Sometimes people just make useful software in their spare time and make it free and open source for the entire world to use.
This is the case with Bitcoin itself, but also Sparrow, I believe.
If the software is particularly useful, some people will simply donate to the effort, which can lead to the developer(s) being able to work on the project full time.
I think Sparrow used to get money from mixing, but they removed that future. Still, I think that was more of an add-on; really, the motivation was as you describe.
I don't believe they did, actually. Per my understanding, the Whirlpool feature in Sparrow was just an implementation of the open protocol, simply allowing you to join the Samourai mixing network without using Samourai software.
Electrum offers two-factor authenticated wallets, with a remote server acting to co-sign transactions, adding another level of security in the event of your computer being compromised.
The remote server in question is a service offered by TrustedCoin. Here is a guide on how it works 1
Exodus overcharges users on their exchanges for the sake of the convenience but at least they have money to stick around. Wallet is a wallet, use it with caution
I can only speak for Sparrow: there is no fee to use it. It's one guy (Craig Wright) and he accepts donations. I've donated several times and I would suggest anyone/everyone do the same for the FOSS products they use on the regular.
Well core was the first wallet and will always be there, it's up to people to find ways to monetise their efforts, some will do it open source and work with donations, others will couple their wallet with other premium services or as part of a tech stack
IE blockstream does a whole lot of things and offers a wallet almost like Microsoft offers an email client as part of its office stack
You'll get wallets with LSPs and running routing nodes that earn fees that way, although I doubt it offers much of a revenue driver right now
Before the crackdown Wasabi and Samaouri had a healthy revenue through coinjoin coordinating
Some companies might also fund or buy equity in these businesses and run it as loss leader because it helps onboard users
I've actually wondered this myself. The way I look at it, is people that create things are like monks to an extent. They don't do it to get rich, rather contribute towards hyperbitcoinization.
I don’t think they have one. Phoenix makes money when you open a channel through them, as well as 0.4% on the routing fees.
They should really sell merchandise to help pay themselves. I’d love an electrum or a Sparrow T-shirt if I knew the sats were going directly to the developers.
I don’t think they have one. Phoenix makes money when you open a channel through them, as well as 0.4% on the routing fees.
They should really sell merchandise to help pay themselves. I’d love an electrum or a Sparrow T-shirt if I knew the sats were going directly to the developers.
Footnotes