ConsenSys, the global Ethereum blockchain company, has announced it will be supporting seven new Ethereum-based projects with $175K of funding.

Since February, ConsenSys Grants has been awarding funding to blockchain projects it considers promising, handing out $330,000 in grants to fifteen industry startups so far.

According to crypto industry site CoinDesk, Yadira Blocker, head of experimental marketing at ConsenSys, explained that each wave of funding applications has gotten stronger, with more credible teams and unique ideas.

The latest seven projects to be funded, which were part of Wave 3, include Ethereum software client Lighthouse, mobile decentralised applications constructor Alice, and Tellor – an oracle network for off-chain data.

On its official blog, ConsenSys describes its mission as:

“ConsenSys Grants funds open-source projects that benefit the greater Ethereum ecosystem. We support projects in critical areas like core infrastructure, improved developer tooling and UX, security, and access to knowledge for developers, users, and social impact.”

Funding is awarded in grant of $10,000 and $25,000 via GitCoin.

Wave 1 saw ConsenSys award grants to public health incentives app Ribbon Blockchain, carbon removal incentivisation startup Nori, event management service Kickback, gasless users onboarding solution Gas Stations Network, notification and transaction service Notus, Black Girls CODE Blockchain Immersion Program, Africa Blockchain Developers Program, security-focused Ethereum Serenity client Lighthouse,

During 2019, ConsenSys held, or is scheduled to hold, its Grant Hackathons in Dublin, London, Toronto, New York City, Berlin, Sydney, and Washington DC.

AYO.NEWS says:

It’s great to see ConsenSys continue to support the visionary individuals and passionate communities that are created an exciting, and better, digital future for all of us. The amounts awarded may be fairly small, but they will most likely make a big difference to projects at the embryonic stage.

AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.