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Bountysource Partners With Mastercoin Foundation to Launch Cryptocurrency Software Bounty Program

Open-Source Development Platform to Handle Software and Hackathon Bounties

AMSTERDAM, THE NETHERLANDS -- (Marketwired) -- 05/15/14 -- [BITCOIN CONFERENCE 2014] -- Developers of the Master Protocol (http://www.mastercoin.org/), a programmable money layer created by J.R. Willett on the Bitcoin blockchain, today announced their partnership with Bountysource (https://www.bountysource.com), a funding platform for open-source software, to aid Mastercoin in its offerings and deployments of bounties for programmers.

Mastercoin will create bounties, paid in Bitcoins, on the Bountysource platform. These bounties can be converted into Mastercoins and paid out to developers who solve engineering challenges on the Master Protocol. Bountysource provides the tools needed to maintain large, distributed bounty programs with GitHub integration, workflow management and global payment options for developers.

"The developer community has already come up with some forward-thinking and innovative, decentralized applications for the Master Protocol," said David Johnston, managing director of the Mastercoin Foundation, the non-profit organization associated with the protocol and software. "We're excited to see what fruit this new arrangement with Bountysource will bear."

"Since its integration into Bountysource, Bitcoin payments have comprised roughly 30 percent of our total transactions," said Warren Konkel, Bountysource's CEO and co-founder. "Cryptocurrencies will play a major role in the future of software development. Opening up the amazing opportunities that the Master Protocol provides to our community is a large step in that direction."

For more information about the Master Protocol on Bountysource, please contact press@bountysource.com.

About Bountysource
Bountysource is an online workplace that helps software development teams find, direct and reward contributors who advance open-source projects. In addition to software bounties, fundraisers and team donations, integration with existing tools (such as GitHub and Bugzilla) allow developers to earn a living writing open-source.

About Mastercoin
The Master Protocol facilitates the creation and trading of smart properties and user currencies, as well as other types of smart contracts. Mastercoins serve as the binding between bitcoins (BTC), smart properties and smart contracts created on top of the Mastercoin Protocol. Mastercoin enables Bitcoin eco-system service providers to function in decentralized and peer-to-peer mode. To learn more about Master Protocol, please visit http://www.mastercoin.org.

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