- Coreum distributed grants to boost scalability, interoperability, and accessibility.
- Grant recipients are expected to enhance the blockchain’s scalability and Smart Token functionality.
- Each project aims to enhance utility for token holders and the ecosystem at large.
The blockchain industry is rapidly evolving, driven by the need for more scalable, secure, and interoperable solutions. This is especially true for enterprise-grade blockchain solutions, one of its most promising applications.
Most recently, Coreum, an L1 enterprise-grade blockchain utilizing programmable Smart Tokens, announced a major investment in the field. Looking to support and scale innovative projects in its ecosystem, the platform concluded Wave 3 of its grant development program.
Coreum’s Wave 3 Grant Recipients
In its April Wave 3 funding round, Coreum disbursed $300,000 among eight projects to enhance the functionality of the Coreum blockchain, which focuses on Smart Tokens for enterprise customers. Some of the recipients include:
- TriwebAPI: A project that automates blockchain operations to streamline Web3 development and deployment processes.
- Tokenproof: An expansive toolkit enabling brands to foster long-term relationships with their consumers through token-based experiences.
- LZero: A protocol that integrates Smart Tokens in testing environments to ensure the reliable and efficient performance of blockchain applications before full deployment.
- Lighthouse: A data storage provider that automates and secures data access rules in scalable, long-term data storage solutions.
These projects were selected based on their potential to tackle some of the most pressing challenges in blockchain technology, including scalability, interoperability, and accessibility.
Coreum Focuses on Smart Tokens for Enterprise
At the heart of Coreum’s platform are Smart Tokens, which are programmable blockchain assets. Just like smart contracts, Smart Tokens allow blockchain assets to execute pre-defined behaviors autonomously. However, specific functionality is embedded in the asset code, rather than on the chain.
Critically, Smart Tokens are flexible and able to meet diverse enterprise needs, from financial services to supply chain management. For instance, for TriwebAPI, Smart Tokens enable the automatic execution in the deployment of blockchain apps. For Cypher Wallet, another project selected by Coreum, Smart Tokens play a key role in boosting interoperability.
Thanks to the Wave 3 grant, successful projects can focus on developing the technology that will ultimately benefit both Coreum and blockchain technology in general. A further boon of the grant is that the program promotes collaboration between emerging tech talents and established industry players. This ensures that innovations can quickly find practical implementation in line with market needs.
On the Flipside
- According to Japanese technology company Fujitsu, enterprise blockchain adoption is accelerating. Its main driver is the need for more efficient, transparent, and secure business processes.
- For large enterprises, integrating blockchain into existing IT systems poses significant challenges. Integrations usually require extensive overhauls and demand a large investment in training.
Why This Matters
Coreum’s involvement in funding blockchain projects helps overcome the significant gap between blockchain’s theoretical potential and its real-world utility. By providing capital and strategic guidance, Coreum accelerates the development of blockchain technology to meet specific market needs.
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