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What is the area of bitcoin that is most in need of funding?

Im biased here, but probably the boring stuff. More code review, more testing. Build system work. Maybe there is more quantum work needed "just in case".

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I'd add that work on formal verification is interesting as well.

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I saw that Vitalik published a post about formal verification earlier this month and I think I heard that Toby Sharp was also working on formal verification.