Monetize developers' works with the blockchain technology
Gitcoin is a blockchain-based and cryptocurrency platform that allows open source developers to monetize their work when it is used. According to the website, Gitcoin was born in the community in Boulder, Colorado. The project was started by a team that built their careers off of advice, mentorship, and relationships in the local tech community. The project runs on top of the Ethereum network, with full supports of the solidity smart contract programming language. Gitcoin claims that with Ethereum and its programming capabilities, it can program the rights of stakeholders directly into smart contracts, encourage actors to provide value, and allows the community to handle edge cases without the need for legal enforcement mechanisms.
Gitcoin was founded by Kevin Owocki, who previously worked as an organizer of Boulder Startup Week, Ignite Boulder, StartupCTO.io, Boulder Blockchain Meetup, and the open-source projects by the trader, YouveGotETH, & ColoradoCoin, and more. The team believes that the stronger the community is, the more successful open source projects are, and vice versa. Because of this, Gitcoin values the community highly and allows repo maintainers, developers, and financiers to find one another with capital incentives.
According to the website, with Gitcoin developers can build exciting projects via hackathons or bounties while earning crypto. They can also use the platform to find mentorship by connecting with talented developers and leaders of top Web3 companies easily, instead of spending time sending e-mails and doing other activities with little to no success. Funders or investors can also benefit from the platform since they can easily connect with passionate developers and do various activities, including but not limited to source ideas through hackathons, hire freelancers through bounties, collaborate in real-time on longer-term projects, and more. At the time of writing, the project already served more than 47k developers with $6.5mm delivered to OSS devs.