12.5 C
New York

Cosmos shakes off drama amid 50% staff lay off, Lambda update means increased security


Despite a 50% Tendermint staff  lay off, Cosmos has gone up by 10%. Cosmos has managed to kick in some competing developments. 

First, Tendermint, the creator of the Cosmos chain back in 2016, parted with more than half of its employees,” according to CoinDeskWhile some were simply let go, others agreed to take the severance package “against the backdrop of a contentious re-organization” and rebrand to “Ignite.”

Since May,the drama has continued, starting with the return of Jae Kwon, the cofounder of Tendermint, who has sparked a lot of controversy within the company. Numerous feuds with other executive members have left the company in a divisive state catalyzing the split of Tendermint into Tendermint and Ignite. 

Marketing and community outreach protocols have fallen to the Interchain Foundation, led by Ethan Buchman, Cosmos’ other cofounder. These organizations are small pieces of a larger puzzle. 

“Cosmos is built to be an “internet of blockchains,” where developers “collaborate across team lines,” as Billy Rennekamp (Product Lead of Cosmos Hub) described it on Charlie Shrem’s Untold Stories podcast in April. “We’re excited about their new feature, because we want each blockchain to have its place in the world.”

Cosmos has a total of 49 apps and services, including Binance, THORChain and KuCoin. Cosmos has become, in its development, the closest competitor to the Ethereum blockchain. 

Cosmos offers its users a set of tools they can use to program without writing everything from scratch. It has an Inter-Blockchain Communication protocol which allows for the communication of apps through the several platforms on the Cosmos Hub. 

The Cosmos Hub is the first blockchain in Tendermints list of ecosystems and serves as the vessel where people stake its native coin, ATOM. This is how the network validates its transactions and maintains a high scalability. It has been deemed by some the “internet of blockchains.”

“The internet isn’t every computer directly connected to every computer, [like] not every city has a direct flight to every city,” Billy Rennekamp pointed out on Untold Stories. “You have flights to these hubs, and those hubs direct you: more efficient. The Cosmos Hub is an infrastructure-level blockchain [that] makes transporting these data packets between blockchains simpler.”

Related articles

Recent articles