The social media giant will offer a $30,000 reward to the first company to create a free app that is compatible with the browser’s block explorer and allows users to navigate around Bitcoin’s blockchain by name, the company announced on Wednesday.
The company will offer the reward for the first startup to open an app with a “clean, reliable” interface and provide a “safe and simple” experience for users, the announcement said.
It did not say how the app should work or if it would be available on the web or mobile.
Moz CEO Christopher Anderson said in a statement that he was “deeply enthusiastic” about the idea.
“We’re committed to bringing the world of cryptocurrencies and blockchain to as many people as possible and the opportunity to help them do that is exciting,” he said.
“Blockchain explorers are a vital part of our ecosystem and one of the reasons we are so passionate about exploring the technology.”
Moz launched the explorer earlier this year and added an option to add an explorer to its main browser.
The announcement comes amid a fierce debate over the ethics of the Bitcoin mining process.
It has become a point of contention in the US Senate, where the Senate is considering legislation that would allow companies to bypass a number of regulatory requirements and allow for the production of bitcoins without a central clearing house.
Anderson has said the company will not allow miners to mine bitcoins without their own mining hardware.
The company will be the first to test this capability in the company’s browser, the Moz explorer, on the next release of the Firefox browser, Mozilla said.
The move comes as Bitcoin has been gaining in popularity in China, a market with a long history of legal, illegal and tax issues.
In June, Bitcoin’s price plunged by more than 80% in a single day as China’s state-run media criticized the cryptocurrency for its high price volatility and a lack of regulation.
Bitcoin mining is one of several ways that the cryptocurrency can be used in Chinese online commerce, which is dominated by a network of unofficial websites and services that provide bitcoin-based services to the masses.
The bitcoin price surged more than 1,500% last year, though it has dropped nearly 60% since.