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29881
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% 0.95
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Market Cap:
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% 0.03
Fear & Greed:
75 / 100
Bitcoin:
$ 68.454
BTC Dominance:
% 52.7
Market Cap:
$2.57 T

Cosmos Interchain Takes a Significant Step!

Cosmos Interchain Takes a Significant Step!

The Cosmos Interchain Foundation allocated a budget of 26 million dollars for ecosystem development in the year 2024.

The Switzerland-based Cosmos Interchain Foundation (ICF) has allocated a significant budget of 26.4 million dollars for 2024 to sustain the ecosystem of the interchain communication protocol known as Cosmos, which is the core developer behind Cosmos.

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A portion of this budget will be dedicated to CometBFT, a Byzantine fault-tolerant engine for Cosmos state machine replication. This software development kit and the inter-blockchain communication protocol (IBC) of Cosmos’ native blockchains will also receive a substantial share.

The remaining budget will be directed towards areas such as the smart contract framework CosmWasm, digital library CosmJS, and ecosystem security audits. Maria Gomez, the director of the ICF board, mentioned that this funding program is designed to strengthen the free and open-source Interchain Stack and plays a catalyst role in connecting blockchains.

Although Cosmos’ IBC bridge currently connects 46 blockchains with a total token value of 13 billion dollars, the target of reaching 200 IBCs by the set date of 2022, as determined in November 2021, has not been achieved yet.

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