The Top Upcoming Projects On Cosmos

Introduction

Cosmos has recently introduced Interchain Security, a feature set to enhance the ATOM token's value and strengthen the ecosystem. With the V9 Lambda upgrade's green light, the Cosmos Hub is now equipped to offer its robust security to new chains. These chains can initiate their economies and reward ATOM validators and delegators with fees. This innovation is crucial as it simplifies the process for launching secure decentralized chains and paves the way for a sustainable Cosmos Hub economic model.

The essence of Interchain Security lies in its 'shared security' protocols. The primary one is replicated security, which mirrors the validator set from the provider chain onto the consumer chain. This allows the consumer chain to benefit from the Cosmos Hub's comprehensive security. This model is adaptable, ensuring the Cosmos Hub's security remains intact while promoting innovation. A case in point is the Cosmos Hub's provision of replicated security to consumer chains following Neutron's launch of its permissionless CosmWasm execution layer and DeFi hub.

However, there's a cap on the number of chains the Cosmos Hub can support using replicated security. To overcome this, they're delving into other security models like Layered Security and Mesh Security. Several consumer chains, including Neutron and Stride, are gearing up to launch with replicated security soon. Neutron has already taken the leap, and Stride, which had an earlier launch, plans to upgrade its chain to integrate with the Cosmos Hub validator set.

Cosmos, with its recent introduction of Interchain Security, has set the stage for a new era. This innovative feature not only amplifies the value of the ATOM token but also fortifies the entire Cosmos ecosystem. Because of this, we'll be diving deep into seven upcoming projects on Cosmos.

Sei Network

Sei is a Layer-1 blockchain designed exclusively for DeFi. It is built on the Cosmos SDK and includes an order book as the base layer of the blockchain and Tendermint Core as its consensus mechanism. Unlike automated market makers, which form the basis of the current DeFi applications, Sei uses on-chain order books to match buy orders and sell orders at given prices. This enables the development of DeFi applications that can use Sei’s built-in central limit order book (CLOB) to access its deep liquidity.

Sei can optimize its performance and speed as the order book is kept on-chain. Moreover, Sei is built on the Cosmos SDK, which should result in more stability since each blockchain operates independently. Sei has a front-running prevention mechanism, which is built directly into the network. This feature helps to ensure that all transactions on the network are conducted fairly and transparently, preventing malicious frontrunning.In addition to its frontrunning prevention mechanism, Sei Network also supports order batching. This feature simplifies the process of updating multiple orders across different exchanges.

The Sei Network Mainnet is set to go live on August 15th. Coinciding with the mainnet's debut, the SEI token will be introduced on Binance and other centralized exchanges. Furthermore, the Sei Foundation has launched the SEI Airdrop and Incentivized Testnet Rewards as part of its mainnet strategy. This initiative showcases the foundation's commitment to fostering community ties from the outset, laying the groundwork for blockchain's future.

Akash Network

Akash Network isn't new or upcoming but it is one of the best projects on Cosmos. Akash Network is a decentralized cloud computing platform built using the Cosmos SDK. It is an open network that allows users to buy and sell computing resources securely and efficiently. The network uses a "reverse auction" system, where customers submit their desired price and providers compete for the business, resulting in prices up to 85% lower than other cloud systems. Akash is the world's first decentralized and open-source cloud, and it aims to accelerate deployment, scale, efficiency, and price performance for high-growth industries like blockchain and machine learning.

Akash Network and its native token, AKT, is used to secure the network by staking. AKT is also used as the primary means to govern the network, incentivize participants, and provide a default mechanism to store and exchange value. AKT holders can vote on proposals to improve the network and manage critical parameters such as inflation rate and take rates.In a new announcement, Akash Network says it has rolled out the testnet of its Stable Payments feature, which will allow traders to settle payments using Circle’s stablecoin, USDC.

Celestia

Celestia on Cosmos is a modular consensus and data network that enables anyone to easily deploy their own blockchain with minimal overhead. Celestia is built on the Cosmos SDK and uses Tendermint as its consensus mechanism. Celestia is secured by a consensus algorithm, and its unique architecture allows developers to focus on their application's core logic, while Celestia handles consensus and data availability layers. Celestia's unique feature is Data Availability Sampling, which allows Celestia to safely increase its block size as more light nodes join the network.

Celestia recently celebrated the end of the Blockspace Race, their largest incentivized testnet program with over a thousand participants. Initiated in March 2023, this program witnessed over 700 active sampling light nodes, marking significant advancements in data availability sampling. The Blockspace Race, inspired by the original space race, aimed to achieve a shared goal of providing abundant blockspace. Celestia is now gearing up for its Mainnet launch, anticipated later this year.

Archway

Archway on Cosmos is a smart contract platform that allows developers to deploy dApps and get rewarded for the value they contribute to the network. Archway is built on the Cosmos SDK and uses Tendermint as its consensus mechanism. Archway is a peer-to-peer and open market to trade compute resources, purpose-built for public utility.

Archway's unique feature is its value capture engine, which rewards developers for building dApps that drive on-chain activity. Archway's native token is ARCH, which is distributed to dApps in proportion to the number of users they bring to the network. Archway has launched its mainnet and is now live on the Cosmos ecosystem. Archway has also introduced two new modules to the Cosmos SDK, which distribute a portion of gas fees and inflation, as well as a smart contract premium, to developers

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SoarChain

Soarchain is a Layer 1 blockchain built on Cosmos SDK that provides a decentralized, token-incentivized data and connectivity infrastructure for mobility. It is a sovereign app chain that aims to establish a decentralized ecosystem where participants, including vehicles, data providers, and developers, can interact and exchange value securely. Soarchain enables a range of decentralized applications specific to mobility, creating a dynamic dApp ecosystem on cars that brings about a new era of efficient, cost-effective, and eco-friendly transportation.

Soarchain operates through a decentralized data ecosystem for mobility, incentivizing users to participate through a cryptographic proof of availability mechanism. Soarchain underpins a suite of services, including their native token, $MTS, and a cutting-edge, production-ready, plug-and-play connectivity hardware device known as MOTUS.

One of the recent key developments is the incentivized testnet event called Transit Tesseract, which allows Soarchain to put its technology through rigorous testing to ensure that it is robust, secure, and capable of delivering on its promises. This testnet is a significant milestone as it allows Soarchain to refine its tokenomic model, ensuring that it is robust, resilient, and adaptable to changing market conditions and network dynamics.

Neutron

Neutron is a permissionless smart-contract platform developed with Tendermint and the Cosmos SDK, designed for interchain smart contract deployment and features native support for CosmWasm, Replicated Security , and the Inter-Blockchain Communication (IBC) protocol. It is a blockchain network that brings Smart Contracts into the Cosmos-family blockchains using CosmWasm. Neutron security (block validation) is provided by the Cosmos Hub network using Interchain Security.

Neutron aims to provide cross-chain, smart contract applications for the Cosmos network of more than 50 interconnected, app-specific blockchains or appchains by closely aligning with the Cosmos Hub and leveraging its high security. Neutron solves the dilemma of developers looking to enter the Cosmos ecosystem by providing smart-contract developers with a secure platform and streamlined access to technologies that let them pass assets and messages, execute and track queries and transactions on remote chains.

Stride

Stride is a minimalist blockchain project built on the Cosmos ecosystem that provides liquidity for staked tokens. Stride allows users to stake tokens from any Cosmos chain in exchange for stTokens, which can earn an auto-compounding staking yield and additional yield through actions like lending and providing liquidity. Stride is secured by the Cosmos Hub's Interchain Security system powered by ATOM tokens, which provides a significant boost to the liquid staking protocol's security. Stride's native token is STRD, which is used for staking and governance purposes.

Stride was recently included in the transition to the Cosmos Hub's Interchain Security system, which provides a 100x security boost to the liquid staking protocol. Stride's transition to ICS means that it is now secured by staked ATOM instead of STRD tokens, and Cosmos' validator set will take over block production from the existing Stride validator set. Stride has also achieved a significant enrollment growth over the first quarter.

Final Thoughts

The Cosmos ecosystem, with its Interchain Security, is at the forefront of blockchain technology. The introduction of this feature has not only fortified the security of the Cosmos Hub but has also opened up a realm of possibilities for emerging chains. By offering its robust security to these consumer chains, Cosmos is setting a precedent for a more integrated and secure future in the decentralized world.

The projects highlighted in this article are all testaments to the versatility and innovation that the Cosmos Ecosystem offers. As we witness the rapid growth and development of these projects, it's evident that the Cosmos ecosystem is not just about creating individual blockchains but about building an integrated network where each chain, while maintaining its uniqueness, contributes to the collective strength and vision of the ecosystem.

The future of blockchain is promising, and the Cosmos ecosystem, with its pioneering projects and features like Interchain Security, are poised to lead the way.