The old business model that crammed 50 coders into one cold and sterile room has taken its place in the history books. New tools and processes have arrived to increase efficiencies and fully leverage latent global resources, subsequently updating the Software Development Life Cycle (SDLC).
This is where Gitcoin comes in. Gitcoin is a platform for freelance coding jobs that supports the modern software development community. Gitcoin “contributors” or freelance coders produce more code in less time compared to traditional SDLC processes. This is due to streamlining workflows, immediate payments processing, and innovative measures used to find and retain top talent.
TLDR of Why You Should Use Gitcoin:
- Open source software (OSS) developers create an enormous amount of economic value.
- Unfortunately, today’s business models do not adequately incentivize the value they create for this industry.
- The mission of Gitcoin is to lead the growth and development of the open source community by offering bug bounties for projects.
- Gitcoin optimizes the OSS life cycle by a factor of ten.
- Currently, there are 27 full-time Bounty Hunters hired by Gitcoin.
- Hourly wages vary by experience and skill and average between $19 to $64 per hour.
- The bounty completion rate is over 85%, and the median turnaround date stands at 11 days.
Faster Workflows with Github Integration
Once approved, freelance coders can jump right into software development projects to see the exact parameters of a bounty funder’s request. There the funder can also, track, approve or reject their contributions.
Improved Payments Processing for Freelance Software Development
Through Gitcoin, freelance coders can expect projects that offer fast and reliable payments. Funders of these projects (or bounties) are assured of a highly capable and dedicated workforce. Payments are securely held in escrow within a Smart Contract until work is validated. After the work is completed and validated, contributors receive a crypto payment within minutes of validation. Available cryptocurrencies for payments include ETH and various ERC 20 tokens.
Retain Top Freelance Coders with Rewards
Gitcoin provides unparalleled incentives for remote coders. Kudos, a type of reward token, is an example of the platform’s revolutionary approach. These tokens can be used to show appreciation for member contributions and as a way to showcase advanced coding or project management skills.
Benefits of Working Remotely for Programmers
Experienced remote coders are more efficient and effective than traditional programmers crammed into an office for several reasons. The most documented reason is the work-life balance as remote workers save time, money, and have a generally less stressful work environment.
Increased productivity and better health are linked to working from home. Further, cutting down or eliminating the office commute cuts down on carbon emissions. So not only are they more efficient, but remote workers also have a positive effect on the environment.
Work does not need to take place only at home. Remote coding jobs encompass a broad spectrum, as the work environment can be any place that is comfortable for the individual (and has a strong wi-fi connection.) Although creating a home office can incur significant startup costs, in the long-run, working from home has proven to be more economical and efficient. Remote workers also tend to be more incentivized, as they have more control over their daily schedule, save on commute time, and can keep more of their income.
While each of these factors alone is significant enough to warrant the transition out of the office, there are even greater reasons for pursuing remote freelance development jobs. Intangibles are difficult to asses in a rapidly advancing industry. Programmers exist in a constant state of innovation. Keeping a workplace on pace with innovation, which also suits the diversity found among programmers, is an incredible challenge. The good news is that computers continue to become a more intimate part of life. It is time for remote work tools to match the trend.
How Gitcoin Makes Remote Work Easier
Gitcoin is a work facilitator. The platform creates a practical solution for remote freelance development jobs. Within five years, software development solutions will face significant advancement due to this development. Software developers around the world will have substantial work and speedy payments at their fingertips, fueling the development of open source projects at a faster rate. The security of blockchain technology and the streamlined workflow behind Gitcoin makes it possible for freelance coders to connect with open development projects.
Crypto payments are another advantage, as crypto payments are secure, and finalize much faster than traditional financial transactions. Moreover, payments via cryptocurrency are dynamic. Workers do not need to wait 60 days or chase down clients for compensation. Contributors are enabled to receive their funds as soon as a job is done. Traditional finances do not work this way. Since cryptocurrency fees are part of each transaction that is recorded on a blockchain, payments can be made via an instantaneous mechanism within smart contracts.
In the near future, businesses should expect to see more transactions conducted through cryptocurrency. Crypto payments enable enterprise software development projects to be carried out swiftly, easily, and internationally.
Coders Can Choose from Various “Open Bounties” or Project Types
As the Gitcoin platform continues to grow and attract new projects and founders with unique needs, Gitcoin “contributors” or freelance coders have many work options available to them. Contributors have the freedom to choose freelance coding jobs based on the topics that interest them. Funders supply bounties that encompass a broad range of objectives, such as squashing bugs or building new features. Bounties are increasingly diverse because the platform can handle just about any issue that Funders can think of.
Funders create a project first on Github and then transition to Gitcoin. Therefore, whatever languages and talents one might expect on Github, can be anticipated to find their way onto the Gitcoin Issue Explorer.
Platform Statistics: Gitcoin Usage and Adoption
Total platform value of Gitcoin is approaching USD 1.5 million. Currently, there are 27 full-time Bounty Hunters hired by Gitcoin. Hourly wages vary by experience and skill and average between $19 to $64 per hour. The bounty completion rate is over 85%, and the median turnaround date stands at 11 days. Gitcoin is growing quickly and continues to gain the respect of high-level programmers. To see more Gitcoin statistics, click here.
Jump-start Tutorial: Completing Bug Bounties for Crypto
Using the Gitcoin platform to give bounties to solve bugs is easy. Gitcoin is designed to streamline projects by skills, which allows programmers to immediately begin working. Project Funders do not need a detailed knowledge of the platform, as the instructions are straightforward and come with an array of options. The dynamic nature of Gitcoin means that contributors/coders will have many options of jobs to choose from as well. Gitcoin is designed to bring the open source development community together. This is evident in the simplicity of using the platform.
STEP 1. FUNDER (Seeking Coders): CREATES PROJECT
- The individual needing a software development project/task completed, known as the “Funder,” creates an issue on Github.
STEP 2. FUNDER (Seeking Coders): CREATES GITCOIN ISSUE
Funder creates an issue on Gitcoin to:
- Determine project type
- Set parameters
- Fund the issue/task/project with monetary reward
- Set permissions
STEP 3. CONTRIBUTOR (Coder Seeking Jobs): VIEWS ISSUE EXPLORER
- “Contributors” or freelance coders, explore the open bug bounties or jobs available on the Gitcoin Issue Explorer.
STEP 4. CONTRIBUTOR (Coder Seeking Jobs): EXPRESSES INTEREST
- A contributor/coder expresses interest in solving an issue by answering a few questions defined by the Funder.
STEP 5. CONTRIBUTOR (Approved Coder): BEGINS WORK on FREELANCE PROJECT
- The contributor/coder begins working on the selected issue unless permissions are enabled: If permissions require, Contributors wait for approval of their Request to Work
- Then, Funders must approve the Request to Work via email notice
STEP 6. CONTRIBUTOR (Approved Coder): SUBMITS WORK
Contributor submits completed tasks:
- Contributors have a “Stop Work” option if they cannot continue.
- Another coder will then have the opportunity to pick up the work.
STEP 7. ACCEPTED SUBMISSIONS
- Contributors submit their work for review by a repo maintainer/owner who determines if the deliverables have been met.
STEP 8. CONTRIBUTOR GETS PAID IN CRYPTO
- Once the repo maintainer’s approval has been logged, it becomes an “Accepted Submission.”
- Funds are released to the Contributor(s).
How Funders and Remote Contributors Work Together
Funders determine much of the exchange of the ecosystem, as supply the projects. Funders begin by creating an issue on Github and then transition onto Gitcoin. Now on a dynamic, open source platform, Funders decide on the project type to be completed. The “Fund Issue” form also includes permissions (if any) to ensure a high-level Contributor talent pool. Funders then wait for Contributors to express their interest.
Contributors begin by exploring the Gitcoin Issue Explorer. There, Contributors can find bug bounties supplied by the Funders and can start working on various projects immediately. Contributors receive a prompt email responses for those projects that require permissions. Contributors also have the option of passing off an issue if they are unable to continue for any reason.
Issues require approval once they are submitted. Funds are released only after the appropriate party approves the completed work. One of the impressive concepts about Gitcoin is how multiple Contributors can come together to complete an issue. This is an attractive option for both Funders and Contributors. Community collaboration with such ease leverages the power of online talent in an innovative way.
New Solutions for the Open Source Software Development Lifecycle
Open source software (OSS) developers create an enormous amount of economic value. Unfortunately, today’s business models do not properly incentivize the value they create for this industry. As securing funding is among the most daunting challenges, OSS developers, coders, designers, and data scientists were not being adequately compensated to their OSS contributions before Gitcoin.
Gitcoin introduces a method that brings about new solutions. Its bounty-based collaborative tools leverage the power already available through Github. The advantages are so profound that Gitcoin optimizes the OSS life cycle by a factor of ten.
Through Gitcoin’s platform, Funders now have a larger, more relevant, and efficient pool of experienced workers and Contributors have many open projects to choose from.
The mission of Gitcoin is to lead the growth and development of the open source community. Gitcoin achieves this by prioritizing the available skills in the community toward more efficient collaboration while providing fast and reliable monetary incentives. Other incentives and community intangibles are accounted for as well. Most notably, Kudos provides a way to encourage like-minded community members and boost reputations.
Gitcoin also tackles the issue of scalability. By using a funding model that makes use of blockchain technology, it is a scalable and decentralized solution that solves the software paradox. Gitcoin understands the needs of developers and trends occurring in the software industry. It provides an efficient means to move the future of software development onto a decentralized blockchain. Gitcoin leverages existing strengths within the open source community that are going unused every day.
Gitcoin is about getting more done in less time. It is an efficient platform that supports the changing needs of software development firms and the open source community. Unlike other platforms, Gitcoin includes incentives as a fundamental aspect. Contributors have the comfort of a reliable payment system and streamlined platform. Funders gain an easy-to-use project submission tool with the assurance of a dedicated and qualified workforce. Gitcoin is a much needed and complete solution for the open source ecosystem.
Let us know what you think! What features of Gitcoin are most useful to you?