Tendermint to Launch Cosmos

Work on the project, designed to ensure compatibility of different blockchains has been carried out over the past three years
15 March 2019   171

Team of Tendermint Inc. officially announced the launch of Cosmos Hub, the first of the Proof-of-Stake blockchain series, which will become part of the Cosmos ecosystem in the future. Work on the project, designed to ensure compatibility of different blockchains - primarily Ethereum and Bitcoin, has been carried out over the past three years.

Representatives of Tendermint note that at the moment, users cannot exchange tokens between blockchains or otherwise connect Cosmos Hub to third-party blockchains at any time - for this, validators must vote to activate Inter-Blockchain Communication (IBC).

In the comments of CoinDesk, Tendermint Director Zaki Manian noted that the software development kit (SDK) presented in February 2018 is already used in the cryptocurrency industry, in particular, by the Binance exchange.

He also said that another important element that will help "at a fundamental level to remove obstacles to innovation" is the underlying Tendermint Core consensus mechanism, Cosmos Hub.

We want to take the blockchain development cycle from idea to implementation down from years to months. This is how we’re trying to transform the blockchain space. Out of all these building blocks, [you’ll be able to compose] an entire … open system of finance that operates to scale and can be composed of individual, specialized chains that do different things.

Zaki Manian

Director, Tendermint

Transactions with Cosmos ATOM own tokens are not yet available to users. These tokens will serve as a kind of collateral for validators, and they are currently used as a mechanism for choosing Cosmos Network membership.

As soon as the system itself and the set of validators are recognized as fairly stable, tokens holders will be able to vote for the start date of the ATOM transfers. After that, another vote will be held regarding the connection of new blockchains to Cosmos Hub and the launch of swaps between raptocurrencies and non-interchangeable tokens.

Security of Cosmos Hub is currently provided by about 70 validators. Also at this stage, all rewards are paid in ATOM, but in the future other cryptocurrencies can be used for this, in particular, Bitcoin or Ethereum

BMW, Intel to Join Forces With Singapore DLT Accelerator

Tribe Accelerator was launched in December 2018 and is supported by Singapore authorities
25 March 2019   48

A Singapore-sponsored blockchain accelerator Tribe has partnered with BMW Group Asia, Intel and Nielsen. It is reported by CoinDesk.

In the framework of cooperation, companies will share their experience with startups developing solutions in the field of DLT technologies.

Thus, the BMW Group Asia will hold a series of master classes on the use of the blockchain under conditions of widespread demand. Intel Corporation will advise start-ups in business and technology development, and Nielsen will provide a sandbox for testing new solutions.

The Tribe Accelerator was launched in December 2018 in collaboration with the South Korean ICON Foundation and the Singapore venture capital firm PwC. Among the projects implemented by the company is the blockchain solutions implementation in cooperation with ConsenSys.

In early March, the Argentine government announced plans to invest in blockchain startups in the early stages of development, which received support from the venture capital unit of Binance.