Simplify Logo

Full-Time

Protocol Software Developer

Posted on 5/31/2024

Foundry Digital

Foundry Digital

51-200 employees

Capital access and advisory for cryptocurrency mining

Fintech
Crypto & Web3

Compensation Overview

$80k - $140kAnnually

+ Bonus + Incentive Compensation

Junior

Rochester, NY, USA

Category
Backend Engineering
Software Engineering
Required Skills
Python
Blockchain
Requirements
  • Bachelor’s or Master’s degree in computer science, engineering, or closely related field
  • 2+ years experience in software development
  • Proficiency in programming languages, mainly python
  • Proficient with software engineering design principles
  • Strong problem-solving skills and the ability to thrive in a fast-paced environment
  • Effective communication skills to collaborate with cross-functional teams
Responsibilities
  • Discover, build, and maintain protocol solutions combining AI and blockchain technologies
  • Design, develop, and optimize protocols for AI and blockchain applications
  • Implement and test protocol enhancements for compatibility, scalability, and security
  • Collaborate with researchers, data scientists, and blockchain experts to prototype novel solutions
  • Contribute to open-source projects and engage with developer community for feedback and iteration on protocol designs
  • Stay updated on industry standards, best practices, and regulatory requirements related to AI and blockchain protocols

Foundry Digital provides services to enhance capital access, efficiency, and transparency in the digital currency mining and staking industry. The company supports institutional clients, such as large-scale bitcoin miners and equipment manufacturers, by offering equipment financing, advisory services, and operational support. Mining involves using powerful computers to validate blockchain transactions, while staking requires holding cryptocurrency to support network operations. Foundry helps clients optimize their operations to ensure profitability. The company differentiates itself through its extensive institutional expertise and market intelligence, leveraging resources from its parent company, Digital Currency Group. Foundry's goal is to empower clients in the rapidly evolving digital currency market.

Company Stage

N/A

Total Funding

N/A

Headquarters

Rochester, New York

Founded

2019

Growth & Insights
Headcount

6 month growth

6%

1 year growth

-5%

2 year growth

6%
Simplify Jobs

Simplify's Take

What believers are saying

  • Foundry's strategic expansion into Texas and acquisition of mining sites from Compute North positions it well to capitalize on the growing bitcoin mining industry in the region.
  • The launch of Foundry Hardware products, such as the Power Supply Unit and Immersion Optimization Kit, enhances operational performance and offers inventory flexibility, making it an attractive option for institutional miners.
  • Partnerships with companies like Flock.Io and Graphite Connect highlight Foundry's collaborative approach and potential for growth through strategic alliances.

What critics are saying

  • The volatile nature of the digital currency market, including fluctuations in bitcoin prices, can significantly impact Foundry's revenue and profitability.
  • The company's reliance on institutional clients means that any downturn in the institutional investment in digital currencies could adversely affect its business.

What makes Foundry Digital unique

  • Foundry Digital leverages its parent company Digital Currency Group's extensive institutional expertise and financial resources, providing a significant edge over smaller competitors.
  • The company's focus on both mining and staking services allows it to cater to a broader range of institutional clients, unlike competitors who may specialize in only one area.
  • Foundry's recent launch of the Foundry Hardware suite demonstrates its commitment to innovation and operational efficiency, setting it apart from other service providers in the digital currency mining sector.

Benefits

Competitive base salary, bonus & incentive compensation

Unlimited PTO

Professional development budget

Health insurance

Life insurance & disability coverage

401k

FSA

Paid parental leave

INACTIVE