ELI5 : What is Gitcoin?

ELI5 : What is Gitcoin?

Gitcoin is a bounty market for open source projects.

The name is a portmanteau of Git and Bitcoin, the most popular open source version control system and #1 cryptocurrency respectively.

P2P Remote Work

Cryptocurrencies, open source software and P2P decentralized work match perfectly.

Gitcoin was founded based on the fact that decentralized projects should be able to hire quality work force in a P2P fashion, not requiring a central office.

On Gitcoin, you can fund issues to increase their bounty, reward developers you believe added value to the network and, of course, developers can find work where they can earn some Bitcoin.

Bounties

Coders can browse bounties and apply. Then they attempt to complete the challenge. If the coder is able to solve what’s requested, they will get paid the specified bounty amount.

Bounties are, of course, posted in cryptocurrency. Project managers must fund the bounty offer before it goes live.

Gitcoin.co takes a small comission on successful submissions.

Video Introduction

Here’s a short introduction to the Gitcoin iOS app. You can find lots of additional instructional videos on Gitcoin’s official Youtube channel.

About Gitcoin

Gitcoin was announced in September of 2017.

The company website and several software projects are open source and hosted at Github.

The company behind Gitcoin is based in Boulder, Colorado – USA.

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