Purse Enters Agreement for Protocol Development

Today, Purse, bitcoin’s largest marketplace and escrow service, is pleased to announce a multi-million dollar bitcoin protocol development agreement with Bitmain Technologies, Bitcoin.com, BIXIN (formerly HaoBTC), and F2Pool.

Purse will apply its customer centric approach to bcoin, a full node implementation, to make bitcoin accessible to new developers. Funds will be used to hire new developers and nurture a vibrant open source community to help advance protocol development.

“For bitcoin to take off, we need multiple implementations with even market share,” said Purse CEO Andrew Lee. “Decentralizing protocol development will lead to multiple clients, diverse communities, more developers, better security, and more innovation.”

Bcoin is fully compliant and compatible with the latest version of Bitcoin Core. Since launching in September 2016, bcoin has been embraced by the ecosystem including companies like BitPay, Ripio, BTC.com, and Decentraland. The software is free and open source under the MIT license.

The participants of the agreement agreed bcoin developers would retain full autonomy over the project and have not purchased an equity stake. “We’re impressed with the team’s technical capability and professionalism,” said Bitmain CEO Jihan Wu. “Further, they’ve already demonstrated ability execute and innovate.”

About Purse

Founded in 2014, Purse’s mission is to make bitcoin useful for consumers and developers. The company operates one of the largest marketplaces in the world processing millions of dollars per month all over the globe.

Purse is committed to mainstream adoption of bitcoin and will continue to contribute open-source infrastructure for the community.

Bcoin Website: http://bcoin.io
Bcoin on Github: https://github.com/bcoin-org/bcoin
Media Contact: Steven McKie media@purse.io