Equally the blockchain industry expands and becomes more of a fixture in everyday life, the idea of "i chain to rule them all" and the general ideology of blockchain maximalism is beginning to fall to the wayside, and the focus on interoperability and cross-chain collaboration is coming to the forefront.

One project that is specifically designed to help accelerate the ecosystem as a whole and develop the futurity of the open internet is Gitcoin (GTC), a customs of builders, creators and protocols.

Data from Cointelegraph Markets Pro and TradingView shows that the price of GTC has swelled 103% from a depression of $iv.78 on July twenty to a loftier at $9.71 on Aug. 11 equally new participants aligned with the project and its goal of advancing the Web3 infrastructure.

GTC/USDT 4-hour chart. Source: TradingView

3 reasons behind the recent forcefulness of GTC are its expanding listing of partner platforms, DAO governance features that give community members command of the platform and a well-funded grant pool can exist used to aid develop projects and amend protocols.

The list of partner protocols expands

The main mission of the Gitcoin protocol is to assist create and support the infrastructure for Web3. This includes developing new tools, technologies and networks that can further facilitate open up-source development.

As such, the Gitcoin ecosystem is open up to working with a broad variety of protocols and platforms to help them develop through hosting hackathons and providing evolution grants.

Some of the electric current projects that are actively involved with the Gitcoin customs include Harmony, Nervos Network, Tezos, Casper and Arweave .

By offering bonny prizes and evolution grants to hackathon participants and other events hosted by Gitcoin, projects take been able to concenter the developers and community members needed to continue their growth.

DAO governance capabilities

Decentralized Democratic Organizations (DAOs) are a significant emerging trend in the blockchain industry because they requite community members the power to vote on the future management and development of the platform.

Gitcoin has embraced this model and now has an agile community that is involved with voting for proposals and helps with the governance of the project's protocol.

Community members who don't want to be equally involved with the twenty-four hours-to-day decisions can delegate their votes to a trusted steward who votes for proposals on their behalf in return for a pct of the rewards offered.

There are currently five separate DAO workstreams available to the Gitcoin community including anti-fraud and collusion, public appurtenances, dGrants, moonshot collective and "memes, merch, marketing."

DAO Workstreams. Source: GitcoinDAO

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Grants attract new developers

The Gitcoin grant puddle helps attract new community members and developers to the project for the benefit of all its partner protocols besides.

The grants utilise community support and quadratic matching to provide the funding that open-source projects demand, and the funds in the grant puddle are also used to reward hackathon participants as well as community members who complete any of the listed bounties.

As the side by side stride in creating a truly decentralized and community governed protocol, the Gitcoin community is currently in the procedure of decentralizing the grant procedure.

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