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IOHK Launches $500k Fund For Project Catalyst

This year is starting with different projects in the crypto space in a bid to improve the industry. IHOK had previously launched other funds last year, with all funds holding an essential role in expanding blockchain technology worldwide. The company involves itself with researches and development techniques to explore the world of blockchain technology.

The firm plans to work on its new Project Catalyst with the latest fund launched for the research. The project is a significant part of Voltaire in terms of Cardano roadmap. Some segments the firm went through to finally reach its presented stage are divided into ‘funds.’

IOHK funds for blockchain research

In the third fund, the firm allows the public to write proposals based on what they want to see in Cardano and some developments they recommend for blockchain technology at large. The voting process will enable individuals to drop those proposals, and fundings are later integrated into the process to fund the project.

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In the second fund, the company got proposals on West African countries to allow quick use of Cardano in the region, suggestions on ways to improve the firm, and removing restrictions so developers can help in the process. As a successful project, $250,000 funded the set of proposals to support projects.

This latest project focuses on decentralized technology and hopes it would help foster innovation in the tech industry. The project is massive because almost 2,000 people registered to give proposals concerning the most extensive set of voters coming up to vote concerning technology innovation globally. It got more voters than important projects like ETH’s DAO project and many others.

The research firm wants to make Cardano accessible to the public and has different platforms where suggestions are made to develop the open-source project. The proposals’ flexibility allows people to suggest different things that could include infrastructural, content creation, and different important segment of the innovation.

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The Idea behind Cardano

The firm explained that Cardano gives decentralized control and gives everybody power within the operation and infrastructure platform. The funds alongside Cardano will support the body to allow people to vote and make critical decisions concerning the crypto world and create a decentralized platform that is safe, secured, and effective.

The second fund was mainly to determine how people would react to the empowerment, and the experiment was successful. The fund’s team reported that they were amazed at voters’ turnouts to bring ideas that would enhance the innovation.

Cardano’s crypto AHA started the year on reasonable grounds as it faced a price increase of almost 100%, beating Bitcoin Cash to gain a stance in the crypto market. Sources suggest that the rallies digital assets saw improved their prices as most coins gained significantly over the past few days.

Smart Contracts also helped the digital asset moved the chart upward as its unique operation makes it easy for investors to explore. Michael van de Pope also predicted an increase in ADA within the first three months of 2021.

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Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

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