Bitcoin Unlimited has announced major changes to its status including formal registration as a non-profit following a $500,000 donation.
Also read: Bitcoin ‘Whales’ Vote in Favor of Larger Tx Blocks
Non-profit Registration Development Drive Ahead
The news was released to members via a post today, and comes as the community at large appears to be shifting to a larger blocksize consensus.
“Exciting times are ahead for this organization,” the post reads.
The half-million-dollar donation came from “donors who represent the on-chain scaling community,” and allows Bitcoin Unlimited to transform its structure and future plans.
“Our donors share our belief about what Bitcoin is and should remain: a global peer-to-peer currency, with affordable fees, scalable and available for universal usage,” the post continues.
The shake-up will first take the form of a legislative move: Bitcoin Unlimited will register as an official non-profit organization in the US to “formalize its presence and assist with future public relations initiatives” and foster the prospect of further donations.
No talk is being made about incorporating formal investment ties or bartering power for financial support.
Running in tandem with the status formalization will be a significant recruitment drive. Developers, both full and part-time, who support on-chain scaling will be drafted