The Web3 Foundation, the non-profit entity behind Polkadot, has financed a new bridge to link the multi-blockchain network to bitcoin.
London-based developer house Interlay will receive funding from Web3 to build a "BTC-Parachain" to bring bitcoin-backed assets onto Polkadot.
A regulated entity in Switzerland, the Web3 Foundation has been issuing grants, anywhere between $3,000 and $100,000, to projects looking to build on the Polkadot platform since the start of 2019.
Web3 has so far financed nearly 100 project in five separate funding waves, according to its GitHub page.
Other projects supported by Web3 include a Metamask plugin, an interoperability bridge with EOS and a parachain linking Polkadot to the prospective Libra ecosystem.
In October, Web3 created a Polkadot ecosystem fund together with Polychain Capital.
It's unclear how much funding Interlay received from Web3.
A Web3 spokesperson said the company did not disclose grant amounts per team.
UPDATE: A previous version of this article said the Web3 Foundation had funded 60 teams.
Comment from a Web3 spokesperson has also been added.
Web3 Foundation Funds Technical Bridge Connecting Polkadot to Bitcoin
gepubliceerd op Mar 5, 2020
by Coindesk | gepubliceerd op Coinage
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.