IOHK Presents Project Catalyst Fund For Cardano Innovation
Cardano has been making headlines a lot lately, due to their various achievements and bold plans.
Now, it’s been revealed that IOHK, the technology company behind Cardano (ADA), unveiled a public fund that aims to help push the platform’s decentralization to the next stage.
The fund, called Project Catalyst, will allocate money to pay for proposals that are approved by members of the community, according to the latest reports.
In the official blog post that’s been published a few days ago, IOHK said that it is funding $250,000 worth of ADA to support Project Catalyst.
The main target of this project is to encourage developers to build dApps for the Cardano blockchain.
It’s important to note the fact that the members of the Cardano community can compete for the funding to implement their projects.
Another important thing worth noting is the fact that the community voting is an essential part of the Cardano’s Voltaire phase – this is set to launch by the end of the year.
“Voltaire will allow the Cardano community to decide on software updates, project funding and technical improvements with the introduction of a ‘voting and treasury system’. The system is designed to help Cardano increase its decentralization by allowing holders of the cryptocurrency ADA to directly shape the future of the Cardano network,” the online publication the Daily Hodl notes.
Here’s what the team behind Cardano has to say about this: “We are announcing the launch of Project Catalyst’s first public fund, an important first step into the world of on-chain governance, treasury, and community innovation for Cardano.”
We recommend that you check out the complete official blog post in order to learn all the available details on the matter.
Recently we have noticed an uptick in the amount of fake and unofficial #Cardano Giveaways on @YouTube again. To clarify, we are not doing any #ada giveaways! Nor will we ever ask you to send your funds to us. Please beware!
Check our statement here: https://t.co/ZOhABRz37O
— Cardano Community (@Cardano) September 17, 2020
In other news, Cardano recently released a warning about scams online.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.