SINGAPORE / ACCESSWIRE / August 18, 2020 / A grant program of $1 million (and up to $5 million) has been provisioned by the Qtum Foundation to foster DeFi innovation and development on Qtum's open source blockchain. The newly launched DeFi Developer Support Program will provide funding to approved teams that are knowledgeable of coding Solidity smart contracts. The Qtum Chain Foundation will provide corresponding development funding for each approved applicant or team according to their development goals.
DeFi's record growth in 2020 has come at the expense of chain congestion and high fees. Qtum's blockchain is capable of alleviating these problems thanks to its high TPS and ultra-low fees. Qtum deploys the EVM just like Ethereum, enables privacy functions to be integrated at low cost, and users can interact with smart contracts without holding QTUM.
Qtum's DeFi credentials can be traced back to 2017 when the stable cryptocurrency QCash was issued on Qtum Chain. Support for third-party gas payments means new users can start using dApps on the Qtum chain instantly. Decentralized application developers can subsidize the cost of onboarding new users in this manner, lowering the barriers to entry. Furthermore, wallets that contain no QTUM can still send native dApp tokens thanks to this framework.
Qtum's construction makes it ideally suited to serving as a reliable and scalable next-generation dApp network. A suite of features and improvements make Qtum the likeliest candidate to match the growing demand for a scalable, secure, and highly versatile blockchain that can host enterprise and consumer applications.
The reward for a single development team: $25,000 ~ $50,000
Eligibility
- Familiar with Solidity smart contract development
- Understand the operating principle and technical characteristics of Qtum blockchain
- Possess unique knowledge and insights on DeFi applications and the ability to build and deploy them on Qtum blockchain.
Developers interested in applying for a Qtum defi grant should contact defi@qtum.info
About Qtum
Qtum is an open sourced public blockchain platform that enables multiple virtual machines including EVM and soon, the x86 VM. Qtum is PoS based and boasts a Decentralized Governance Protocol (DGP) allowing specific blockchain settings to be modified by making use of smart contracts. The security and transparency of Bitcoin's UTXO model combined with Ethereum's EVM and a customized proof-of-stake mechanism provides stability and transaction finality.
For Media Contact:
John Scianna
SOURCE: QTUM
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