Protocol Village: Web3 Foundation Funds Ideal Labs, 'Encryption to the Future'

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Protocol Village: Web3 Foundation Funds Ideal Labs, 'Encryption to the Future'
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Bradley Keoun is the managing editor of CoinDesk's Tech & Protocols team. He owns less than $1,000 each of several cryptocurrencies.

, supporting Polkadot as its flagship protocol, announced funding support for Ideal Labs in the creation of the Encryption to the Future network,:"The funding is part of the Foundation’s Decentralized Futures Funding Program, backed by $20M USD and 5M DOT. The ETF Network is a cutting-edge substrate-based blockchain leveraging a unique consensus mechanism focused on publicly variable on-chain randomness and timelock encryption.

":"The APAC-focused accelerator has earmarked up to $500,000 for each of these teams, with the selected projects uniquely leveraging blockchain technology within Telegram’s Web3 ecosystem. These projects will further embed TON's Web3 functionalities within Telegram's existing platform and engage Telegram’s over 800 million monthly active users.

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