Chaincode Labs Inc., a New York-based research and development group, has announced a Hacker Residency Program in New York City that would benefit developers to learn the basics of bitcoin protocol.



According to the website, veteran bitcoin developer and Blockstream co-founder Matt Corallo will be joining to run the program. The program will start from the second week of September and invites coders and developers who want to immerse themselves full-time in bitcoin.



"You always hear a lot of people that want to contribute to the protocol, but find it to be really daunting. The motivation behind it is giving back to some extent and to improve the number and quality of people contributing to low-level protocol development in bitcoin," Matt Corallo told CoinDesk.com.



The Hacker Residency Program comprises of series of talks on bitcoin technologies and protocol design elements along with interactive sessions and conversations. The program will not only enable developers to learn by contributing to Bitcoin Core, FIBRE, or other bitcoin projects but also make them collaborate with established Core developers.



“If you've wanted to contribute to Bitcoin Core but found the idea daunting, or want to spend more time designing protocols based on Bitcoin, thinking about edge cases and security models with some of the top minds in Bitcoin, this is an excellent opportunity,” the website stated.



The Hacker Residency provides limited stipends to cover the costs of travel and lodging. Developers who want to attend the program, have to send an overview of their background as well as few ideas of what bitcoin projects they find interesting.



Chaincode Labs explores digital currencies and other peer-to-peer decentralized systems. It is founded by Alex Morcos and Suhas Daftuar. Alex and Suhas are active angel investors in the Bitcoin space. Previously, Alex and Suhas co-founded Hudson River Trading LLC, a global, multi-asset class quantitative trading firm that uses advanced mathematics and statistical modeling techniques to develop automated trading algorithms.