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Taraxa Launches $10 Million Grant Program for its blockDAG Ecosystem

[PRESS RELEASE – Panama City, Panama, February 5th, 2024]

The Taraxa Protocol Foundation has launched a $10 million Grant Program to drive growth in Taraxa’s unique EVM-compatible blockDAG Layer-1 ecosystem, after an overwhelmingly successful on-chain governance approval.

The Taraxa Grant Program is open to any individual, team, and organizations of any type. Funds will be granted specifically for technical development with an emphasis on driving usage and growth within the Taraxa ecosystem, and are disbursed according to quantifiable milestones.

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

An unique opportunity to Build on blockDAG: blockDAG is the next evolutionary step up from block-chain, able to achieve stunning throughput and low latency without sacrificing security and decentralization by enabling parallel block processing on the network instead of just one block at a time. True EVM Compatibility: any dApp that works on Ethereum just works on Taraxa, no need to learn new languages, frameworks, or tooling. Fast & Low-Cost: with peak throughput of 5k TPS, sub-second block times, instant block inclusion, and under 4-second finalization, working on Taraxa is fast & smooth, with each transaction costing next to nothing. True Finality: zero risk of transactions being reversed, Taraxa’s True Finality guarantees that when a transaction is finalized (under 4 seconds), it is finalized forever. Front-Running Prevention: Taraxa’s architecture and speed minimize and fragment the network’s mem pool, making it almost impossible and definitively unprofitable for DeFi transactions to be targeted for front-running. Supportive Community: Taraxa’s community is highly engaged and the development team is helpful to a fault. Not only will the user be building on a network backed by the best technology in the world, but he will also receive the full support, attention, and participation from Taraxa’s community! The upcoming Ficus Root Bridge in mid-2024 further strengthens the Taraxa ecosystem’s utility, asset diversity, and cross-chain liquidity. DeFi builders don’t have to worry about fragmented assets or liquidity, since they flow seamlessly between Ethereum and Taraxa. The bridge, coupled with Taraxa’s fast, low-cost and natively EVM-compatibility, make Taraxa a natural Layer-2 solution for dApps or 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!

About Taraxa Founded by two Stanford engineers in 2018, Taraxa is an EVM-compatible smart contract platform based on t-Graph consensus utilizing blockDAG, with many world-first technical innovations on top of the blockDAG architecture. After launching its mainnet in 2023, Taraxa represents the next evolutionary step in decentralized networks.

Contact Taraxa Protocol Foundation
[email protected]

About the author

Chainwire is a specialized crypto newswire service providing high-impact distribution for the cryptocurrency and blockchain industry.

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Tangem, a key cryptocurrency wallet, has revealed a major upgrade to its platform through the addition of more 8 networks to its ecosystem. The most recent networks added to its stable include Moonbeam, ZkSync, Base, zkEVM, Moonriver, PLAYA3ULL GAMES, Flare, and Taraxa. This move demonstrates the provider’s commitment to the helping its users to attain the latest technologies while meeting the unique demands of its broad user base.

We just dropped a major update! Our dev squad has been grinding hard to add 8 NEW NETWORKS to the mix. That's 🔥

Show some love and let them know how much you appreciate their hard work. Drop a reaction, comment, and share the hype!

And don't forget to update your app. You know… pic.twitter.com/LNlAfKA6jG

— Tangem (@Tangem) May 2, 2024 Tangem’s Crypto Wallet Bridges Global Access to Digital Assets Tangem’s crypto wallet is the most important connection between 8 billion people globally and the rapidly developing industry of digital assets. Based on the idea of creating digital assets quickly accessible, Tangem has successfully created its products utilizing a smartcard-based hardware wallet and an intuitive mobile app, amassing an extensive user base.

Having delivered goods to 170 countries, Tangem has become the world’s leading producer of cold hardware wallets for digital assets. Its product is safe and simple for people across the globe to use. Another essential characteristic of Tangem’s offering is the rapid deployment, as it takes users only 1 minute to set up their wallets.

Tangem’s Latest Update Demonstrates Commitment to Empowerment and Innovation The 8 new networks launched on Tangem’s platform constitute a big step towards more individual control of digital assets. Due to increased network compatibility and their product range enhancements, the company also solidified its position among the leading players in the cryptocurrency wallet market.

Lastly, with the expansion of the digital asset market, Tangem remains true to its commitment to offer its clients cutting-edge solutions that are simultaneously safe and simple to use . The most recent update is once again evidence of the company’s ambition to empower and a desire to be a global leader in the adoption of this technology.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Steven Pu, co-founder of layer-1 blockchain Taraxa, released a report on Feb. 24 highlighting a significant gap between claimed and actual blockchain performance.

Analyzing 22 networks using data from Chainspect, the study found that theoretical transactions per second (TPS) are overstated by an average of 20 times compared to real-world results. According to the findings, this discrepancy stems from lab-based metrics that fail to hold up on live mainnets.

The report introduces a new metric: TPS per dollar spent on a validator node (TPS/$), aiming to measure cost-efficiency rather than just raw speed. Across the 22 chains, theoretical TPS averaged 20 times higher than observed mainnet performance, with only four networks achieving double-digit TPS/$ ratios.

Pu argues this shows many blockchains require costly hardware for modest transaction rates, challenging claims of scalability and decentralization. 

“We should all stick with transparent, verifiable, on-chain performance metrics,” per the study.

Source: Chainspect Blockchain scalability questioned Pu’s findings suggest the industry’s focus on high TPS misleads stakeholders. Bitcoin (BTC) and Ethereum (ETH), for example, prioritize security over speed, while newer chains tout big numbers that rarely materialize. The TPS/$ metric could shift how developers assess networks for practical use cases like payments or supply chain tracking. The report states that,

Max observed mainnet TPS for included networks, across a 100-block window (tx/s)
It’s worth noting that Chainspect specifically excludes transactions that may unfairly inflate this Max TPS metric, such as voting transactions

Taraxa pushes for transparency Taraxa, a proof-of-stake layer-1 focused on audit logging, frames this as a wake-up call. Pu, a Stanford-educated entrepreneur, urges reliance on verifiable mainnet data over whitepaper hype.

This comes as the crypto space grapples with adoption hurdles. Inflated statistics could distort investment and development decisions, particularly in decentralized finance and supply chain use cases that demand reliable performance. Pu suggests that cost-efficiency metrics like TPS/$ could redefine how blockchain sustainability is evaluated, shifting focus toward networks that deliver practical value rather than just high theoretical speeds.

Taraxa Co-Founder Calls for New Metric to Combat Misleading Blockchain Performance Claims