Grant awarded for Sprites technology development; OAX project one of its first real-world applications
OAX Foundation is pleased to congratulate Enuma Technologies, the firm leading the development of the OAX project, on being a recipient of an Ethereum Foundation grant.
Enuma Technologies is one of the world’s leading blockchain engineering firms and will use the grant to help further the implementation of Sprites technology applications. Sprites was originally developed by researchers at the University of Illinois at Urbana-Champaign to overcome shortfalls in existing payments channels that limit transaction volumes. One of its first real-world applications will be to the OAX project where it will help increase the speed of transactions over the OAX platform whilst reducing collateral cost.
The Ethereum Foundation makes grants to teams that are helping make Ethereum either more scalable, more useful or more secure. Enuma’s grant falls into the scalability category and was among the largest made in this round.
Enuma Technologies has been involved in the OAX project from inception and has expertise covering the full blockchain spectrum. It has successfully designed and executed a number of high profile projects including blockchain platforms and asset exchanges, as well as payment, identity, and security solutions for enterprises across the US, Europe and Asia. The Ethereum Foundation grant is a strong endorsement of its work.
Amanda Liu, general manager of the OAX Foundation, said, “We’d like to congratulate everyone at Enuma Technologies on this grant, which reflects the potential of the technical capability supporting the OAX platform. We believe our project will help the digital asset industry become a mature part of the financial system. Having robust, scalable and efficient technology infrastructure is a crucial part of that.”