Blockchain

Web3 Foundation Achieves Its 400th Approved Project for Grant Support

Helping to sponsor research and development within decentralized software protocols.

Blockchain

Web3 Foundation Achieves Its 400th Approved Project for Grant Support

Helping to sponsor research and development within decentralized software protocols.

Last week, the Web3 Foundation (W3F), an institute developing tech and projects on the Polkadot blockchain, announced it passed its 400th approved project achievement through its grants program.

W3F assists Web3-based projects varying from base layer to consumer applications surrounding wallet creation, user interface (UI) software, developmental tools, APIs, and smart contract growth.

Launched in December 2018, W3F leverages its grants program to help sponsor research and development within decentralized software protocols. Sourcing projects from over 50 different countries, W3F has already picked up has picked up over 1,054 applications for its grants program.

As of press time, W3F says it has officially signed and accepted 415 projects into its program for eventual funding and continued support.

Recently, the foundation announced the approval of 40% of its total applicant submissions. The allocation of funding, according to the Foundation, split across the world with 14% from the United States, 13% from China, 8% from Singapore, as well as representation from Switzerland, Russia, England, and other regions.

It also shared that 181 teams have finalized at least one project, with 300 having already produced their first initiative.

In May, W3F launched the initial version of Polkadot, a shared protocol for decentralized blockchain networks to operate together, with the majority of W3F’s investments spread among Polkadot’s blockchain and parachains. Polkadot’s interoperability continues to attract innovation through a shared security model, enabling creators to launch their own applications and programs without sourcing independent miners and validators on a separate chain.

Through Polkadot’s parachains, creators are allowed to bridge and connect to additional blockchain networks like Bitcoin and Ethereum. You can view W3F’s publicized list of accepted applications here.

In other news, Charles Schwab announces crypto-themed ETF.

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