Revolutionary smart contract platform Taraxa Protocol Foundation has announced today the launch of a $10 million Grant Program to foster the expansion of its EVM-compatible blocked Layer-1 ecosystem, blockDAG.

Signalling a significant milestone for the Taraxa community, the initiative follows a remarkable approval through on-chain governance.

Open to individuals, teams, and organizations of all types, the Taraxa Grant Program is specifically designed to fund technical development endeavours that drive usage and growth within the Taraxa ecosystem. Funds will be allocated based on quantifiable milestones to ensure a transparent and accountable allocation process.

Taraxa Invites Builders to Leverage Its Distinctive blockDAG Architecture

Developers are urged to consider building on Taraxa for several compelling reasons. The platform offers a unique opportunity to work with blockDAG, a paradigm shift beyond traditional blockchain technology. This architecture achieves remarkable throughput and low latency while maintaining security and decentralization through parallel block processing.

One of Taraxa’s standout features is its True EVM Compatibility, eliminating the need for developers to learn new languages, frameworks, or tooling. Boasting impressive metrics like 5,000 transactions per second (TPS), sub-second block times, instant block inclusion, and under 4-second finalization, Taraxa ensures a fast, smooth, and cost-effective experience for users.

The protocol’s True Finality guarantees irreversible transactions within seconds, providing a secure foundation for decentralized applications (dApps). Moreover, Taraxa’s architecture minimizes the risk of front-running in DeFi transactions, making it a formidable choice for developers seeking a reliable and secure platform.

The Taraxa community, known for its high engagement, offers robust support for developers. Coupled with the assistance from Taraxa’s development team, users can expect a collaborative and enriching experience while building on a network powered by cutting-edge technology.

Looking ahead, the Ficus Root Bridge, set to debut in mid-2024, further bolsters Taraxa’s utility, asset diversity, and cross-chain liquidity. This bridge seamlessly facilitates the flow of assets between Ethereum and Taraxa, positioning Taraxa as a natural Layer-2 solution for dApps and a consensus layer for rollups within the decentralized finance (DeFi) space.

According to the announcement, applications for the Taraxa grant program are currently open. Hence, developers eager to leverage the power of Taraxa can apply today.