Interchain Foundation forwards a grant to Datachain

The Interchain Foundation has once again forwarded a grant to Datachain. The first time they did this was in the month of October 2021. This simply proves the fact that the entity happens to be really appreciative of the kind of effort and value creation Datachain has carried out in the form of its contribution towards the interchain community.  

Through the obtaining of this grant, Datachain, on its part, will begin focusing on the upgradation of the overall functioning of IBC-Solidity, which happens to be the Solidity execution of the IBC protocol, which happens to link various high-usage blockchains globally. This will also provide greater safety, along with the least amount of trust assumptions on Ethereum, as well as the EVM-adaptable blockchains and Enterprise Ethereum (Hyperledger Besu, GoQuorum) through interoperability with IBC.  

Following the first grant that Datachain obtained, they have been engaged in enhancing interoperability with the hyping of the acceptance of the IBC protocol. They have carried out deep research for improving IBC Solidity execution. All of this becomes a highly valuable contribution towards the interchain network while also boosting innovation with regard to decentralized technologies. 

The Hyperledger Foundation, which was granted the YUI project, has its focus on creating further connectivity, with IBC being on more blockchains. It also happens to have developing models that back different ledgers like Hyperledger Fabric, as well as Corda and Hyperledger Besu, along with the Solidity execution of IBC, which happens to be recognized as IBC-Solidity. 

Datachain happens to make use of the funding in order to be able to carry out some crucial improvements on the features. For instance, there will be the allowing of BEEFY/GRANDPA light client backing. Also, there will be reframing for more gas effectiveness and readability. There will be the backing for generic authentication functions. It will also happen to be compliant with the commitment path, and there will be an easing on the contract size limitation. There will also be the add verifyNonMembership backing. 

The BEEFY/GRANDPA Light Client backing was done with the help of Composable Finance. This entity happens to work on the furthering of connectivity, as well as quality and clarity, along with effectiveness and safety-related issues, in terms of cross-ecosystem DeFi. With the usage of IBC-Solidity, transferring messages, as well as data through different blockchains, can be carried out. As a part of its future plans, Datachain intends to form associations with partner organizations in Japan, as well as beyond, in order to be able to deliver services related to production scenarios, with the utilization of IBC-Solidity, as well as more technologies, such as LCP. 

Where the Interchain Foundation is concerned, it happens to be a Swiss non-profit organization committed to the advancement of fresh technologies, as well as applications, especially in areas of open, as well as decentralized software frameworks. 

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However, their top priority happens to be the hyping and developing of the interchain. This, in turn, happens to be a large network of autonomous blockchains, along with connected communities, brought together by a common technology known as the Interchain stack. It happens to be there for the backing of free and open-source software.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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