Paradigm
Paradigm
Jun 24 · 14 min read

Biweekly update 10th June — 24th June

Welcome to our first biweekly update on Cosmos Network!

Over a period of two weeks, the team was extremely active! Interchain Foundation’s Greg Szabo provided an introduction and overview of Ansible on the weekly Tendermint developer sessions. At the inaugural Cosmos conference in Berlin the team featured in two bonus Epicenter episodes. EP 1 talks about blockchain interoperability and features Jae Kwon. EP 2 tackles the issue of validators and governance in Cosmos. Such an engrossing listening! Worth to mention, the conference brought together over 200 people in the Cosmos community including many developers, validators and members of the Tendermint team! The conference was followed a two-day hackathon over the weekend, which was a lot of fun! As for upcoming events, HackAtom in Seoul and GopherCon in San Diego coming in July. Zaki Manian, Tendermint team’s head of research, will be presenting on the latest developments in multichain networks and Cosmos IBC during Web3 Summit 2019 in Berlin in August. These weeks the ICF ran a general-purpose funding program for projects that advance its mission of open, decentralized networks. Currently, the ICF is particularly interested in projects that expand the security and capabilities of the Cosmos ecosystem to more environments, including networks, languages, protocols, devices, browsers, etc. As such, the ICF is issuing a Request for Proposals to focus the funding on projects most critical to the development of the Cosmos ecosystem - including PoS improvements, Interchain infrastructure, ABCI frameworks and integrations, secure signers. The community constantly grows. There are a lot of projects building on the Cosmos ecosystem. It is impressive and continues to flourish! Developers have been working extremely hard over the period of the last two weeks so many updates on the projects appeared in the media landscape. IRIS released Rainbow V2.0 with Cosmos (ATOM) support. Kava blockchain was introduced - the first cross-blockchain DeFi platform enabling traders to leverage and hedge using a multi-collateral CDP system and collateral-backed stablecoin. Lunie announced three important libraries — Cosmos-API, Cosmos-Keys, and Cosmos-Ledger. Swishlabs and THORChain have shipped a one-way Ethereum bridge as part of their work with Interchain on Cosmos technology. The first BTC-pegged token released on a Cosmos SDK: BTCB. Lastly, these weeks team members wrote a lot on Libra. aLSO, Alex Skidanov tweeted on differences between Tendermint team and Libra approaches to consensus. More to follow. Stay tuned for Cosmos Network updates in the coming weeks!

Development

Github metrics:

Tendermint DEV session: Introduction to Ansible | Greg Szabo:

Interchain Foundation’s Greg Szabo provides an introduction and overview of Ansible on the weekly Tendermint developer sessions.

Documentation.

Request for Proposals — 2019 — Expanding Environments

by Interchain Foundation.

RFP-2019–EE-1: Proof-of-Stake Improvements

Blockchains in the Cosmos Network are secured via Bonded Proof-of-Stake mechanisms that incentivize co-ordination between validators and token holders and provide security guarantees to light clients and to other blockchains. The current mechanism on the Cosmos Hub is arguably the most advanced Proof-of-Stake implementation in the world, but there are many dimensions along which it can be improved. These include monetary policy, delegator and decentralization incentives, validator slashing risk, fee distribution, key management, interchain security, and much more. Of particular interest are ideas for “cross-chain collateralization”, where Proof of Stake deposits on one blockchain can be used, via IBC, to secure execution on many other blockchains. The ICF is looking for concrete descriptions of problems, as well as proposals and implementations for solutions.

Apply To:

  • Research, analyze, and document the design space and tradeoffs in Cosmos-style Bonded Proof of Stake mechanisms
  • Write a detailed specification, analysis, and/or simulations for a particular design
  • Implement a particular design using the Cosmos-SDK

RFP-2019–EE-2: Interchain Infrastructure (IBC, Pegs, Oracles, etc.)

At the heart of the Cosmos Network is the idea that digital rights can be securely transferred between distinct decentralized administrative domains like blockchains. In other words, groups of validators on one chain can hold and transfers assets on other chains. IBC is a formalization of this idea for so-called “Cosmos native” blockchains.

The ICF is interested in projects that expand the number and type of blockchains able to participate in this common distributed custodial infrastructure in general. This includes projects to enhance IBC or implement it in other languages, but also projects that support communication with non-Cosmos-native blockchain networks, like Bitcoin, Ethereum, Polkadot, Tezos, Zcash, Monero, and many more. Such constructions include “Pegs”, which peg value on one chain to control by another, but also “Oracles”, which provide more generic data feeds between chains. The ICF is interested in exploring many different peg and oracle designs on the many different platforms, and even on the same platform, and on implementing such designs as modules within the Cosmos-SDK and other ABCI frameworks. They’re also interested in the relationship between these designs and IBC.

Apply To:

  • Research, analyze, and document the design space and tradeoffs of peg, oracle, and other “bridging” designs
  • Write a detailed specification for a particular design
  • Implement a particular design
  • Implement modules in the Cosmos-SDK or other framework that support a particular design (eg. a module to detect Byzantine behaviour on another chain)

Example projects include:

RFP-2019–EE-3: ABCI Frameworks and State Machine Integrations

One of the key features of Tendermint Core is the ability to securely replicate arbitrary deterministic state machines in any language via ABCI. This applies not just to newly developed state machines, written with Tendermint in mind, but also to those written independent of Tendermint, or even despite it! We’re interested in seeing many more of the world’s state machines being integrated with ABCI, enabling them to run on Tendermint, including state machines for cryptocurrencies, like Bitcoin, Ethereum, Tezos, and Zcash; those for service-discovery, like etcd and Consul; those for arbitrary computation, like WASM; and those for various other interesting distributed applications (gaming, governance, etc.).

However, ABCI is a quite low-level protocol (say, like HTTP), and applications should actually be written using higher-level ABCI application frameworks (say, like Ruby on Rails). Integrations with existing state machines should use existing frameworks, or should proceed alongside development of new frameworks. The ICF is looking to expand the number of languages for which such frameworks exist, to ensure many state machines in that language can be easily integrated with ABCI. They’re also looking to expand the capabilities of existing frameworks, for instance by improving core functionality or adding new general-purpose modules. The ultimate goal is to enable application developers in any language to leverage the power of large-scale Byzantine Fault Tolerance.

Apply To:

  • Implement or improve an ABCI server in a particular language
  • Implement an ABCI framework for building applications in any language with an ABCI server
  • Improve an existing ABCI framework by adding or improving features or modules
  • Integrate an existing state machine environment into ABCI using a framework so it can run as a Tendermint application

Example projects include:

RFP-2019-EE-4: Signing on Mobile, Browsers, and HSMs

At the heart of every Cosmos blockchain are validators signing votes and users signing transactions. Signing is a critical, highly sensitive operation and is the foundation of all security in the system. They’re interested in extending the number of environments capable of securely signing messages in the Cosmos ecosystem. For validators, this means HSMs, almost exclusively. For users, it means mobile devices, browser extensions, native applications, HSMs, and even command line clients in other languages.

Apply To:

  • Implement a secure signing application

Example projects include:

  • Ledger Cosmos App
  • Lunie Chrome Extension

Social encounters

“Epicenter Live” and Interchain Conversations conference sessions

Two bonus episodes which features content from the recent Cosmos conference in Berlin.

Last week, Brian, Sunny, Meher, and Sebastien attended the Interchain Conversations conference in Berlin. As the inaugural Cosmos conference, it brought together over 200 people in the Cosmos community including many developers, validators and members of the Tendermint team. The conference was followed why a two-day hackathon (or HackAtom) over the weekend, which was a lot of fun!

This week, they’re bringing you two bonus episodes recorded from the Interchain Conversations conference!

Episode 1 — Epicenter Live and a Conversation with Jae Kwon

“Epicenter Live” on stage at Interchain Conversation (credit: Gregory Landua)

In this episode, you will hear the first edition of Epicenter Live, which they recorded on stage during the event. In this conversation, Brian, Sunny, Meher and Sebastien discuss the topic of blockchain interoperability from different angles.

  • What the blockchain interoperability landscape looks like today
  • The different approaches to shared security
  • How different blockchains address application composability
  • The importance of chain sovereignty
  • How stakeholders impact network governance
  • The concept of decentralized bots on Cosmos
  • The notion that Proof of Stake blockchains are in fact DAOs
  • The potential generalization of blockchains
  • Meher makes a great analogy between evolutionary biology and blockchains
  • The importance of exit mechanisms
  • The role of validators as enablers of a network and its applications
Q&A with Jae (credit: Zaki Manian)

The second part of this episode features Sebastien conversation with Jae Kwon, the founder of Cosmos. They sat down for a Q&A at the beginning of the conference to set the stage for the days to come.

  • Jae’s thoughts on how the network is running since launch
  • The role of the Tendermint company (All in Bits) moving forward
  • The potential for centralization and how to mitigate risks
  • Cosmos’ approach to security in contrast to other blockchains
  • The Interchain Foundation’s role in coordinating software upgrades
  • The IBC protocol roadmap
  • Jae’s role in both the ICF and Tendermint, and the potential conflict there
  • When we should expect Jae to get tattoos on his head

Episode 2 — Validator Panel and Governance Debates

Choose your validator wisely (credit: Sebastien Couture)

In the first segment of episode two, Brian moderates the validator panel which included Florian Liss of Staking Facilities, Hendrik Hofstadt of Certus One, Aurel Iancu of Dokia Capital, and Jun Soon Kim of stake.fish.

  • The role of validators in Cosmos and Proof of Stake in general
  • The pros and cons of having a large validator sets
  • How one should think about centralization in Proof of Stake
  • The distinction between decentralization in staking, governance and validator infrastructure
  • The risks associated with exchanges entering the validation space
  • The role of validators in making the Cosmos Hub more valuable
  • The long-term purpose of the Cosmos Hub in the ecosystem
  • How validators make decisions about which sidechains (zones) they stake
  • The criteria delegators should take into account when choosing a validator
Team’s favorite Byzantine General, Sunny Aggarwal

The second part of this episode is a governance debate moderated by Sunny. The first topic is on plutocracy and features Jae Kwon and Rigel Rozanski. The second is about revokable dictatorship and features Chris Goes and Jack Jampolin. There’s some real gems in this one!

These weeks events:

Cosmos AMA on 8btc: No Blockchain Is an Island, To Be “Internet of Blockchains”: 8btc invited Cosmos’ core developer Sunny Aggarwal and its director of community Chjango Unchained to have an online AMA with the Chinese crypto community. The discussion mainly centered around four keywords of the project.

June 13th — 14th: Interchain Conversations, Full Node room in Berlin, Germany.

June 15th — 16th: HackAtom: Berlin, Full Node room in Berlin, Germany.

The winners of Cosmos hackatom Berlin, in no particular order (Twitter thread).

Delegation Vouchers by Chorus One Team:

‏The team just published a write-up of their winning Cosmos hackathon entry: “Delegation Vouchers”. Check it out to learn more about this concept that would enable liquid staking positions, the use cases, and how it could benefit decentralization!

June 18th: Ethereum Meetup June: Interoperability Edition, Full Node room in Berlin, Germany.

June 19th: CryptoGeek AMA, WeChat. Back with CryptoGeek, Chjango Unchained, Director of Community, gave an AMA about the latest updates about the Cosmos SDK, Interblockchain Communication, and what’s in store for staking.

June 20th: Messari was hosting an AMA with Cosmos team.

Upcoming events:

June 24th: Interoperability of Blockchains & the Future of Internet, rent24 room in Berin, Germany.

July 19th — 21st: HackAtom: Seoul, Seoul Startup Hub room in Seoul, Korea.

July 24th — 27th: Cosmos Comes to GopherCon, Marriot Marquis room in San Diego, CA.

August 19th-21st: Zaki Manian, Tendermint team’s head of research, will be presenting on the latest developments in multichain networks and Cosmos IBC during Web3 Summit 2019, Funkhaus, Berlin.

Roadmap

Cosmos Hub Roadmap:

Governance Milestones

The following milestones will require voting by on-chain governance.

  • Proposal: IBC future tbd

An upgrade proposal may be created on the Cosmos Hub to add support for IBC, the Inter-Blockchain Communication protocol. IBC will allow other Cosmos SDK-based blockchains to connect to the Hub. Read more »

  • Proposal Passed: IBC future tbd

Success! The Inter-Blockchain Communication protocol is now supported by the Cosmos Hub. The IBC standard will allow blockchains that support it to connect.

  • Community Governance future tbd

At this point, the critical features of the Cosmos Hub has been activated by the community of Atom holders. Further governance of the network and upgrades to the software or blockchain state are left to the community. Read more »

Partnerships and team members

No updates.

Ecosystem

These weeks updates:

IRIS: Rainbow V2.0 is Released. We Support ATOM Now!

Rainbow v2.0 was released on June 21st, 2019 and it now supports Cosmos (ATOM)!

You can download it straight from the IRISnet Official Website,Google Play and overseas App Store.

The IRIS team has added some new functions in the latest version. Now you can:

1. create and manage one or more wallets for ATOM;

2. import the existing ATOM address into Rainbow through mnemonic;

3. transfer, delegate, redelegate, undelegate ATOM and withdraw the rewards;

4. create cold wallet and watch wallet to manage your ATOM better.

Introducing Kava — DeFi for Crypto Networks: Kava blockchain, the first cross-blockchain DeFi platform enabling traders to leverage and hedge using a multi-collateral CDP system and collateral-backed stablecoin (USDX).

Lunie: Announcing Cosmos-API, Cosmos-Keys, and Cosmos-Ledger: Three important libraries the team built for Lunie.io.

Phase 1 — Pegged Zone for Ethereum Shipped: Swishlabs and THORChain have shipped a one-way ethereum bridge as part of their work with Interchain on Cosmos technology.

The first BTC-pegged token released on a Cosmos SDK: BTCB.


Built with the Cosmos SDK

Projects that are actively building on the Cosmos ecosystem

Binance Chain

Binance Chain is developed by Binance and its community as the basis for a decentralized exchange. Binance is considered the biggest cryptocurrency exchange in the world in terms of trading volume. Announcement » DEX

e-Money

e-Money is the leading European provider of currency-backed stablecoins. The stablecoins are interest bearing and protected by an insolvency fund, which makes them unique in today’s market. Infrastructure Enterprise Stablecoin

IOV

IOV a universal protocol between blockchains and wallet users, is making it possible to send, receive and exchange any cryptocurrency from a single address of value. Wallet Name Service

IRISnet

IRISnet is designed to be the foundation for next generation distributed business applications. It is a BPoS blockchain, built with Cosmos-SDK, that enables cross-chain interoperability through a unified service model.Announcement » Enterprise

Kava

Kava is the world’s first Interledger solutions provider bringing blockchains, wallets, and exchanges the interoperability and liquidity of the Interledger.Announcement » Infrastructure

Lino Network

Lino is a decentralized autonomous content economy to determine its value and incentivize contributors in a more direct and effective manner.Announcement » Social

Loom

Loom is a Layer 2 scaling solution for Ethereum that includes a network of DPoS sidechains for highly-scalable games and user-facing DApps.Announcement » Games

Playlist

Playlist is a project aimed at tokenizing the music industry with their PLAY Protocol. Social

Regen Network

Regen Network is a global community and platform focused on ecological monitoring and regeneration. Announcement » Agriculture

Sentinel

Sentinel Network is a network layer that enables a true p2p and decentralized Applications & Resources marketplace. Announcement » Infrastructure

Terra

A price-stable cryptocurrency designed for mass adoption. We are building financial infrastructure for the next generation of decentralized applications.Announcement » Stablecoin Infrastructure

TruStory

TruStory is a building a social network for experts to identify what information is true and what isn’t in return for tokens. Announcement » Social

Check out the Full list of projects in Cosmos & Tendermint Ecosystem.

Rumors

Twitter:

The number for the circulating supply for ATOMs / @cosmos on @CoinMarketCap is totally wrong. I thought they’d have fixed this by now, but anyway. Here is a thread for what the correct number should be:

The only ATOMs that were not fully liquid at launch were those owned by @tendermint_team. This amounted to 23,619,895. So at launch the “circulating supply” was 236'198'958*0.9 = 212'579'062.

The @Libra_ release looks really amazing. Based on HotStuff (which is itself inspired by Tendermint!), written in Rust, with a new smart contract environment, open source license, and non-profit governance. All fantastic things. But the social implications are terrifying to me.

A short thread on HotStuff vs Tendermint for Libra.

Reddit discussions:

Let us make ATOM more popular than EOS! Leave a Like for ATOM and make ATOM the #1 cryptocurrency.

Earned my first full Atom via staking…. It’s not much (yet), but it’s (hopefully) honest work.

Other:

Tendermint Says Last Month’s Cosmos Vulnerability Exposed Security Loophole on CoinDesk.

Cosmos Code Review by Andre Cronje at Crypto Briefing: Dammit, Time To Build.

Crypto firm KR1 cashes in USD $360K worth of Cosmos (ATOM) tokens.

An Overview of Cosmos Hub Governance in Chorus blog.

Chris Remus working on a telegram bot that sends missed block alerts.

Social media metrics

Social media activity:

Social media dynamics:

Cosmos community continues to grow! There is a slight increase in the number of subscribers of Cosmos social media channels these weeks.

See also Cosmos forum and Matrix/Riot Chat.

There are also Community-managed Channels. These channels are managed entirely by members of the Cosmos community and do not represent official Cosmos or ICF announcements.

Telegram

Twitter Cosmos China

Twitter Cosmos Korea

Twitter Cosmos Japan

Cosmos Validator Working Group

There is a slight growth in Cosmos community over time. The graph above shows the dynamics of changes in the number of Cosmos Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.


This is not financial advice.

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Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

Paradigm

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Paradigm

In chaos lies the truth

Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

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