The Dfinity Foundation has authorized funding to the tune of $223m in order to lure prospective developers to build on its new Internet Computer.
- Gigantic new fund available following the initial $14.5m Beacon Fund which was announced last September.
- Developers will be able to work on an infinitely scalable, self-governing blockchain platform that is capable of running smart contracts at web speed.
- Andreessen Horowitz and Polychain capital among big-name investors already involved in the project.
Following the resounding success of the initial launch, which has already seen almost 500 canisters (advanced smart contracts) built on the platform in under 3 weeks, Dfinity has made the massive investment available in order to further its aim of transforming the internet into a decentralized global computer.
The CEO of Polychain Capital, Olaf Carson-Wee whose firm was partly behind the funding stated that his company is:
Excited to fund products and services that are native to the new system instead of porting to web 3.
Known as the Developer Ecosystem Program, the fund will ensure that the brightest and the best minds are ingratiated into the community. Referring to the grant, the Chief Scientist and Founder of Dfinity, Dominic Williams said:
The aim is to support the imagination of all services and systems on the public blockchain.
Undoubtedly, the enormous war chest released by the foundation will enable this to happen on a monumental scale.
The grant is designed to attract developers for infrastructure projects, such as block explorers, accelerators, oracles and applications that boost the exponentially growing user base. There is a further focus on Canister Development Kits (CDK) and agents, Developer Tooling (Logging libraries, debuggers), Open Internet Services as well as Integrations and API (maps, chats and emails). The best news for investors in $ICP is that the grant program is a non-dilutive form of financing projects.
The foundation will be anticipating a wave of talent to bolster its already impressive ranks, having already built decentralized apps (dApps) such as Dscvr, an ‘open version of the front page of the internet’, IC drive for decentralized storage, ORIGYN, a dApp designed to detect counterfeit goods and Fleek, a decentralized hosting and storage facility for developers to name but a few.
If you're interested in building the next generation of open internet services on the Internet Computer, apply for a grant at dfinity.org/grants