Nervos Network, a blockchain ecosystem created by some of the most prominent names in the sector, announced a new grants fund on 9 December. The goal of the fund will be to help advance the development of the ecosystem surrounding the project’s permissionless layer one blockchain called the Nervos Common Knowledge Base (CKB).
The company behind the technology was founded by the creators of widely popular crypto ventures such as Spark Pool, imToken, and Cryptape, as well as people who had previously been involved with Bitcoin and Ethereum core research and development.
The goal of the project is to solve challenges that already-established blockchain such as Bitcoin and Ethereum face by building an ecosystem of evolved open-source decentralized protocols.
To speed up progress the company will begin granting awards to individuals, teams, and projects. Initially, the $30 million grants program will focus on infrastructure development i.e. client protocols, IDE, cross-chain interoperability, smart contract language and tooling, and UDT-related ecosystem support.
As time goes by, the team will begin funding other endeavors, such as community management, applications/use cases, and research.
Kevin Wang, co-founder of Nervos, commented on the grants program’s main goal:
“We believe that building a truly decentralized network requires the contributions and efforts of the entire blockchain community. As a bootstrapped, fully open source network, we want to empower anyone who shares a common vision to help build Nervos into a public resource for the decentralized economy.”
Back in November 2019 Nervos launched their Lina mainnet, marking an important milestone in the progress of the project. Since then the company has been working closely with major financial institutions such as China Merchants Bank and Huobi, focusing on building blockchain-based fintech.
Applications for the grants program are open to anyone and will be judged publicly by the wider blockchain community.