Cosmos Network Update

Cosmos Network Update | 10.2020

Despite the perpetual crisis, the Cosmos network is getting closer to realize its vision of an internet of blockchains by the day. With so much going on, it is hard to keep track. In this post, we want to give a summary of the most important news.

Stargate Update

A central pillar to fulfill the vision of Cosmos is Stargate, a set of upgrades that will enable Cosmos blockchains to connect and exchange transactions of value and data via a standardized protocol for inter-blockchain communication, simply referred to as IBC.

Next to IBC, which will be supported by the Cosmos Hub as the first chain in production, other significant performance improvements to blockchains built with Cosmos SDK are expected through Stargate, such as:

  • a faster full-node synchronization process for chains built on top of Tendermint Core
  • automatic and much faster upgrades
  • full-featured light clients
  • increased throughput & performance as well as lower gas costs and easier UI development through Protobuf
  • a wider array of supported programming languages

As early Cosmos validators who have been proudly supporting the Cosmos network ever since Game of Stakes, we didn’t want to miss the chance to participate in the ongoing testnets and are eagerly awaiting for Stargate to be implemented on mainnet.

Ethermint v0.2.0 Release

Standard Ethereum functionality for Cosmos blockchains is provided through Ethermint, a Cosmos SDK module. Cosmos chains implementing Ethermint are interoperable with the Ethereum-Virtual-Machine, Ethereum smart contracts, client software and, tooling. The difference is that Ethermint uses PoS instead of PoW. It provides instant finality as well as IBC compatibility. Ethermint v0.2.0 has several bug fixes and improvements, which you can find here:

Tendermint Delegations

Picture taken from the original Tendermint post

Earlier this year, Tendermint unbonded the majority of $ATOMs held in their treasury with plans to re-delegate them to validators who have been active contributors to the Cosmos Network. At the beginning of the month, Tendermint published a list of validators that will receive part of that re-delegation.

We are grateful to be amongst the validators that have received such a delegation and want to thank Tendermint for their support as well as their efforts to push for a decentralized hub! Spreading their delegations across a set of 70 (out of 125) validators is a great example of how major entities can contribute to a more decentralized, healthy, and ultimately, secure network.

For a comprehensive list of Tendermint delegation recipients, check out this blog post:

Hackatom V — Cosmos Hackathon

Tinkerers, developers, and builders are invited to hand in their submission to the Cosmos Hackathon — Hackatom V — until October 30th and have the chance to win up to $50.000 in ATOMs.

While the main criteria is submitting functioning, well running and structured code, non-devs are also invited to participate and can contribute greatly by helping their projects to have good business sense, a well thought out go-to-market strategy, and real-world use.

There are several price pools with different objectives:

  • Gaia Awards for modules for the Cosmos Hub that increase its utility and go-to-market
  • Galileo Awards for innovative dApps built with Cosmos SDK/Tendermint & using IBC (optional)
  • Wormhole Awards for projects that provide Cosmos <> Ethereum interoperability using Peggy, Ethermint, Cosmos-SDK and more.
  • Gringotts Awards for DeFi projects that leverage the Cosmos SDK & IBC (optional)
  • Community Choice Award for the project that has the most likes on its Dev Post

Participants wil receive valuable input and feedback from a renowned jury consisting of Billy Rennekamp (Interchain Foundation), Aurel Iancu (Dokia Capital), Charlie Noyes (Paradigm), Erik Voorhees (Shapeshift), Nick Tomaino (1confirmation), Ethan Buchman (Informal), Brent Xu (Tendermint), Aidan Hyman (Chainsafe).

Winners will be announced Monday, Nov 9th!

If you are eager to contribute and actively co-create the Internet of Blockchains, make sure to participate!

For more, check out:

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