Nervos Unveils $30M Grant Program to Attract Developers to Its DLT Network

Nervos Network (CKB), a multi-asset, store of value blockchain network established in 2018, has rolled out a $30 million public grants program to motivate individuals, teams and blockchain projects to build applications upon its permissionless layer one distributed ledger technology (DLT) platform dubbed the Nervos Common Knowledge Base (CKB), reports Enterprise Times on January 13, 2020.

Nervos $30M Blockchain Grant Now Live

While there are thousands of blockchain technology projects currently in existence, only a handful of these projects are dedicated to promoting the ethos of distributed ledger technology (DLT) and Nervos is poised to put its name among the chosen ones.

Per sources close to the matter, Nervos Network has launched its public grants fund aimed at attracting developers to its network and accelerate the growth and development of its ecosystem.

The Nervos team hopes the grants will enable participating individuals and development teams to get the resources they need to build and deploy new solutions on the Nervos Network.

The team has made it clear that the grants will be awarded to blockchain developers across multiple project categories including infrastructure development, creation of decentralized applications (dApps), research, community building, and more.

Nervos Aiming for the Moon

Co-founded by Kevin Wang in 2018, the Nervos Network reportedly raised $28 million during its Series A funding round in July 2018, before generating another $72 million from its token sale conducted on Coinlist in October 2019.

Now, Nervos Network is determined to channel these funds into boosting its network’s growth and development, to enable it to compete with established projects like Bitcoin (BTC), Ethereum (ETH), TRON (TRX) and others.

Commenting on the new public grants program, Kevin Wang, co-founder of Nervos Network said:

“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. The blockchain ecosystem is rooted in open source philosophy, so it’s incredibly essential for us to build an inclusive platform that reflects the visions and contributions of the people in it.”

The team says the new grants fund will allow it to fund blockchain innovation and facilitate collaboration across the entire blockchain industry.

Initially, Nervos Network will award its grants to developers and projects looking to create client protocols, integrated development environments (IDEs), smart contracts language and tooling, cross-chain interoperability solutions and more.

At press time, the price of Nervos’ native CKB altcoin sits at $0.0060, with a market cap of $78.62 million as seen on CoinMarketCap.