Terra launches $ 150 million “Project Dawn” to promote cross-chain ecosystem
There’s a trend for platforms to launch hundreds of millions of dollars in funding to expand their ecosystems, with prominent names like Polygon, Fantom, Celo, Avalanche, Hormony, and Algorand.
Terraform Labs (TFL), the company behind the Terra ecosystem, also recently notification on launching a $ 150 million funding initiative called Project Dawn. The grant will help improve critical infrastructures while further promoting cross-blockchain communication.
Development of the cosmos ecosystem
Terraform Labs explains: “The incredible rate of growth has shown that both the core technology and the infrastructure within the Terra ecosystem need to be scaled appropriately with the booming ecosystem.
The degraded user experience in times of market turmoil has shown that there is still much work to be done to get Terra’s financial infrastructure up and running, ”said Terraform Labs. clear up Reason more for the new funding initiative.
According to the developers, the funds will be used to build core Cosmos contributing organizations whose mission is to support the Cosmos ecosystem.
An internal engineering team within TFL will be set up to add the necessary potential for the development of the Cosmos core technology and to contribute to the central technologies for the “animation of the Terra blockchain”.
Cosmos is a decentralized network of independent parallel blockchains, each powered by Byzantine Fault Tolerance (BFT) consensus algorithms such as the Tendermint consensus, in which a variety of blockchain applications interact confidently with one another.
By ensuring that every node receives the same guaranteed data, BFT is a consensus protocol that tolerates errors in computer systems on the network while tolerating data corruption and corruption.
Node infrastructure and validators / Oracle
In addition, Project Dawn funds will be poured into the node infrastructure of the ecosystem as well as the diversification of validation / Oracle support.
“It is imperative that community services and TFL applications running on the Terra chain rely on a diverse infrastructure to prevent collateral damage from attacks and improve a great user experience (UX). ) “Said the Terra development team, adding the details. Partnerships will be announced shortly.
Over 5 million LUNA were activated when the project started on September 9th. TFL undertakes to “transparently disclose to the community up to 3 million LUNA per month for all operating costs with details on each unblocking”.
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According to Cryptoslate