Blockchain Weekly Digest — January 15th, 2024
Introducing Partial Set Security (PSS), introducing Model-Based Testing for the Cosmos Hub, launch Aether EVM as a Consumer Chain for the Cosmos, Cardano weekly development update, Kava Chain: Tokenomics 2.0, and Harmony 2024: ONE Finality.
In this week’s Blockchain Digest covers various developments in the blockchain space, including the initiation of the Cosmos Hub Improvement Process introducing Partial Set Security (PSS) for interchain security, the use of Model-Based Testing (MBT) for enhancing the Cosmos Hub’s development process, the launch of Aether EVM as a consumer chain for the Cosmos with a focus on Free Open Source Software (FOSS) principles, Cardano’s weekly development update highlighting improvements in node, consensus, Plutus tools, and governance, Kava Chain transitioning to Tokenomics 2.0 with zero inflation, and Harmony’s plans for “ONE Finality” in 2024, introducing new tokens and emphasizing 1-second transaction finality, low fees, and high data availability. Navigate through the quiet, yet captivating waters of the crypto world in this weekly roundup. Keep reading for a detailed exploration of each update.
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Cosmos
Introducing Partial Set Security (PSS)
The initiation of the Cosmos Hub Improvement Process in 2024, introducing the concept of Partial Set Security as a potential advancement in interchain security. Partial Set Security aims to enhance Opt-in Security by allowing a subset of Hub validators to run physical nodes for consumer chains, addressing concerns about high validation costs. The approach involves validator delegation to maintain decentralization and security, and it is currently in the discussion phase within the Cosmos Hub Improvement Process (CHIP).
Read the forum 👉 here and share your feedback.
Partial Set Security (PSS) as a potential advancement in Interchain Security, highlighting the opportunity it creates for launching consumer chains in a permissionless manner. The discussion within the Cosmos community focuses on two development pathways: transaction-based (fully permissionless) and proposal opt-in (permissioned-lite), with the Cosmos Hub Improvement Process (CHIP) serving as a framework for community participation in shaping advancements.
Read the forum 👉 here and share your feedback.
Introducing Model-Based Testing for the Cosmos Hub
The use of Model-Based Testing (MBT) in the context of Interchain Security, a protocol of the Cosmos Hub. The team at Informal Systems is using MBT to enhance the development process, aiming to add features and improve the protocol’s usefulness while ensuring safety. MBT involves creating executable models that serve as high-level reference implementations, aiding in aligning the plain-English specification with the actual code. It highlights the advantages of using the Quint language for modeling, its readability, and the ability to execute models to ensure alignment with the implementation. The combination of model-checking and model-based testing is presented as a powerful approach to ensure correctness. While acknowledging the time investment in creating models, it suggests that MBT is most useful for established and stable codebases, providing increased confidence in making adjustments to the protocol. The conclusion emphasizes the importance of addressing divergence between specifications and implementations in critical systems and promotes MBT as a promising solution.
Read the blog post 👉 here.
Launch Aether EVM as a Consumer Chain for the Cosmos
The integration of Aether EVM into the Cosmos Hub as a Free Public Infrastructure (FPI) with secured interchain replicated security, seeking support from the Cosmos Community. Aether aims to deploy an Atom stakeholder-aligned EVM without sunk time or capital cost, aligning development with the Cosmos Hub, and providing DeFi primitives to strengthen ATOM’s utility. It emphasizes the importance of EVM culture for onboarding new teams, expanding ATOM’s utility across the Cosmos ecosystem, and generating long-term revenue for the Hub. It outlines governance votes, revenue-sharing agreements, and highlights the benefits of Aether as a fresh start with a focus on Free Open Source Software (FOSS) principles and symbiosis with the Cosmos Hub.
A consumer chain testnet rehearsal is scheduled for January 17th!
Read the forum 👉 here and share your feedback.
Cardano
Cardano Weekly Development Update
The latest update in Cardano’s development includes the release of node v.8.7.3, addressing a minor issue in ouroboros-network. The consensus team worked on implementing the second iteration of the in-memory ledger database and simplified query versioning. The Lace team released version 1.8, resolving a signData method bug and adding stake pool rewards performance. In smart contracts, Plutus tools improved Marconi’s synchronization time and memory footprint, while the Marlowe team enhanced marlowe-plutus and worked on volume benchmarking. The scaling teams, Hydra and Mithril, focused on Conway support, chess game implementation, and improving node communications. The update also mentions progress in Cardano’s governance with the Voltaire team’s contributions, including the release of an interim constitution and technical guardrails. The transition of Cardano’s core repositories to Intersect’s stewardship signifies a step towards decentralized governance. SanchoNet’s progress and Catalyst’s ongoing activities, including the Fund11 review and voter registration, are also highlighted. Finally, the education team focused on planning activities and publication options for Mastering Cardano.
Read the blog post 👉 here.
Kava
Kava Chain: Tokenomics 2.0
In 2024, Kava Chain, a decentralized finance (DeFi) pioneer, is transitioning to tokenomics 2.0 by implementing zero inflation, marking a significant shift in its economic model. Kava Chain, initially focused on cross-chain payments, pivoted towards DeFi, becoming a leader in the Cosmos ecosystem through key partnerships with Ripple and Binance. In 2022, it evolved into an EVM-based Cosmos-Ethereum interoperable Layer 1 blockchain, attracting numerous dApps and partnerships. The year 2023 saw Tether issuing native USDt on Kava Chain, solidifying its role as the gateway for USDt on Cosmos. A strategic partnership with Stargate further enhanced security and interoperability. The introduction of the Strategic Vault, as part of Governance Proposal 141, culminated in the minting of the final inflationary Kava token, fixing the supply at around 1 billion on January 1, 2024. Kava’s future objectives include improving infrastructure, protocols, and building a robust community within the Ethereum ecosystem, with a focus on enhancing Tether’s market share and on-chain volume. Overall, Kava Chain’s trajectory reflects adaptive leadership and commitment to evolving in the dynamic Web 3 space, poised to significantly influence on-chain finance in 2024 and beyond.
Read the blog post 👉 here.
Harmony
Harmony 2024: ONE Finality
Harmony aims to introduce “ONE Finality” in 2024, utilizing data sharding and calldata inscriptions for seamless management of token portfolios, web domains, and AI bots without smart contracts. The platform plans to launch new tokens, including $SWAP, $LEND, $BRIDGE, and $STABLE, to unlock facets of decentralized finance. Harmony emphasizes 1-second transaction finality, low fees, and high data availability on Shard 1 for gaming, AI, and social applications. The expansion of Minimal-On-Chain infrastructure and innovative features like embedded wallets, Robby, and Privy aim to enhance user experience. Harmony is actively engaged in blockchain gaming, AI tooling, and global talent recruitment, with plans for novel community engagement through quests for $SOUL tokens and NFTs.
Read the blog post 👉 here.
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