• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Dfinity unveils $220M fund for internet computer [ICP] ecosystem
Dfinity Unveils $220M Fund for Internet Computer [ICP] Ecosystem

Dfinity unveils $220M fund for internet computer [ICP] ecosystem

May 26, 2021 by Chayanika Deka

To maintain the Internet Computer [ICP] blockchain network, a not-for-profit organization called Dfinity Foundation has announced the launch of a grant fund of nearly $220 million [200 million Swiss francs]. Dubbed ‘Internet Computer Developer Ecosystem Program,’ this resource is aimed to aid in financing the development of the blockchain network.

With the Developer Ecosystem Program, the organization plans to deploy the amount to entrepreneurs and developer teams, supporting the growth of a new ecosystem of decentralized applications [dapps] and services on the open web. An important part of the program will also involve “non-dilutive financing” in the form of developer grants.

Following the latest development, DFINITY founder and chief scientist Dominic Williams remarked,

“The Internet Computer redefines public blockchain as a platform that can now run smart contracts at web speed, that can serve web directly to users, that can increase its capacity with demand as needed, that is efficient, that governs itself, and that can provide better usability than those systems built on traditional technology.”

According to the official announcement, this program is also set to offer non-dilutive grants to teams building on the ICP network and will run separately from the Beacon Fund, which is a venture fund focused on supporting entrepreneurs building open internet services on it.

Internet Computer’s rise to fame

ICP
Dfinity unveils $220M fund for internet computer [ICP] ecosystem 3

Internet Computer was the latest cryptocurrency to have made a splashy debut in May after it went on to become one of the largest digital assets. It started trading nearly $600 in the second week of the month but fell shortly after the subsequent market pullbacks.

At the time of writing, ICP’s price stabilized at around $142.9 with a market cap of $17.7 billion and a 24-hour trading volume of $455.

ICP In Brief:

The ICP digital token runs on its own proprietary protocol called Internet Computer Protocol. The value proposition of this is to enable anyone to develop software or publish content on the Internet instead of using services from already established biggies such as Amazon, Google, or Facebook. The ecosystem aims to provide a “better deal” for users while allowing them to build in a truly decentralized manner.

Filed Under: Altcoin News, News Tagged With: ICP, internet computer

Primary Sidebar

Recent Posts

  • Cryptocurrency balance freeze of Vauld: Indian saga August 14, 2022
  • Vauld’s Legal Woes Mount After ED Freezes Assets Worth $46M August 12, 2022
  • XRP Rewards Programs Now In Japanese Shinsei Bank August 12, 2022
  • Trexpunks Boosts NFT Market Sentiment With New Features August 12, 2022
  • Pets vs Pets August 12, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.