Project Catalyst is an experiment in collaboration and innovation for Cardano. This experiment is made possible by the Cardano blockchain. The format of Project Catalyst is a series of funding rounds, wherein challenges are presented, and anyone in the world may propose solutions. The Cardano community votes for the solutions they like. Winning proposals receive funding to deliver their solutions.
In a previous article we learned about Decentralized Autonomous Organization (DAO), which is a way of organizing and sharing work using the blockchain. And last week we mentioned the self-funding Cardano Treasury, which fuels development and maintenance of the network. Project Catalyst is where these two concepts come together. It is a first-of-its-kind initiative which seeks to inspire “the highest level of human collaboration.”
The Project Catalyst experiment started with Fund 1 in September 2020. As of this writing in August 2021, we are in the middle of Fund 6. Each round has had more money at stake, more problems to solve, and more innovative minds trying to solve them. From a high level, the process is simple:…