Tezos Foundation Partner, Cryptium Labs, Gains Additional Grant to Improve Baking Mechanisms for XTZ
Tezos Foundation announced an additional grant offered to Cryptium Labs on their official blog earlier in the week. The grant is set to cover the development and improvement of baking & consensus mechanisms that are to be adopted on the main Tezos blockchain protocol. Cryptium Labs is focused on implementing a new account system that is in the Tezos amendment process awaiting approval from the voters. This system will improve the efficiency of settling the baking operations through Michelson smart contracts.
— Tezos Foundation (@TezosFoundation) March 27, 2019
Cryptium Labs facilitates the operation of blockchains using the proof of stake (PoS) consensus mechanism. The company will provide bakers on Tezos with a much more flexible platform in an effort to increase the development growth of the blockchain. Bakers (stakers) will have additional freedom on the operational security in an effort to boost developmental innovation on the platform.
The Swiss company is a long term contributor to the Tezos community and has been key in the growth of Tezos blockchain since the launch in mid-2018. Tezos delegation portal is one of the many PoS blockchains run by Cryptium Labs with Cosmos, Tendermint Core, and IRISNet on the list. The company is led by highly qualified professionals including Adrian Brink, Awa Sun Yin, and Christopher Goes and extensive experience from the wide range of professionals in the blockchain company’s rank.
The development of the Tezos protocol is further supported by Nomadic Labs who have partnered with Cryptium Labs as well. Nomadic Labs are currently working on a collaborative project with Cryptium Labs on an update on the Tendermint consensus mechanisms.
The Tezos Foundation’s core mission is to support the long-term success of the Tezos protocol and ecosystem. By funding projects created by scientists, researchers, developers, entrepreneurs, and enthusiasts, the Foundation encourages decentralized development and robust participation.