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Essentia.one Announces $11m Fund to Incentivize Third Party Development of Its Protocol


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The decentralized interoperability protocol Essentia is set to launch a fund valued at over $11 million to expand their ecosystem and incentivize projects to be built on top of the platform.

The fund will drive development of a thriving program to accelerate real world adoption of blockchain technology, based around Essentia’s enterprise-oriented solutions, while forging close ties with the community, without whom we could not have reached this stage. Over the last few months, we’ve been privileged to meet many of you at conferences and blockchain events around the world, and have relished the sense of camaraderie and the enthusiasm you’ve shown for the decentralized systems we’re building. Your interest is clearly visible in the dAppstore as well, where you keep voting for the best applications to be integrated to the framework. We’ve also been grateful of your support in participating in the Essentia pre-sale and forthcoming public sale, which commences on June 25. In the meanwhile check out 10 reasons why Essentia is worth the wait!

Upon completion of our public sale, the hard work doesn’t stop. In fact, that’s when we kick things up a notch with the launch of the Essentia $11M fund. In the coming weeks and months you’re going to see a range of new initiatives introduced including:

EssCons: A series of Essentia conventions for developers, businesses, community members and anyone interested in engaging with the Essentia ecosystem. These events will be held regularly throughout the year, starting in Kiev on July 25th.

ESS Local Meetups: A more informal series of events will take place in major cities throughout the world including Kiev, Amsterdam, London, Seoul, Hong Kong/Shenzhen, Tokyo and Berlin. These will provide a chance to exchange ideas and interact with other Essentia supporters in a relaxed setting.

ICO Competitions: The Essentia framework will also serve as a launchpad for ICOs. To spearhead this initiative, we’ll be launching a number of ICO competitions in a bid to uncover the best tokenized projects, with our first event taking place in Amsterdam in August.

ESS Hackathons: We can’t wait to discover some of the applications for Essentia’s open source protocol that developers dream up. To nurture dApps and other integrations built on the Essentia protocol, we’ll be hosting our first hackathon in August, and inviting teams to participate.

ESS Incubator: The projects that demonstrate the most potential and real world application will be supported through mentoring and grants provided by the ESS Incubator. We’ll take these teams under our wing and help them to create dApps built on top of our protocol and then deeply integrate these into the Essentia framework.

We’ve already announced details of some of the projects we’re supporting, including ORCA, whose app is being integrated into our protocol. Aside from this and our partnerships with MTK and Finland, we have a number of other major partnerships that we’ll be releasing details of soon. With the aid of the ESS Incubator, expect to see future integrations of DEXes, blockchain enterprise solutions, GDPR compliancy provisions, logistics management platforms and much more.

The Essentia Ecosystem and Community Program will be driven by the same principles that define blockchain technology: visibility, transparency, and accountability. We promise to communicate regularly as we embark on the next phase of our journey, and to solicit the advice and ideas of our developer community, whose input will be critical in helping us realize our goal of connecting the decentralized web and making it accessible to all.

At Essentia, we’re not interested in merely paying lip service to the concept of community: engaging with and growing our global network of supporters and developers is of paramount importance to us. We have every intention of maintaining the momentum we’ve acquired in the run-up to our crowdsale, as we move into the next phase of Essentia’s evolution, with our sights firmly set on establishing a thriving ecosystem built upon distributed, decentralized technologies.

For more information check out the official website and join the Essentia Telegram.

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