Blockchain developer Protocol Labs has launched a multi-million dollar research grant program.
The startup, which is behind projects such as Filecoin, IPFS and Coinlist, on Tuesday announced a Request for Proposals (RFP) program that will see an initial $5 million put towards research efforts. Successful bids will receive grants between $5,000 and $200,000, the company said in a statement on its blog.
Protocol Labs explained:
The firm listed a number of projects on its Github page for developers to look into as a starting point. However, "Due to the open-ended nature of these problems, it’s worth noting that we may end up choosing more than one proposal per open problem," it stated.
Research applications will be judged on the quality of the proposed research and relevant experience of the individual or team. Completed solutions are not eligible to apply, states the post.
Solutions must be open source, and therefore accessible to the broader developer community.
To support the effort, the company further announced it is hosting meetups and other events to help facilitate discussion around the technical problems that need solving to improve the space. Further, if the scheme proves successful, Protocol Labs hopes to expand the program in future.
Miniatures and coins image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.