Grant Program Worth $100 Million Launched By Kadena To Help Enhance Blockchain Scalability

Kadena, a Layer-1 PoW (Proof-of-Work) protocol, recently announced a $100 million grant. The initiative is part of Kadena Eco, a strategic effort which brings together industry thought leaders, IT talent, and financing to stimulate the growth of Kadenas respective ecosystem.

Why is this important?

Kadena Eco is an innovation network aimed at accelerating the development and adoption of useful apps that help everyday individuals. The network makes use of Kadenas builder-centric blockchain, which allows developers to combine Web 3.0 innovation with that of Web 2.0 usability.

With that in mind, creators and entrepreneurs who want to expand on Kadena or design other important aspects of the network may now apply for the networks new funding program. The platform has dedicated $100 million to the initiative as aforementioned and is seeking contributions from high-quality, open-source projects in fields such as gaming, the metaverse, DeFi, Web 3.0 and NFTs.

All participants have to be willing to embrace Kadenas creation in the open concept by presenting meaningful content, tutorials, and product explainers across all relevant communities as well as channels. Moreover, grant submissions will be judged based on technical merit, specification details, team experience, and overall value to the Kadena ecosystem. In exchange, Kadena Eco will provide crucial coaching, in-person cooperation, and substantial financial assistance.

Future prospects

The Kadena grant program will comprise many different yet related elements. These include an R&D division that converts complicated technological ideas into practical applications, an incubator for hands-on technical development, an accelerator for early financing and coaching, and finally a venture fund that provides smart capital and operational skills.

According to CEO Francesco Melpignano, Kadena Eco will advance the evolution of blockchain technology by giving developers innovative, scalable architecture and secure smart contracts. He also stated that the teams goal is to ultimately empower inventors, entrepreneurs, and anybody else with a creative mind to keep the revenues from their work.

With blockchain, consumers may now own their digital assets and products and genuinely have digital ownership over what happens on the Internet for the first time. This was not conceivable before the development of blockchain, the CEO added, which is why Kadena Eco is assisting in scaling blockchain for the mainstream and making it available to countless people worldwide as the sector continues to experience unprecedented growth and mainstream acceptance.