Public blockchain Kadena launches $100M Web3 grant program

Proof-of-work (PoW) blockchain Kadena has launched a $100 cardinal assistance programme to promote Web3 improvement connected its platform, perchance opening the doorway to much usage cases for the layer-one protocol. 

The assistance programme is an hold of Kadena Eco, an inaugural designed to turn the Kadena ecosystem done the improvement of gaming, metaverse, nonfungible token (NFT), decentralized concern (DeFi) and Web3 projects.

Stuart Popejoy, Kadena’s laminitis and CEO, said his steadfast volition beryllium deploying “treasury resources” to fortify the semipermanent sustainability of the protocol.

Web3 participants request to admit its imaginable to revolutionize information successful assorted fields. https://t.co/pf6seKA2hc

— Cointelegraph (@Cointelegraph) March 14, 2022

Web3, which has go a benignant of catch-all operation for the adjacent iteration of the blockchain-powered internet, has received sizeable attraction from task capitalists. Cointelegraph precocious reported connected the motorboat of 2 Web3 developer funds from crypto exchanges KuCoin and CoinDCX valued astatine $100 cardinal ar $135 million, respectively.

Meanwhile, decentralized node providers are stepping up to supply the infrastructure needed to beforehand Web3 functionalities. However, the contention is steep arsenic bequest Web2 providers, including Amazon Web Services, Azure and Infura, person emerged arsenic the aboriginal infrastructure players successful the Web3 economy.

Related: Kadena terms soars by 40% aft caller protocol launches and a large speech listing

To enactment Web3 improvement connected its platform, Kadena offers scalable architecture and astute contracts backed by a PoW statement mechanics called Chainweb. Theoretically, Chainweb is said to enactment precocious transaction throughput without having to deploy layer-two scaling solutions.

Kadena’s autochthonal cryptocurrency, KDA, is ranked successful the apical 100 connected CoinMarketCap with a full capitalization of astir $925 cardinal astatine the clip of writing. KDA rallied sharply earlier this period pursuing the motorboat of a caller interoperability protocol and a Binance listing.