Open source developers can use the Gitcoin platform to monetize their work when it is used. The blockchain business Gitcoin was established in 2017 by Scott Moore, Kevin Owocki, and Juliun Brabon. The project enables Ethereum developers compensation for pull requests made to open-source coding projects. The booming tech scene in Boulder, Colorado, gave birth to Bitcoin. The founding team's careers have been based on counsel, mentoring, and connections in the neighborhood's IT community.

 

Through a unique, democratic system called quadratic funding, funds from the cryptocurrency Gitcoin are allocated to initiatives that provide public goods. Gitcoin has 11 investors and Balaji Srinivasan invested in Gitcoin's Seed VC - II funding round. The most recent investment round for Bitcoin was a Seed VC - II on April 14, 2021, which cost $11.3M. Gitcoin has assisted programmers from all over the world get involved in projects like Metamask, Truffle, and the Ethereum Foundation and even contributed to scaling solutions. Gitcoin boasts over 18,000 monthly users, an 88 percent bounty completion rate, a 7-day median turnaround, and an hourly rate distribution of over $60.