Bitcoin developer Ben Allen has received a $100,000 grant from investment firm Maelstrom to support the development of Payjoin, a privacy-focused tool aimed at improving Bitcoin’s scalability and privacy.
According to a May 20 announcement shared with Cointelegraph, Maelstrom will finance Allen’s work on his Payjoin devkit alongside Dan Gould. The system allows Bitcoin (BTC) senders and receivers to use batched transactions, with positive implications for scalability and privacy.
Payjoin Developer Kit’s website. Source: Payjoin Dev Kit
Payjoin was first proposed by Nicolas Dorier in 2019 in Bitcoin improvement proposal (BIP) 78. The core principle behind the system is that both senders and receivers may contribute inputs to a transaction.
“Namely that privacy is enhanced and improved consolidation of transaction outputs is achieved, benefiting scalability,“ the Maelstrom announcement states.
A Maelstrom representative told Cointelegraph that grantees are paid monthly for a total of $100,000 per year in Bitcoin and Allen’s grant will last one year.