Tag: Cosmos

Solana Apps May Soon be Ported to Cosmos Ecosystem

by Blockchain News

Developers of Solana Web3 apps may soon be able to port their apps to the Cosmos ecosystem, creating new opportunities for users and providing a greater variety of uses for Cosmos blockchains. This information has been made available as a consequence of a recent announcement made by Injective (INJ), a developer of a network based on Cosmos. The Injective team has reportedly launched a layer-2 testnet that makes use of Solana’s Sea Level Virtual Machine, as stated in the announcement that was made on the 30th of March (SVM). Because of this new advancement, certain Solana developers are now able to test their applications for usage in the Cosmos environment without having to switch either the programming language they use or the tools they use.

This marks a significant advancement for the Solana community as well as the Cosmos community. Developers can now reach a new audience and provide users with more opportunities to engage with their apps by porting Solana Web3 apps to the Cosmos ecosystem. This allows developers to expand their potential user base. In addition, the Cosmos ecosystem is able to capitalize on the benefits of Solana’s high-speed and low-cost transactions, which positions it favorably in comparison to other blockchain ecosystems.

Eclipse, a company that offers specialized zero-knowledge and optimistic rollups for software developers, was enlisted to assist in the development of the brand new layer-2 testnet. Eclipse has been instrumental in the creation of this new layer by utilizing their expertise to develop a safe and effective layer-2 solution that enables the seamless integration of Solana Web3 applications into the Cosmos ecosystem. This solution was made possible thanks to Eclipse’s contribution to the development of this new layer.

This brand new development is currently going through the testing phase, but it shows a lot of promise for the future of the Cosmos and Solana ecosystems. Because there will be more opportunities for cross-chain compatibility, developers will be able to create applications that are even more robust and innovative, and these applications will be able to take advantage of the distinctive characteristics of both Solana and Cosmos. As a consequence of this, the prospects for the future of the blockchain technology are more encouraging than they have ever been.

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Interchain Foundation to Spend $40 Million on Cosmos Ecosystem Development

by Blockchain News

According to an announcement made by the Interchain Foundation (ICF) on February 20 in a Medium post, the nonprofit organization that was responsible for the creation of the Cosmos (ATOM) interblockchain communications (IBC) ecosystem has committed to spending approximately $40 million in 2023 to develop its core infrastructure and applications. Around fifty different blockchains, such as Tendermint Core (which has since been renamed CometBFT), Cosmos SDK, Cosmos Hub, and the IBC protocol, all make use of the Interchain Stack.

“Throughout the course of the year, we plan to engage additional teams to offer more manageable tasks that are more specifically defined within each area of work. These contracts will be used either to augment the work of the teams listed below or to serve the requirements of those teams as they develop over the year.

CosmWasm and Ethermint are two technologies that, according to the company, have become the “foundations of smart contract and Ethereum Virtual Machine (EVM) compatible blockchains.” The Internet Commerce Foundation (ICF) is helping to fund the development of both of these technologies.

The International Community Foundation (ICF) will provide funding for initiatives that, in addition to fundamental infrastructure, encourage the adoption and use cases of Cosmos. These include integration with other blockchain technologies such as Polkadot and Hyper Ledger, as well as initiatives such as the Interchain Developer Academy, the Cosmos Developer Portal, and the Interchain Builders Program. Other similar programs include the Cosmos Developer Portal.

A “large backlog of applications” led to the suspension of the ICF’s public Small Grants Program in 2018, however the organization has said that it has every intention of resuming operations of the program in 2023.

It intends to restart the program in due time and is inviting teams to seek out to the Builders Program for mentoring and help in areas unrelated to finances. For the time being, the ICF advises software developers to make use of its ATOM delegation program in order to get access to contribution benefits.

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Injective Launches $150 Million Ecosystem

by Blockchain News

Layer-1 blockchain technology Injective, which was established in 2018, has announced the introduction of a $150 million ecosystem fund to help developers that are developing on the Cosmos network.

The so-called ecosystem group is supported financially by a large consortium of venture capital and Web3 companies. These companies include Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, IDG Capital, Gate Labs, and Flow Traders.

According to Injective, the consortium has amassed the most members out of all those that have been formed inside the greater Cosmos ecosystem.

According to Injective, developers who are chosen for the fund will get help in the form of “bespoke token and equity investments”, in addition to mentoring, technical assistance, business growth, and marketing.

The greatest attention will be given to projects that are developing decentralised financial infrastructure (DeFI) and interoperability infrastructure.

The construction of trading platforms, scalability solutions, and proof-of-stake infrastructure are all initiatives that will benefit from the allocation of these funds “

In terms of stage, the organisation is generally interested in early-stage enterprises (seed to Series B), but it is open to the possibility of considering follow-on investment on an individual basis as well.

The amount of financing that is granted to each project will vary according to the stage it is currently in and the requirements it must meet in order to achieve the overall aim of ensuring that each project is successful.”

Injective is a decentralised smart contracts platform that was constructed using the Cosmos SDK, which is a development kit that encourages speedier and more cost-effective infrastructure than Ethereum. Injective is also known as the Injective Protocol.

According to Chen, in comparison to other blockchains, Cosmos has more adaptability, opportunities for customisation, and horizontal scalability.

According to CoinMarketCap, Cosmos is the 20th biggest blockchain network due to its market value of over $3.7 billion.

The term “decentralised finance” first appeared in public discourse in the summer of 2020, at the same time when a number of noteworthy projects initiated a bull market in cryptocurrencies not long after Bitcoin’s quadrennial halving.

Even though decentralised finance (DeFi) activity has slowed down over the course of the last year, the industry as a whole has been mostly immune to the problems that have been afflicting centralised finance (CeFi) platforms.

According to Chen’s additional explanation, “the decentralised structure of DeFi protocols provides for better transparency and actual control over assets,” which will always be a fundamental benefit over centralised finance.

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Cosmos Hub Postpones Vote Date On New Security Model Proposal

by Blockchain News

After two respective postponements, the Cosmos’ vote date to approve proposed changes to the network’s Hub has now been fixed to October 31.

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The proposed changes by the Cosmos developers are said to mark Cosmos Hub’s transition to the next phase as an infrastructure service platform and a renewed role for ATOM as preferred collateral within the Cosmos Network.

According to the proposal document, the Cosmos Councils, formed by domain-specialized entities, would be in charge of the proposed plan and also be responsible for the execution of development and operations.

The proposal on-chain voting was initially scheduled for October 3, prior to the project’s updated version of its white paper, which the initial version was introduced in September. 

The whitepaper proposed the project’s plan to rebuild its Hub to be more interoperable and secured with a mechanism called interchain security. This mechanism allows application-specific chains in the Cosmos ecosystem to secure themselves using the Cosmos Hub.

The whitepaper also included critical changes to the Cosmos token (ATOM), with a new issuance model focused on striking an improved balance between growth and interchain adoption of the ecosystem while still maintaining the security provided by the original regime – according to the whitepaper.

Another sector the whitepaper centers on are two functionalities, namely Interchain Scheduler and Interchain Allocator, including a new optimized issuance regime for liquid staking.

Cosmos is an interoperability ecosystem of several blockchains that can scale and interact with one another using the Inter Blockchain Communication (IBC) protocol via the Cosmos Hub. 

The Cosmos Hub is the first blockchain built in the Cosmos ecosystem; it initially acted as an intermediary between other interconnected blockchains.

Coupled with Cosmos’ updated version of its white paper, the ecosystem has so far proved to be a developing one. It has a total of 14 chains inhabiting the ecosystem, with Cronos chain being the most dominant with a total value locked of roughly $810.71 million, according to data from DeFiLama.

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Secret Network Announces Partnership with Modular Settlement Layer dYmension

by Blockchain News

Secret Network, which provides data privacy for smart contracts, announced a partnership with dYmension, which will provide the tools and infrastructure to network and aggregate Cosmos ecosystem layer 2 data, reducing the pressure on on-site traffic and expanding derivability.

dYmension’s blockchain platform is the first settlement layer supporting enshrined rollups in the Cosmos ecosystem. An enshrined rollup is a scaling solution that is embedded in the protocol logic, resulting in dramatic improvements in scale and cost.

Yishay Harel, CEO of dYmension, expressed his hope to find innovative scaling solutions so they can continue to grow.

Secret Network is the first blockchain with data privacy by default, allowing users to build and use both permissionless and privacy-preserving applications. This unique functionality protects users, secures applications, and unlocks hundreds of new use cases for Web 3, using Tendermint’s Byzantine fault-tolerant consensus algorithm of Proof of Equity (PoE).

Guy Zyskind, CEO of SCRT Labs, said about the partnership that “Secret Network’s user base has grown astronomically in the past few years, and the blockchain becomes more complex with that kind of growth. We want to continue to be the platform people use to build on Cosmos and to do that, we must ensure our platform keeps operating flawlessly.”

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Analyst Says One Altcoin Primed To Skyrocket, Gives Update on Ethereum (ETH), Terra (LUNA) and Avalanche (AVAX)

by Dailyhodl

The anonymous host of cryptocurrency channel InvestAnswers is listing one altcoin that he expects to “skyrocket.”

InvestAnswers tells his 409,000 YouTube subscribers that Cosmos (ATOM), a network of many independent but interconnected blockchains known as zones, is slated to surge by about 40% in a month or less.

“It’s pretty clear to me that we will hit $45 in probably a month or less. It [ATOM] just looks absolutely perfect and set to skyrocket as we go forward. Not much selling pressure on the horizon and we should be able to get to that level [of] $45 which it hit four or five times in the last couple of months.”

ATOM is trading at $31.08 at time of writing.

Next up, InvestAnswers says that Ethereum (ETH) is currently at the 0.5 Fibonacci level, a key Fibonacci retracement level that represents the halfway mark of a prevailing trend.

The crypto analyst adds that ETH could hit a new all-time high if it manages to break above the 50 and 200-day moving averages.

“We’re now getting close to the 0.5 Fibonacci level, about $3,300. Notice as well we need to break through the 50-day moving average. And then the next is to break through the 200-day moving average. And then we’ll get to hopefully $3,700. After that, $4,150. After that, new all-time high $4,800.”

ETH is trading at $3,146 at time of writing.

Next up is the native token of Terra (LUNA), a blockchain protocol consisting of a suite of decentralized stablecoins.

The crypto analyst says that LUNA is eyeing the $65 price level after bouncing off the 200-day moving age.

“This one [LUNA] is making a nice recovery too…

We are heading back towards the 0.386 Fibonacci level of $65. And then after that, you know LUNA can move very very fast when it wants to.”

LUNA is trading at $55.55 at time of writing.

Next up is the native token of Avalanche (AVAX), a smart contract-enabled blockchain. The crypto analyst says that AVAX is in an overbought zone based on the Relative Strength Indicator (RSI). The RSI indicator ranges from 0 to 100 – where 70 or higher indicates overbought conditions, and potentially the end of a rally, while 30 or lower indicates oversold conditions, and potentially the end of a sell-off.

“Avalanche did get rejected off the $95 level. It’s now at about $87 and the RSI is quickly approaching overbought…

Avalanche chart might be running a little bit out of steam, we’ll see. But hitting $95 was a clear selling point.”

AVAX is trading at $88.85 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Solana (SOL), Avalanche (AVAX) and Two More Altcoins Will Survive ‘Crypto Winter’: Morgan Creek’s Mark Yusko: Report

by Dailyhodl

Morgan Creek Capital Management’s Mark Yusko is naming four crypto assets that he believes could withstand a market downturn relatively well.

According to a Business Insider report, Yusko says that the native tokens of smart contract-enabled blockchains Solana (SOL), Avalanche (AVAX), Cosmos (ATOM) and Polkadot (DOT) are among the crypto assets capable of surviving a bear market.

In the case of Solana, the Morgan Creek founder says that the seventh-largest blockchain by market cap is a “great protocol.”

“There’s probably still some potential volatility in the price ahead. But long term, I think it’s a great protocol.”

According to Yusko, cryptocurrencies will be in a bear market for the next 12 months or so before the next Bitcoin halving event kicks off a bull cycle.

“What you’re seeing is crypto is definitely in a bear cycle. It’s going to struggle for the next 12-ish months then we’ll go back to the next bull cycle triggered by the next halving event.”

The last Bitcoin (BTC) halving event occurred in May of 2020. The next one is expected to take place during the first six months of 2024.

Yusko also says that Bitcoin is not correlated to stocks though it might appear to be so on shorter time frames. For instance, Bitcoin is down 7.77% year-to-date compared to the tech-heavy Nasdaq which has fallen 9.89% year-to-date in the wake of the Federal Reserve’s intentions to hike rates.

“You can’t calculate correlation over the short-term. Just the math doesn’t work. And so yes, it is true that in times of stress, ‘all correlations go to one.’

Zoom out, the correlation of Bitcoin to equities is 0.15 for long periods of time. Some weeks, some months, it goes higher, but over the long term, it’s still 0.15 and to bonds, it’s 0.”

Correlation can take a value of between -1 and 1. The higher the value, the stronger the correlation, and the lower the value, the weaker the correlation.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Cosmos Records 20% Gain, What’s Behind The Boom In Its Ecosystem

by NEWSBTC

The Cosmos ecosystem has seen an explosion of interest in the past year. Projects like Terra (LUNA) have increased its numbers of users and will continue to boost its position in the crypto space as its ecosystem keeps expanding.

Related Reading | Cosmos (ATOM) Jumps 36% WTD: What’s Driving Its Price Rally?

As of press time, Cosmos (ATOM) trades at $32,57 with a 7% profit in the past 24 hours. The cryptocurrency follows the general sentiment in the market, as Bitcoin (BTC), Ethereum (ETH), and other large cryptocurrencies trend to the upside in lower timeframes.

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Cosmos ATOM ATOMUSDT
ATOM with bullish momentum on the daily chart. Source: ATOMUSDT Tradingview

In an official blog post, the team behind Cosmos recently announced the new project to be release as testnets in 2022. The team celebrated Terra, Secret Network, Osmosis, and other projects in the ecosystem and announced others that will be introduce this year. The team said:

Many up-and-coming projects are running testnets and incentivized testnets that will precede their debuts to mainnet this year.

A testnet, as explained by the post, are a widely use tool for internet development. They let developers test upgrades, products, and more before deploying on a mainnet. A test network or testnet simulate that original environment to carry out such test under similar conditions as if they were already deployed.

Developers and users benefit from testnets because it allows the former to discover and fix bugs and issues, improve user experience, and the latter to leverage a clean and battle tested software. The Cosmos ecosystem holds over $100 billion in terms of total value locked, testnets provide an additional layer of development to guarantee its safety and optimal stability. The team said:

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Over the years, Cosmos testnets have proven to be extensively successful in many areas, such as uncovering issues with the consensus engine, state machine, and even the operational setup of validators.

Top Projects To Watch On Cosmos For 2022

Amongst the projects cited by the Cosmos team, there is Archway. This incentivized smart contract platform will provide the ecosystem with CosmWasm integration and enable direct developer reward into the protocol. In that way, developers, users, and early investors will receive a share of the rewards from launching a product.

Archway will launch “Augusta”, its first incentivized testnet in March 2022. Users will have a chance at earning rewards during this tesnet’s different stages.

In addition, Archway will be accompanied by Celestia, Cosmos’ first “modular blockchain network”. This platform will allow developers to deploy their own virtual machines without, according to the post, having to “bootstrapt their own consensus network”. Thus, bringing new dApp possibilities into the ecosystem.

The project is currently on its devnet phase, but once deployed it’ll let applications to maintain a high level of sovereignty and security with a high degree of scalability. Celestia’s public testnet is set to be rollout at some point in Q2, 2022.

Moreover, the Cosmos will see the launch of Tgrade, the “first regulated DeFi platform”, the protocol will operate with a mix between Proof-of-Stake (PoS) and Proof-of-Engagement (PoE). Unlike regular PoS project, Tgrade will reward all of its community via its PoE mechanism.

Related Reading | Terra (LUNA) Holders Approve New Sports Sponsorship Deal

Finally, this ecosystem will see the rollout of Umee with an incentivized testnet for its lending and borrowing platform. However, many more projects will be introduced via tesnets and on the mainnet making this network one to continue to watch on 2022 and beyond.

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2022 Will Be Big Year for Cosmos (ATOM), According to Coin Bureau – Here’s Why

by Dailyhodl

The host of popular crypto channel Coin Bureau has a bullish outlook for decentralized parallel blockchain network Cosmos (ATOM) in 2022. 

In a new video, the analyst known as Guy tells his 1.93 million YouTube subscribers that Cosmos developers are now creating demand drivers that could push ATOM higher this year.

He cites the Vega update in December that introduced new features and major upgrades to the network.

“For what it’s worth, I’m confident that Cosmos will find a way to add value to ATOM both inside and outside of its ecosystem. From where I’m standing, it looks like it’s focused on exactly that, the Vega update for example. I truly believe that 2022 is going to be a big year for Cosmos so long as we don’t enter another crypto winter.”

Cosmos is an ecosystem of parallel blockchains that can communicate in a decentralized manner. The Vega update aims to enhance the performance of the Cosmos Hub and ensures the seamless adoption of future upgrades.

As ATOM currently trades for $30.81, Guy identifies a critical price resistance that he says will likely be a determining factor in its price action.

“Cosmos’ announcements, upgrades and developments have taken ATOM on a tear, but it’s only up about 50% since I last covered the project in September.

Besides the general weakness we’ve seen in the crypto market since December, ATOM has tried and failed to claim the $45 mark three times over the last few months. Unfortunately, this means that it’s likely to see a lot of resistance if and when it approaches those levels again…

As far as ATOM’s price potential goes, it’s hard to say. Cosmos is a large-cap cryptocurrency as it is, and this means it will be hard for ATOM to pull more than a 3x or a 4x before the bull market is over.”

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Winter is coming! Here are 5 ways to survive a crypto bear market

by Cointelegraph

The cryptocurrency market has an interesting way of catching even the most seasoned veterans off guard as each bull and bear market initially shows similarities to previous cycles only to veer off in an unexpected direction and wipe out the fortunes of newly minted crypto millionaires. 

This was the case with the weak close of 2021 which completely went against the bullish $100,000 BTC price estimates that crypto analysts and influencers were peddling nonstop.

Currently, Bitcoin price is more than 50% away from its $69,000 all-time high and altcoins have fared worse, with many down more than 60% in the last 2 months. In times like these, traders need to regroup and re-evaluate their investment strategy, rather than just buying every price dip.

Here are five strategies traders can use to survive an unexpected crypto winter and retain as much value in one’s portfolio as possible.

Reduce exposure to highly volatile altcoins

Once a widespread market downturn commences, the first step to take is to reevaluate current positions and reduce exposure to the most volatile assets.

Oftentimes these are new projects that have come out of the trending sectors of the crypto market such as meme coins, NFTs or rebase projects like Wonderland (TIME), because many of the token holders are new to the community and not long term investor like the user bases for more established projects.

A good way to begin the evaluation process is by looking at a project’s GitHub account to see the level of activity and the number of developers dedicated to building out the protocol.

If there is hardly any development despite flashy marketing gimmicks and big promises, the project may be one an investor should cut when the market begins to lose momentum.

Traders could then put these funds in stablecoins that can be staked to earn yield or buy future market dips.

Dollar-cost averaging

Dollar-cost averaging (DCA) is the process of buying an asset in tranches over time to average out the price paid and account for volatility-induced changes in price.

While DCA strategy is a good way to increase exposure to fundamentally sound projects over time, it is usually best to wait until after the dust has settled somewhat and a period of consolidation has commenced.

The focus of dollar-cost averaging should be on projects that have active development, engaged communities and a roadmap that lays out how the project will continue to grow and remain viable in the future.

Staking

Staking is perhaps the simplest way to increase the value of a portfolio long-term and it removes the pressure of obsessing over daily price fluctuations since the staked asset is continuing to accrue tokens.

Most layer-one protocols offer the ability to stake their native token on the network to earn a yield, including Solana, Cardano, Polygon and Avalanche.

Ether holders can also stake their tokens on the beacon chain for Eth2, but it’s important to note that staking rewards will not be able to be claimed until Eth2 is fully launched.

There are many other staking options out there from gaming protocols like Axie Infinity and Illuvium to NFT marketplaces like LooksRare, so once a deep dive has been made and fundamentally sound projects are chosen, staking becomes a matter of setting it and forgetting it.

Find projects with growing ecosystems and perks

Projects that help token holders earn via staking, liquid staking, borrowing and airdrops are also worth considering when the market turns bearish.

Staking is the simplest form of this as the number of tokens increases over time, but other options include token launchpads, NFT marketplaces and protocols known for offering airdrops to community members.

One example of a protocol where early adopters are being rewarded is the Cosmos (ATOM) network and its growing community of projects connected via the Interblockchain Communication Protocol (IBC).

ATOM stakers and those who have engaged with the Osmosis (OSMO) decentralized exchange have been rewarded with a long list of airdrops from projects launching within the ecosystem as a way to help bootstrap activity within their communities.

Invest in yourself

One of the most personally beneficial things an investor can do during a down market is to invest in themselves by learning something new.

Not only will this help investors to avoid the urge to sell and miss out on future gains, but it can also lead to new avenues to build wealth.

Despite the market downturn, cryptocurrencies continue to advance along the path to mass adoption and the number of jobs in the blockchain sector is only going to increase moving forward.

Whether it’s learning to program in Solidity, experimenting with graphic and digital design to create a new line of NFTs or just doing research to gain a deeper understanding of the various sectors of the market.

Ultimately, the key to surviving a bear market is staying positive and being patient.

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.