Waves creates $3 million financing fund to promote interoperability between chains

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These are not just Waves-based projects.

Waves creates $3 million financing fund to promote interoperability between chainsNOTÍCIAS

The Waves Association announced on Wednesday a new funding programme for the development of interoperability between chains.

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The pool consists of 1 million Waves tokens, worth approximately US$ 3 million at the time of writing. Projects will be eligible for funding of up to 300,000 Waves to develop interoperability and inter-chain communication solutions.

There will be three distinct types of funding: open-ended funding, funding distributed through hackathons and funding focused on Waves. Sten Laureyssens, a strategic consultant with the Waves Association, explained to Cointelegraph that open-ended funding will have a broad scope:

„For the open-ended category, funding is open to a wide variety of interoperability projects, which need not necessarily be connected to Waves. We look for creative solutions to connect existing blockchains and dApps. ”
The latter two types of funding will have to adhere to certain requirements, which makes it likely that blockchain Waves will be involved in some way. However, Laureyssens said the association is planning to sponsor blockchain agnostic solutions as well.

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Sasha Ivanov, President of the Waves Association, has launched a subtle indirect for certain types of interoperability solutions offered today:

„Waves Association aims to support independent developers working on interoperability solutions – especially those who think outside the box. Resolving interoperability by adding a dedicated blockchain and a native token as an additional layer would only lead to more complexity, undermining the potential of the proposed solution. ”
Funding will be stipulated and decided by the members of the Waves Association, although the disbursement of resources will be automated through a decentralised application.

Waves is a blockchain platform enabled by intelligent contract competing with names like Ethereum and EOS. Its developers have often criticized conventional approaches to certain principles of blockchain technology, especially certain misleading claims of transactional capability.

Blockchain Waves was recently used with apparent success in a local Russian election, following the disappointing performance of a similar system developed by BitFury.