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Interchain Foundation's $40 Million Commitment to Cosmos Ecosystem

Explore the Interchain Foundation's investment in Cosmos ecosystem development and its impact on blockchain technology.
Published on 2023-02-21

Interchain Foundation's Strategic Investment

The Interchain Foundation (ICF) has announced a significant investment of $40 million in 2023 to advance the development of the Cosmos ecosystem. This strategic move aims to enhance the core infrastructure and applications within the Interchain Stack, which is already in use by around 50 blockchains.

Enhancing Core Infrastructure

The ICF's funding will focus on several key components of the Cosmos ecosystem. This includes the development of Tendermint Core, now known as CometBFT, the Cosmos SDK, Cosmos Hub, and the Interblockchain Communication (IBC) protocol. These technologies are crucial for supporting and enabling communication between various blockchains.

Supporting Smart Contract and EVM Technologies

In addition to core infrastructure, the ICF is backing the development of CosmWasm and Ethermint. These technologies have emerged as critical foundations for smart contracts and Ethereum Virtual Machine (EVM) compatible blockchains. Their development is key to expanding the capabilities and interoperability of the Cosmos ecosystem.

Promoting Adoption and Integration

To further drive the adoption and use of Cosmos, the ICF is funding several projects. Initiatives such as the Interchain Developer Academy, Cosmos Developer Portal, and Interchain Builders Program are designed to nurture developer skills and enhance the platform's utility. Moreover, the ICF supports integration with other leading blockchain technologies, including Polkadot and Hyper Ledger, to foster a more interconnected blockchain environment.

This substantial investment by the Interchain Foundation underscores its commitment to fostering innovation and growth within the Cosmos ecosystem, positioning it as a pivotal player in the blockchain technology landscape.

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