Interchain Foundation has recently announced that it has granted funding to Datachain, a decentralized data exchange network that operates on blockchain technology. This grant will enable Datachain to further develop its innovative platform that offers secure and efficient data exchange solutions across various industries. By utilizing the benefits of blockchain technology, Datachain aims to revolutionize the way data is shared and utilized. This strategic partnership between Interchain Foundation and Datachain is expected to fuel the growth of blockchain-based applications in the digital space and pave the way for the adoption of decentralized data exchange networks around the world.
Datachain Receives Grant from Interchain Foundation to Upgrade IBC-Solidity Protocol
Datachain has once again received a grant from the Interchain Foundation, proving the entity’s appreciation of Datachain’s efforts and value creation in the interchain community. The grant will be used by Datachain to upgrade the overall functioning of the IBC-Solidity protocol, which interlinks various high-usage blockchains globally. The upgrade will provide greater safety and lower trust assumptions on Ethereum and EVM-adaptable blockchains and Enterprise Ethereum (Hyperledger Besu, GoQuorum) through interoperability with IBC.
Datachain has been working on improving IBC Solidity execution and enhancing interoperability since obtaining the first grant. The Hyperledger Foundation, which was granted the YUI project, also focuses on further connectivity with IBC and developing models that support different ledgers like Hyperledger Fabric, Corda, Hyperledger Besu, and IBC-Solidity.
This funding will enable Datachain to carry out crucial improvements on its features, such as allowing BEEFY/GRANDPA light client backing, reframing for more gas effectiveness and readability, backing for generic authentication functions, complying with the commitment path, easing contract size limitation, and adding verifyNonMembership backing. Thanks to Composable Finance, Datachain has been able to conduct BEEFY/GRANDPA Light Client backing, which helps further connectivity, quality, clarity, effectiveness, and safety-related issues in terms of cross-ecosystem DeFi.
Using IBC-Solidity will enable Datachain to transfer messages and data through different blockchains. In the future, Datachain aims to partner with organizations in Japan and beyond to offer production scenarios services utilizing IBC-Solidity and other technologies such as LCP.
The Interchain Foundation is a Swiss non-profit organization committed to the advancement of fresh technologies and applications, especially in areas of open and decentralized software frameworks. Their top priority is the hyping and developing of the interchain network, a large network of autonomous blockchains, and connected communities brought together by a common technology known as the Interchain stack. This network is there to support free and open-source software.
In conclusion, Datachain’s continued work on improving IBC Solidity execution and enhancing interoperability is a highly valuable contribution towards the interchain network, while also boosting innovation with regard to decentralized technologies. The grant from the Interchain Foundation will help Datachain take an essential step towards upgrading the IBC-Solidity protocol, which will further enhance connectivity and safety within the interchain network.