Chaincode Labs exists to support and develop Bitcoin and other peer-to-peer decentralized systems.

Chaincode's mission is to support and develop Bitcoin and other peer-to-peer decentralized systems. See projects for details of some of the research and other projects we have carried out.

We contribute to open source projects, help coordinate development efforts across the open source ecosystem, facilite training for new engineers, perform original research and build implementations of new systems and ideas. We are a well funded and staffed organization and have the resources to write software and provide critical infrastructure support.

We are not a traditional incubator but we provide opportunities for employees to innovate and bring creative ideas to market.


The Fast Internet Bitcoin Relay Engine (FIBRE) is a protocol and implementation designed to relay blocks within a network of nodes with almost no delay beyond the speed of light through fiber. It was developed to reduce miner centralization pressures and network-wide stale block rates. FIBRE is maintained by Chaincode engineer Matt Corallo.

The Chaincode Residency is a multi-week program for engineers to develop experience with Bitcoin. Chaincode has hosted several residencies focused on the Bitcoin protocol, Bitcoin Core, Lightning Network applications and the Lightning protocol.

Reliable fee estimation algorithms are a vital element of Bitcoin usability. Chaincode founder Alex Morcos designed and implemented Bitcoin Core's fee estimation algorithm.

Chaincode has contributed code, design, specification and testing for many of the recent improvements in the Bitcoin protocol and Bitcoin Core implementation. Examples are Compact Blocks and BetterHash, designed and developed by Chaincode Engineer Matt Corallo; Mempool package tracking and limiting and mining transaction selection based on ancestor fee rate(CPFP) designed and implemented by Chaincode founder Suhas Daftuar, and pruning mode, designed and implemented by Chaincode engineers.

Chaincode engineers develop, review, test and maintain the reference Bitcoin implementation.


Alex Morcos was one of the early pioneers of automated trading and co-founded Hudson River Trading in 2002, where he spent 10 years working to make markets more efficient and improve market structure. He discovered his passion for Bitcoin in 2012, and in 2014 he co-founded Chaincode with Suhas. He has enjoyed contributing to Bitcoin Core and learning about the exciting nascent field of cryptocurrency ever since.

Suhas Daftuar co-founded Hudson River Trading LLC in 2002, where he spent over a decade developing HRT into a global trading firm and helping to shape the complex policy debates surrounding technology in financial markets. In 2014, Suhas co-founded Chaincode Labs with Alex to create a place for engineers and scientists to support the development of decentralized digital currencies and further our collective understanding of how such technologies can work.

Matt Corallo is a long-time Bitcoin developer who has been contributing to Bitcoin Core since 2011. Matt helped co-found Blockstream where he co-authored the Sidechains whitepaper and implemented the Elements Sidechain. Matt also built and maintains the Bitcoin FIBRE project, the latest generation of low-latency Bitcoin block relay.

John Newbery has been contributing to Bitcoin Core since 2016. He set up Bitcoin Optech in 2018 to help Bitcoin companies adopt scaling technologies. He previously worked in telecoms and networking software.

Russ Yanofsky is a recent contributor to Bitcoin, previously worked on web search at Google and set-top video software at Videon Central, Inc.

Marco Falke previously contributed to Bitcoin Core as maintainer in his spare time. He moved to New York in 2017 to work full-time on open source software.

James O'Beirne started contributing to Bitcoin Core in 2015 during nights and weekends. Previously he worked as a programmer in automated genetic testing and electronics manufacturing.

Carl Dong is a contributor to rust-bitcoin and Bitcoin who is excited about systems engineering and incentive-compatible uses of permissionless money. He previously worked at 21 and Blockstream before joining Chaincode.

Adam Jonas previously worked as an engineer in the education space after transitioning from his former role developing the talents of professional baseball players.

We're Hiring

We're currently seeking to hire talented engineers to join our team and contribute to the Bitcoin open-source project.

Qualified candidates will be comfortable working in a small team of developers and self-motivated to help improve Bitcoin technology with the broader open-source community. We're looking for experienced candidates who are equally comfortable discussing high-level system design and digging into code to understand how it works and how to improve it. This is a unique opportunity for highly qualified engineers with a passion for Bitcoin to work on open-source projects in a collaborative research environment.

Skills and Experience:

  • Several years experience working on large software projects (prior experience working on Bitcoin or other open-source projects is even better)
  • Expertise with C++ and Unix operating systems
  • Understanding of the cryptographic principles underpinning Bitcoin
  • Comfortable reading other people's code and understanding how it works
  • Intellectual curiosity and desire to keep up-to-date with the development of cutting edge technologies
  • BS/MS in Computer Science or a related technical field

To apply send us a resume and a cover letter telling us a little about yourself and why you're interested in Bitcoin research. Feel free to include any specific projects you'd like to tackle to help improve Bitcoin!

Summer 2019 Residency

We invite you to immerse yourself in Bitcoin this summer. Chaincode Labs is hosting a Bitcoin residency program in the summer of 2019 in our offices in Midtown Manhattan, New York City.

This residency's format fuses an onboarding seminar period with a two-month project-based residency under the guidance of established Bitcoin and Lightning Network developers. This will allow residents to put their theoretical learnings to use by making meaningful contributions to open-source projects.

For full details of the program and information on how to apply, please see the Residency Website.

Contact Us

27 W. 24th St, Suite 1101
New York, NY