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MassBit Receives Web3 Grant, Milestone 1 Completed
today massbita global decentralized API Service For decentralized apps, a grant from reputed Web3 Foundation Grant Program, The MassBit team was able to obtain a grant for Milestone 1 With $35,000 in grant money, which the team says will be used to accelerate product development to the mainnet.
The Web3 Foundation provides grants for projects that are believed to have the greatest impact on the Web3 ecosystem, including Polkadot, the foundation’s flagship protocol. Polkadot creates a secure and scalable ecosystem where multiple parachains can interact with each other.
MassBit CEO Minh Doan said:
“The focus is now on optimizing and improving the efficiency of core functionalities. This grant will help us further support the Polkadot ecosystem, using the security, scalability, and decentralization of Polkadot to demonstrate that MassBit Root can be used as part of our project.” What projects can expect when using it as an infrastructure and cross-chain indexing service.
massbit route Now supporting traffic routing for ETH and DOT blockchain nodes.
The Web3 Foundation is one of the largest and most respected foundations supporting the development of Web3 technologies. Till date, they have accepted more than 400 total projects with more than 1050 applications received. The work and product development shown by the MassBit team made them just the 300th application to be accepted and completed by Milestone 1.
MassBit is a decentralized network of root nodes and gateways that routes dApp requests to low latency blockchain nodes built on a substrate framework. Node providers stake and earn MassBit tokens to service the Blockchain Distribution Network (BDN) and consumers pay in tokens for global access to the decentralized blockchain API.
Doon said:
“Our next goal is to scale the network, increasing overall stability, while balancing the token distribution mechanics to create the most fair system possible.”
The team has said they will now begin work on Milestone 2, completing the project, with only a quarter of all applicants to the Web3 Foundation having achieved anything.
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MassBit Receives Web3 Grant, Milestone 1 Completed
