Taraxa launches $10 million grant program for blockDAG ecosystem

adminFebruary 6, 2024

Panama City, Panama, February 5, 2024, Chainwire

The Taraxa Protocol Foundation has launched a $10 million grant program to fuel the growth of Taraxa’s unique EVM-compatible blockDAG Layer-1 ecosystem following its overwhelmingly successful on-chain governance approval.

The Taraxa grant program is open to all types of individuals, teams, and organizations. It is funded specifically for technology development, with a focus on driving use and growth within the Taraxa ecosystem, and is paid out based on quantifiable milestones.

Building on Taraxa provides a unique opportunity for developers to experience the benefits of the world’s first and only native EVM-compatible decentralized network built on the blockDAG architecture. Here are a few reasons why builders should consider building the next big idea on Taraxa.

A unique opportunity to build on blockDAG: blockDAG is the next evolutionary step in blockchain, enabling parallel block processing across the network rather than one block at a time, achieving incredible throughput and low latency without sacrificing security and decentralization.
True EVM compatibility: All dApps that run on Ethereum only run on Taraxa, so you don’t need to learn any new languages, frameworks or tools.
fast and low cost: With a maximum throughput of 5,000 TPS, block times of less than 1 second, instantaneous block inclusion, and finalization of less than 4 seconds, Taraxa operations are fast and seamless, and each transaction costs next to nothing.
true finality: With zero risk of a transaction being cancelled, Taraxa’s True Finality ensures that once a transaction is completed (less than 4 seconds), it is closed forever.
Preemptive attack prevention: Taraxa’s architecture and speed minimize and fragment the network’s memory pool, making it nearly impossible and certainly unprofitable for DeFi transactions to aim for front-end execution.
support community: Taraxa’s community is very engaged and the development team helps fix any kinks. Users will not only build a network backed by the world’s best technology, but they will also receive full support, interest, and participation from the Taraxa community!

Ficus Root Bridge, scheduled to launch in mid-2024, will further enhance the utility, asset diversity, and cross-chain liquidity of the Taraxa ecosystem. DeFi builders don’t have to worry about fragmented assets or liquidity because it flows seamlessly between Ethereum and Taraxa. This bridge, combined with Taraxa’s fast, low-cost, and native EVM compatibility makes Taraxa a natural layer 2 solution for dApps or a consensus layer for rollups.

Developers can apply to the Taraxa grant program today and pitch their ideas on how to creatively leverage decentralization to solve problems!

Introduction to Taraksa Temple

Founded by two Stanford engineers in 2018, Taraxa is an EVM-compatible smart contract platform based on t-Graph consensus leveraging blockDAG and includes many world-first technological innovations based on the blockDAG architecture. Taraxa, which launched its mainnet in 2023, represents the next evolutionary step in decentralized networks.