Taraxa is a public blockchain ledger that tracks informal off-chain transactions. Its function is quite complex and not many crypto traders are aware of it. Basically, the aim of this company is to minimize friction when it comes to crypto and business. To involve the community of crypto in furthering its mission, Taraxa has also incentivized testnet with enormous payouts. Stress tests are quite common for crypto networks, but there is a lack of involvement from the crypto community.
This incentivization of testnet has been dubbed Californicum. It allows community members to take part in technical bounties as well as social bounties.
Another reason behind the rollout of these enormous payrolls and the development of testnet is to spread awareness about Taraxa, its community as well as its mission. Taraxa aims to make the crypto sphere a bit more frictionless for the community members. The crypto world is already facing a lot of difficulties due to a variety of factors. Thus, many companies have taken it upon themselves by involving community members to help make the crypto world a bit more stable.
Technical Bounties, Social Bounties, and Nodes
To understand more about the bounties, one can also join the discord server of the Taraxa project. As of now, there are around 530 members on the discord server. In simpler words, technical bounties involve the operation of nodes. For the success of this project, Taraxa’s CEO has emphasized that the involvement of the community is critical. Without the community, this project will not take off from the ground.