Ethereum Startup Offers Grants to Open Blockchain Developers

String Labs has announced its program to award grants to innovators building on the Ethereum blockchain. Permissioned ledgers need-not apply.

May 20, 2016 at 10:21 p.m. UTC
Updated Sep 11, 2021 at 12:17 p.m. UTC

Autonomous financing project String Labs has announced a program to award grants to developers working with Ethereum.

As part of the effort to seed open blockchain finance projects – permissioned ledgers need not apply – the California-based company will award an unspecified number of grants, ranging between $2,000 and $10,000.

String Labs CEO Tom Ding described in interview why the project is choosing to only support open blockchains, telling CoinDesk:

"Private chains can be more about optimizing time and cost for institutions, but most of the time it doesn’t benefit end users. Permissionless innovation benefits from that."

The grant program is intended to support permissionless projects on the public Ethereum blockchain underneath any number of open-source licenses similar to MIT’s Open Source Initiative.

As opposed to an investment which would typically result in the financier receiving some sort of equity in exchange, grants winners maintain far more autonomy once they receiving funding.

Examples of the kinds of ideas String Labs wants to fund include financial exchange clients, mobile wallets, peer-to-peer distributed app marketplaces, and other innovative financial protocols.

Ethereum grants grow

The move represents the latest effort to fund development of Ethereum projects through grants.

Last April, the Ethereum Foundation announced a similar program called DEVgrants designed to help developers invest a “significant” amount of time building their projects.

Early winners of that grant include security-deposit based public consensus protocol Casper, which won $25k, and “Snappy”, an Ethereum framework being developed by Internet of Things startup Slock.it, best known for writing the code that underlies The DAO distributed autonomous organization.

Founded in mid-2015, String Labs is asking grant applications to provide concepts that are deliverable within a six-to-twelve month period. Proposals must be submitted by 31st June.

Image via Shutterstock.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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.

Trending

1
CoinDesk - Unknown
Sequoia's Guide to Surviving the 2022 Bear Market

Venture capitalists have gotten increasingly frantic over the last few months.

Venture capitalists have gotten increasingly frantic over the last few months.

CoinDesk - Unknown
2
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
3
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
4
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown