Switzerland-based Interchain Basis (ICF), the core developer behind the cross-chain communications protocol Cosmos, will allocate $26.4 million for sustaining the mentioned ecosystem subsequent 12 months.
In keeping with a Dec. 13 announcement seen by Cointelegraph, the ICF 2024 roadmap “prioritizes funding for the Interchain Stack’s optimum performance.” Out of the quantity, $3 million shall be allotted to CometBFT, Cosmos’ Byzantine fault-tolerant engine for state machine replication. In the meantime, $4.5 million will go towards the Cosmos software program improvement package, and $7.5 million shall be allotted to Cosmos’ native inter-blockchain communications protocol (IBC).
The remaining $4.155 million will go towards good contract framework CosmWasm, digital library CosmJS, and ecosystem safety audits. “This 12 months’s funding program is designed to fortify the free-to-use, open-source Interchain Stack, serving as a catalyst for enhanced blockchain interconnectedness,” mentioned ICF board director Maria Gomez, including, “The position we play within the ecosystem is that of a steward that aids the interchain to realize its aim of interoperable sovereignty.”
Cosmos’ IBC bridge at present connects 46 blockchains with a mixed token worth of $13 billion. Though loads, it stays under the 200-IBCs-by-2022 goal set out by Cosmos core developer Tendermint (now Ignite) again in November 2021.
This 12 months, the ICF allotted a complete of $40 million for ecosystem improvement in areas such because the Interchain Developer Academy, the Cosmos Developer Portal, and the Interchain Builders Program, in addition to integration with different blockchain applied sciences corresponding to Polkadot and Hyperledger. Though there have been quite a few hacks surrounding cross-chain bridges, they’ve largely steered away from the Cosmos ecosystem.
The Inter-Blockchain Communication Protocol is increasing and securing $30B+ in annual asset transfers for 100+ chains.
It is time to speed up #IBC product adoption!
Introducing: @IBCProtocol
The primary IBC channel devoted to the expansion of developer & researcher audiences. pic.twitter.com/ZMUdcatsS8
— Cosmos – The Interchain ⚛️ (@cosmos) November 28, 2023
Associated: What’s Cosmos: A newbie’s information to the ‘Web of Blockchains’
