Unchained, a familiar name in the Bitcoin space, has recently announced an important initiative to help Bitcoiners establish a long-lasting legacy with the Bitcoin Legacy Project. This inaugural project starts with a $1 million investment. Our ultimate aim is making long-term development, education, and advocacy efforts within the Bitcoin ecosystem as robust as possible. This commitment reflects a dedication to ensuring Bitcoin remains a robust, sovereign, and unbreakable digital currency for generations to come. The project’s efforts center around seven important pillars aimed at fostering an enriched Bitcoin network and community.

The Bitcoin Legacy Project is intended to positively influence Bitcoin’s ecosystem by simultaneously advocating from several different angles. We are building a Bitcoin-native DAF (donor-advised fund) platform. Further, we will fund for community hubs in order to empower communities, advocate for education and open-source development, and practice long-term sustainability. Each element has been thoughtfully designed to have the most positive ripple effect possible to help support the ongoing diversification and decentralization of Bitcoin. Unchained believes in transparency. We’ll be providing annual reports that will demonstrate to the community how we’re using these dollars and the great things we’re accomplishing in our ecosystem.

We believe this initiative is particularly important because it aims to tackle some of the most pressing challenges to Bitcoin’s long-term sustainability. By providing resources for developers, educators, and advocates, the Bitcoin Legacy Project helps to ensure that Bitcoin continues to evolve and adapt to the changing needs of its users. It helps to motivate the development of a dynamic and robust constituency. This is important, not just for the success of CityCoin, but for the future success of any decentralized technology.

Key Components of the Bitcoin Legacy Project

The Bitcoin Legacy Project consists of four main components, each aimed at meeting a distinct and important need in the Bitcoin ecosystem. These projects are distinct from the Bitcoin-native DAF, support for Bitcoin hubs, and work around education and open-source development.

Bitcoin-Native Donor-Advised Fund (DAF)

A Bitcoin-native DAF is a unique, modern approach to charitable giving designed exclusively for the Bitcoin community. It facilitates donations that come in, are held in, and donated as Bitcoin, avoiding the step of converting cryptocurrency into fiat currency. The assets inside the DAF are still on-chain, but they're now secured in a 2-of-3 multisignature vault. This gives donors complete transparency and verifiable proof of their funds at any given moment.

Donors can deposit bitcoin directly into the DAF. They can choose to keep it in Bitcoin within the DAF and donate it directly in Bitcoin to the non-profits of their choice. This turn-key process makes donating incredibly easy. It eliminates many of the costs and complications associated with traditional DAFs, which often require the conversion of Bitcoin to US dollars. The Bitcoin DAFs on the Unchained platform are protected by world-class security protocol. These protections protect more than 98,000 Bitcoin owned by over 8,000 customers. Multisig vaults are protected by many keys, requiring several parties to authorize unlocking funds. That kind of approach improves security and fosters trust among everyone included.

Support for Bitcoin Hubs

Bitcoin hubs are necessary for ensuring that innovation, community and education are central pillars of the growing Bitcoin ecosystem. These hubs serve as physical and virtual spaces where developers, entrepreneurs, and enthusiasts can come together to collaborate, share ideas, and work on new projects. Unchained’s Bitcoin Legacy Project understands the value these hubs create, and is dedicated to funding their growth and development.

Providing open-source education and development is key for Bitcoin to grow, adapt and thrive as a decentralized network. BTC LP recognizes the role of education and open-source development in creating a vibrant Bitcoin ecosystem. It is committed to advancing efforts that grow these critical fields. The project offers a variety of resources for developers, educators, and researchers. The whole package helps to make sure that Bitcoin remains the most innovative and widely available technology to the entire world.

  • Encourages innovation and development: Bitcoin hubs provide a platform for developers, engineers, and entrepreneurs to come together, share ideas, and work on new projects, driving innovation and growth in the Bitcoin ecosystem.
  • Fosters a community of like-minded individuals: Bitcoin hubs bring together people who are passionate about Bitcoin, creating a sense of community and shared purpose, which is essential for the long-term success of the network.
  • Supports education and awareness: Bitcoin hubs often host events, conferences, and workshops, educating people about Bitcoin, its benefits, and its potential, helping to increase adoption and understanding of the technology.
  • Provides a hub for talent and expertise: Bitcoin hubs attract top talent and experts in the field, creating a concentration of knowledge and skills that can help drive the development of Bitcoin and its applications.
  • Helps to build a robust and resilient network: By supporting Bitcoin hubs, we can build a more robust and resilient network, with a diverse range of participants, developers, and users, which is essential for the long-term success of Bitcoin.

Education and Open-Source Development

This means encouraging educational initiatives that help people better understand Bitcoin, the technology behind it and its various use cases. In addition to its grants program, it helps fund open-source development projects that contribute to the betterment and maintenance of the Bitcoin network. By prioritizing education and open-source development, Unchained is contributing to a more knowledgeable, creative, and capable Bitcoin community.

The Bitcoin Legacy Project is a major step toward the long-term sustainability and decentralization of Bitcoin. Unchained is committed to supporting developers, education, infrastructure and advocacy. This ongoing commitment goes a long way in making sure that Bitcoin can be a strong, sovereign and unbreakable digital currency for future generations of users. The project’s creative model includes a Bitcoin-native DAF and extensive support for Bitcoin hub development. This strategy is poised to make a long-term, positive impact on the Bitcoin ecosystem.

The Bitcoin Legacy Project represents a significant commitment to the long-term sustainability and decentralization of Bitcoin. By supporting developers, education, infrastructure, and advocacy, Unchained is helping to ensure that Bitcoin remains a strong, sovereign, and unbreakable digital currency for generations to come. The project's innovative approach, including the Bitcoin-native DAF and support for Bitcoin hubs, is poised to have a lasting impact on the Bitcoin ecosystem.