Matt Corallo

Matt Corallo is a prominent Bitcoin developer and advocate, who co-founded Blockstream, a Bitcoin and digital asset infrastructure.
Summary

Matt is a long-time Bitcoin developer and one of Blockstream’s co-founders, having been an author on our sidechain white paper and engineer on its design. He is an active contributor to Bitcoin Core, as well as the creator and maintainer of the Fast Internet Bitcoin Relay Engine (FIBRE), a protocol and implementation designed to relay blocks around the globe at the speed of light. 

Matt currently works for Chain Code Labs, contributing to Bitcoin Core and other open-source Bitcoin projects full-time and advises Blockstream on a number of technical projects and initiatives.

Biography

In 2014, Corallo co-founded Blockstream, a leading blockchain technology company focused on developing scaling solutions for Bitcoin. During his time at Blockstream, he played a crucial role in driving the company's mission and contributing to the advancement of Bitcoin's infrastructure.

After his tenure at Blockstream, Corallo joined Chaincode Labs in 2017, where he spent two years working as an engineer. Chaincode Labs is an incubator and research group that supports open-source development projects in the Bitcoin space. During his time there, Corallo actively participated in the organization's engineering efforts, further enhancing his expertise and influence in the Bitcoin community.

In 2019, Corallo took on a significant role as one of the early members of Square Crypto, a team established by Square, the payment company founded by Jack Dorsey. As part of Square Crypto, Corallo collaborates with a team of talented engineers and designers to explore ways to make Bitcoin more accessible and useful for a wider audience. This endeavor aligns with Square CEO Jack Dorsey's vision for the team and hints at the potential developments and innovations that will arise in the future.

Cointelegraph, a leading cryptocurrency news outlet, expressed its anticipation for Corallo's contributions in 2020, expecting further progress and tangible outcomes from his work with the Square Crypto team. With his extensive experience in open-source engineering and his dedication to Bitcoin's growth, Corallo continues to play a vital role in shaping the future of Bitcoin and advancing the adoption of cryptocurrencies on a global scale.

Corallo has actively participated in various open-source projects, including the BitcoinJ Open Source Project, where he wrote patches for the BitcoinJ library to implement the full Bitcoin protocol and performed thorough testing. He has also been involved in the Bitcoin Open Source Project, submitting patches and collaborating with other developers to improve the project.


Vision

Matt Corallo's vision revolves around advancing the Bitcoin ecosystem and making it more accessible to a wider audience. With a deep understanding of the technology and a commitment to open-source development, Corallo aims to contribute to the growth and adoption of Bitcoin on a global scale.

His vision encompasses leveraging his expertise in engineering and collaboration with talented teams to create innovative solutions that enhance the usability and accessibility of Bitcoin. Corallo envisions a future where Bitcoin becomes a mainstream form of currency, offering individuals and businesses seamless and secure financial transactions.

Additionally, Corallo is dedicated to fostering a decentralized and inclusive Bitcoin community, where individuals from all backgrounds can participate and contribute to its development. By promoting transparency, scalability, and security, he envisions a robust Bitcoin network that empowers individuals, disrupts traditional financial systems, and paves the way for a more equitable and decentralized future.


Recognition and Awards
Matt Corallo's achievements in the Bitcoin space are centered around his development and maintenance of the relay network, which serves as an alternative channel for transmitting transaction data and blocks in the Bitcoin network. The relay network adds diversity to Bitcoin by providing a fallback option that increases network resilience and makes it more difficult to attack. It addresses the issue of network latency, particularly for miners, by significantly reducing the time it takes to receive newly mined blocks. This improvement in efficiency helps miners maximize their revenue and profitability, ensuring a fairer and more competitive mining environment. Corallo's relay network is designed as a hub-and-spoke network with servers located in well-connected internet traffic hubs worldwide. It operates as a centralized system, controlled by Corallo himself, but serves the purpose of democratizing the mining process. By providing smaller miners with access to the relay network, Corallo levels the playing field and enables them to compete more effectively with larger miners who have the resources to establish their own private networks. This decentralizing effect helps prevent further centralization of mining power within the Bitcoin network, promoting a more inclusive and distributed ecosystem.

References
Matt Corallo
Residence
Quebec, Montreal, Canada
Occupation
open-source developer, technology entrepreneur, blockchain software engineer
Known for
Blockstream (Co-Founder), Chaincode Labs (open source developer), Square Crypto (Improving Bitcoin)
Accolades
The Fast Relay Network (also known as Matt Corallo's Relay Network)
Education
BS (Computer Science, University of North Carolina at Chapel Hill)
Social Media
Fri Feb 23 2024
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