consumed along with the efforts involved will also go down considerably. Secondly, Dhruv Mehta will use the money to fuel his project which has been titled as Bitcoin Improvement Proposal 324, and which packs serious potential. This proposal seeks to isolate and diminish the chances of Sybil attacks on the Bitcoin chain, ie, Dhruv Mehta would oversee and improve the security of Bitcoin.
Next, Abubakar Nur Kahlil would be working with the help of other technicians to build a unique and efficient wallet. This wallet will be specific and would be operating in the African country of Nigeria where a lot of corruption has made home and also, where citizens and civilians are in need of crypto like Bitcoin. This leads to conclusion that Khalil is aiming to bring about a heavy change in the entire landscape of Nigeria where he belongs to along with the people in it.
As for the Lightening Network wallet provider, Sphinx Network, it will be responsible for open encrypted communication channels between its users and the activists so as to implement humanitarian funding. Sphinx Network specializes in providing Lightening Network communication and texting to its users. The second organization called Breez also works on Lightening Network. The task of Breeze will be to use his share of the grant provided so as to enhance and work upon the chatting services it owns and also make better provisions for its users by trying to make technological advancements.
Also, the translation of the details and technicalities of Bitcoin including some other content into the Arabic language is taken up by Arabic_HODL. Such huge development steps when implemented will lead to an improvement in the stable architecture of Bitcoin and a huge number of increased opportunities. It can be concluded from the entire discussion that the Human Rights Foundation has a goal in mind to completely bring about a change in the manner in which the entire world perceives Bitcoin.
