Bitcoin Cash Node is First to be Fully Funded on Flipstarter; $372,000 Pledged Across 5 Campaigns

TL;DR: With a full dozen days to spare, Bitcoin Cash Node (BCHN) reached its fundraising goal of 978 BCH, activating nearly a quarter-million dollars. It participated in an innovative new platform, Flipstarter. So far, node campaigns spread across five projects, including BCHN, gathered donation pledges totaling more than $372,000 (at current market prices) among 1,525.44 BCH pending.

Bitcoin Cash Node is First to be Fully Funded on Flipstarter

The month-long Flipstarter-based fundraiser went live on Friday, April 17th, 2020. As of April 26, 2020, at block 632516, Bitcoin Cash Node became fully funded. The full node project, aiming to provide a safe client implementation for the Bitcoin Cash network, set its goal at 978 BCH, $240,030.54 at current market prices.

Bitcoin Cash Node

Funds raised for BCHN came from 46 contributions, some anonymous, others proudly open complete with messages of support. The previously little known SLP Foundation made a grand entrance into the BCH community, putting Bitcoin Cash Node over the top with a pledge of 371.37 BCH ($91,233.69), 38% of the total pledged to BCHN.

With the money triggered, BCHN “hope to get the necessary resources to attend to some immediate needs of Bitcoin Cash miners, businesses and users, providing robust research and implementation for them. We also intend to put in place some necessary structure to ensure we are equipped to sustain ourselves through the next leg of challenges,” according to its Flipstarter appeal message.

Trustless, Non-custodial Assurance Contract Platform Proves it Has Legs

Flipstarter was in part an answer to the Infrastructure Funding Plan for Bitcoin Cash (IFP), introduced in late January of this year by an influential mining pool operator. The IFP debate quickly turned sour (see detailed timeline, below) with original backers pulling out altogether. But the exercise proved fruitful on at least one score: more attention was brought to the need for infrastructure funding.

Bitcoin Cash Node

Developers critical of the IFP, such as imaginary_username, emergent reasons, Dagur, Jonathan Silverblood, Leandro DiMarco, and Sploit, among other volunteers, took their ire and helped found initiatives like Flipstarter and BCHN in response. Flipstarter, a trustless, non-custodial assurance contract platform, began its proof of concept run with a successful campaign for EatBCH, a valued Bitcoin Cash community charity working in Venezuela and South Sudan.

The current nodes campaign, still ongoing among the remaining four participants, looks to help raise 3,039 BCH between all five nodes, slightly over $700,000 at current pricing. Bitcoin ABCBCHD, Bitcoin Verde, and Knuth are continuing their drives through early May (prominent implementation Bitcoin Unlimited, considered already well-funded, has abstained). A quirk of Flipstarter, however, means campaigns only receive funding if the entire amount of BCH sought is reached. So far, only BCHN has activated donations.


Bitcoin Cash

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DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.