Confio GmbH — Empowering Blockchain Development.
Cosmos stands out as a frontrunner in providing a framework for interoperability compared to the legacy blockchain ecosystems. Nonetheless, a crucial element was missing from this equation: the capability to launch smart contracts and dApps, thereby adding more flexibility and security. This is where Confio GmbH comes into play, facilitating the blockchain development space with its innovative tools.
About Confio
Confio is a company dedicated to empowering blockchain developers to create better products faster. Its inception began with Ethan Frey, an early contributor to Cosmos-SDK and IBC and the mastermind behind CosmWasm. In 2019, recognizing the immense potential of CosmWasm, Ethan enlisted the support of Simon Warta and Misang Ryu. Later joined Martin Worner, and Confio GmbH was established officially in 2020.
This forward-thinking startup has a crystal-clear mission: equipping blockchain developers with the essential tools to create better products faster. Their flagship creation, CosmWasm, has evolved into a cornerstone of the Cosmos ecosystem, earning global recognition and adoption among developers.
The Journey of Growth
Confio’s journey has been one continuous growth and evolution. One of the key milestones in Confio’s journey was the development of CosmWasm, a smart contract platform focusing on security, performance, and interoperability. It is the only smart contracting platform for public blockchains with heavy adoption outside of the EVM world.
In 2020, CosmWasm got the attention of the Cosmos community: adoption by chains and long-term grants started to happen so the team could grow with more developers from Q2 2020.
In 2021, a significant breakthrough occurred with the launch of Gaia. This historic moment witnessed the first two CosmWasm smart contracts on different chains communicating seamlessly through IBC in Q1 2021. That year, Confio also started the discussion to deliver permissioned CosmWasm with Osmosis.
In 2022, CosmWasm’s meteoric rise was evident as its Twitter presence tripled, reflecting growing interest in this groundbreaking technology. The introduction of Sylvia added versatility to the CosmWasm ecosystem, while the successful launch of the CosmWasm Academy attracted over 500 eager students, reinforcing Confio’s dedication to a skilled developer community.
The year 2023 featured the standout AwesomWasm conference in Berlin, drawing attention from the global blockchain community. This event brought visionaries, developers, and enthusiasts together to explore the latest in CosmWasm advancements. Following AwesomWasm, HackWasm Berlin provided a platform for developers to showcase their creativity, invigorating the CosmWasm community. Confio’s commitment to innovation remained steadfast, evident in the continuous release of numerous CosmWasm versions, including the latest, CosmWasm 1.4.
As the Cosmos ecosystem flourished and an ever-growing community embraced their solutions, Confio’s impact on the blockchain space became increasingly undeniable. Their mission of “building trust” was resonating with developers, businesses, and community members alike.
Today, CosmWasm is at the forefront of adoption with more than 30 blockchains. Notably, Line’s NFT chain, boasting an impressive user base of 200 million, stands as a testament to its widespread use. Additionally, hundreds of dApps are using CosmWasm, extending its influence beyond the Cosmos ecosystem to become recognized as an indispensable tech stack alongside Cosmos-SDK, CometBFT, and IBC.
CosmWasm acclaim extends even outside the Cosmos domain, including the esteemed Composable Finance and Landslide. In fact, Composable and Landslide have incorporated CosmWasm into their operations, bridging it with Polkadot and Avalanche, respectively. Furthermore, Ethan Frey has generously shared his expertise and knowledge with Near and Stellar during their exploration of smart contracting platforms. Their participation in the panel at AwesomWasm, where they expressed gratitude, underscores the collaborative spirit and impact of CosmWasm.
By providing developers with powerful tools like CosmWasm, Confio contributes to the creation of blockchain-based applications and solutions that are inherently secure and trustworthy. These tools not only expedite the development process but also ensure that the end products are resilient to vulnerabilities and capable of fostering trust among users.
The Next Step
In late 2022 and early 2023, Confio encountered financial challenges due to the cryptocurrency market downturn. It navigated through numerous community funding proposals and faced funding halts without solid ground. That’s the reason why Confio is now entering a phase to enhance its business model. This revised strategy involves maintaining the open-source nature of the CosmWasm codebase while introducing a Software-as-a-Service (SaaS) offering. This SaaS service will include clearly defined counterparties as legal entities and a robust framework for deliverables for CosmWasm subscribers, ensuring a consistent incoming source for Confio and solidifying the long-term partnership with its subscribers from 2024.
In conclusion, Confio GmbH is more than just a blockchain development company; it’s a visionary force dedicated to building trust in a world that is becoming increasingly reliant on technology.
To stay up to date with Confio’s groundbreaking work and insights, be sure to follow them on Twitter and explore their blog for the latest updates.
