The future of Bitcoin relies not only on market adoption but also on the relentless work of open-source developers who maintain and improve its underlying protocol. In a powerful demonstration of industry support for decentralized innovation, HDR Global Trading Limited—the company behind BitMEX—and OKCoin have each committed $75,000 to fund the development work of **Amiti Uttarwar**, a prominent contributor to Bitcoin Core. This joint $150,000 grant over 12 months underscores a growing recognition among major crypto platforms that sustaining the health of Bitcoin’s infrastructure is both a responsibility and a strategic imperative.
This funding initiative reflects a broader movement within the cryptocurrency ecosystem: the acknowledgment that exchanges and trading platforms are built on the shoulders of volunteer-driven, open-source development. Without continued investment in core protocol improvements—especially in areas like privacy, security, and network resilience—the entire digital asset economy risks stagnation.
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Advancing Bitcoin’s Peer-to-Peer Foundation
Amiti Uttarwar has emerged as a key figure in strengthening Bitcoin’s peer-to-peer (P2P) layer—an essential but often underappreciated component of the network. Her contributions focus on enhancing user privacy and reducing information leakage during transaction propagation.
One of her most impactful pull requests, #18038, significantly reduces how often wallet nodes re-broadcast unconfirmed transactions. This seemingly technical adjustment plays a crucial role in minimizing the risk that adversarial nodes can trace transactions back to their originating wallets—a major privacy vulnerability.
This change is part of a larger effort, tracked under #16698, to completely overhaul Bitcoin’s transaction re-broadcasting mechanism. The goal? To build a system where no sensitive metadata is exposed simply by participating in the network.
"Bitcoin introduced a new trust model—one with clear rules that are open to everyone. Strangers can agree on what happened without having to trust each other. That potential could profoundly change how we interact as humans and build society. Ever since I learned about these possibilities, I’ve been captivated."
— Amiti Uttarwar
Strengthening Code Reliability Through Testing
Beyond privacy enhancements, Amiti is advancing the robustness of Bitcoin Core through improved testing infrastructure. Currently, the test framework for P2P connections supports only specific types of network interactions, limiting developers’ ability to simulate real-world conditions.
Her ongoing work introduces support for simulating alternative connection types, thereby expanding test coverage and enabling more comprehensive validation of P2P behavior. Greater test automation means fewer bugs, faster development cycles, and higher confidence in code changes—critical for a project where reliability is non-negotiable.
This focus on long-term code sustainability aligns perfectly with the vision of both HDR and OKCoin: supporting foundational work that may not make headlines today but ensures Bitcoin remains secure and scalable for decades to come.
A Shared Commitment to Open-Source Sustainability
Both HDR and OKCoin have established track records of funding independent developers and research initiatives. HDR recently supported the MIT Digital Currency Initiative, Bitcoin Core maintainer Michael Ford, and researcher Gleb Naumenko. OKCoin previously awarded grants to developer Fabian Jahr and the BTCPay Server project.
This collaboration marks a rare instance of two major industry players co-funding a single developer—an act that sends a strong signal about shared values.
"We seek to contribute to Bitcoin’s long-term success and scalability. Supporting independent developers has always been a top priority. Amiti’s work targets critical components of Bitcoin Core, making the codebase safer for every user who sends a transaction and building upon Satoshi’s original vision of a secure, private peer-to-peer electronic cash system. This is a small yet meaningful step toward incentivizing open-source development and attracting more talent to our industry."
— Hong Fang, CEO of OKCoin
Sam Reed, CTO and Co-Founder of HDR, echoed this sentiment:
"HDR is eager to give back to the open-source systems our business depends on. We’re especially impressed by Amiti’s work improving Bitcoin privacy through adjustments to how unconfirmed transactions are rebroadcast. This unprecedented joint support signals our shared commitment to ensuring Bitcoin’s long-term success."
Why Funding Core Development Matters
There are only an estimated 30 to 40 full-time contributors actively maintaining Bitcoin Core—a shockingly small number given the global economic weight Bitcoin now carries. These developers operate without centralized oversight, driven by passion, principle, and community support.
Without sustainable funding models, this critical workforce faces burnout or migration to more lucrative sectors. The grant to Amiti Uttarwar isn't just charity—it's an investment in systemic resilience.
"Exchanges are built on products developed by open-source communities. If we expect others to maintain the infrastructure and improve the protocol indefinitely, we risk falling into the tragedy of the commons. There's still so much development needed to realize the bigger vision. Short-term, supporting open-source development might seem altruistic—but long-term, it's essential."
— Amiti Uttarwar
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Education and Advocacy: Making Bitcoin Accessible
In addition to her coding contributions, Amiti is deeply committed to public education. Based in the San Francisco Bay Area, she previously worked as a software engineer at Coinbase and as a full-time Bitcoin developer at Xapo.
She regularly shares knowledge through conference talks, podcast appearances, blog posts on Medium, and even illustrated guides like her Bitcoin Bytes series on GitHub. These visual explanations help demystify complex concepts such as transaction malleability, consensus rules, and network propagation—making Bitcoin more approachable for newcomers and experts alike.
"There are only 30–40 people working full-time on Bitcoin Core. Meanwhile, our industry is trying to build a fully functional global currency. We still have a long way to go. With this grant, I plan to keep working to make Bitcoin more reliable, more private, and easier to understand."
— Amiti Uttarwar
Frequently Asked Questions (FAQ)
Q: Who is Amiti Uttarwar?
A: Amiti Uttarwar is a core contributor to Bitcoin Core, focusing on improving the peer-to-peer layer, enhancing user privacy, and expanding test coverage. She previously worked at Coinbase and Xapo and is also known for her educational content about Bitcoin.
Q: What will the $150,000 grant be used for?
A: The grant enables Amiti to continue her full-time work on Bitcoin Core development over 12 months, specifically targeting privacy improvements, P2P protocol reliability, and broader educational outreach.
Q: Why are HDR and OKCoin funding open-source developers?
A: As businesses built on Bitcoin’s open-source infrastructure, both companies recognize their responsibility to support its long-term health. Funding core development ensures network stability, security, and scalability—benefiting all users and stakeholders.
Q: How does improving transaction re-broadcasting enhance privacy?
A: Frequent re-broadcasting can expose which node originated a transaction. By reducing unnecessary broadcasts, Amiti’s work limits the ability of malicious nodes to link transactions to specific wallets.
Q: Are there other examples of exchange-funded developer grants?
A: Yes—OKCoin previously funded Fabian Jahr and BTCPay Server; HDR has supported MIT DCI, Michael Ford, and Gleb Naumenko. However, joint funding between exchanges remains rare.
Q: How can others support Bitcoin Core development?
A: Individuals and organizations can contribute through direct donations, sponsoring developers, participating in testing, or creating educational resources that promote wider understanding.
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Final Thoughts
The joint grant from HDR and OKCoin to Amiti Uttarwar represents more than financial support—it's a statement about shared responsibility in the crypto ecosystem. As Bitcoin continues evolving into a global financial backbone, its strength will depend not just on price or adoption, but on the quiet dedication of developers ensuring its integrity.
By investing in talent like Amiti, industry leaders are helping secure Bitcoin’s foundation for future generations—proving that progress isn’t always loud, but it’s always necessary.
Core Keywords: Bitcoin Core developer, open-source funding, P2P layer improvement, Bitcoin privacy enhancement, developer grant, HDR Global Trading, OKCoin, blockchain infrastructure