Evmos narxiEVMOS

The Interchain Foundation is funding the Tharsis Labs team to release an open-source evmOS, the Ethereum-compatible layer 1 solution targeted at boosting interoperability between Ethereum and Cosmos. The funding will see Tharsis Labs open-source evmOS, bringing Cosmos’ ( ATOM ) functionality to users on the Ethereum ( ETH ) network. Interchain Foundation, the entity helping to advance the Cosmos ecosystem and its Inter-Blockchain Communication protocol, announced the development on March 18. With evmOS, developers can build EVM-powered decentralized applications and chains using the Cosmos software development kit. Tharsis Labs will open-source the Ethereum virtual machine-compatible software under the Apache 2.0 license, Interchain Foundation said. In this case, ICF will fork evmOS’ technology and rename it Cosmos EVM, which will allow the Cosmos ecosystem’s steward to continue the project’s development. Cosmos EVM will be part of the Interchain Stack and be built under the Interchain Labs team. “We feel this is the right thing for the community for the longevity of the code we’ve developed, and are excited about the ICF’s support of this. I look forward to contributing to this next phase in a strategic advisory role,” said Federico Kunze Küllmer, co-founder of evmOS and representative of Tharsis Labs. According to the ICF, an open-source provenance will see further integration of the forked tech stack, bringing permissionless innovation to the space. The integration of evmOS as the main EVM solution for Cosmos targets benefits such as cross-chain communication for the scaling of DeFi applications. Despite the funding and forking of the evmOS, the ICF says it remains committed to the projec’s roadmap. As well as Ethereum compatibility, the Interchain Foundation aims to build evmOS into the solution all proof-of-stake networks can tap into for fresh web3 adoption. “evmOS has been a critical piece in bridging the Ethereum and Cosmos ecosystems, and we are excited to support its continued evolution under the Interchain Foundation umbrella,” Josh Cincinnati, president of the ICF’s Foundation Council, said. In July last year, LayerZero Labs partnered with Initia Labs for an interoperability standard for Cosmos. The collaboration aimed to bring omnichain interoperability to Cosmos SDK and LayerZero-enabled chains.

interop/acc just don't accelerate into a wall. there are potentially real and widespread consequences. i get that teams want to be seen as a leader in the space, capture user mindshare and usage, etc... at least those yapping on the teams behalf make it seem that way. interop protocols are unique in the sense that when they fail the ripples can be seen across ecosystems. we've seen evmos drop almost to zero, fantom experiencing pain that is still persisting till today, solana had it lucky because Jump patched the hole. as interop protocols proliferate, chains will start to get more involved as can be seen with ethereum's open intents network and offchain labs push for interoperability of the arbitrum ecosystem. when i say bridges will move more and more into the backend, i'm not throwing shade. it just is inevitable. if we're to achieve seamless interoperable UX, all these need to be pulled back into the backend OS. No more bridging from one chain to another, just transfer from one dapp to another regardless of chain with all the critical bits happening in the back ground. Does that mean all the bridge frontends of today are valueless and disappear?? Absolutely not, imho it will be skewed to cater to institutional clients that have very specific security requirements or needs. It will be modular, it will not depend on a preset infra, the clients can choose what they want and how their white labeled version will work, including its trust assumptions and security setup. the future is interoperable, the future is fast approaching. don't fucking accelerate yourselves into a wall. tq

Investment strategies toward Axelar have strengthened since Canary Capital launched its Canary AXL Trust product. Through this investment product and the native token for Axelar, AXL, institutions can access institutional-quality positions in the digital asset sector. Canary Capital began investing with the Canary AXL Trust, demonstrating blockchain interoperability’s increasing value in the market. The trust’s need for cryptocurrency storage safety and transactional efficiency has led Coinbase to be chosen as its custodial service provider. As a top interoperability solution provider, Axelar enables easy communication between more than 80 blockchain networks. Its technical functionality makes Axelar an essential and fundamental component that delivers Web3 connectivity to the marketplace. Axelar’s technology continues to gain popularity across the entire crypto industry. The platform has formed alliances with XRP Ledger (XRPL) and Sui, as well as Stellar and TON and Bitcoin and Hedera blockchain networks. By uniting more than 80 different networks, the platform has improved its capabilities for facilitating blockchain interoperability. The increasing utilization of Axelar solutions resulted in total value locked (TVL) rising beyond $1 billion during the early part of this year. Companies such as Deutsche Bank, Microsoft, and JP Morgan joined institutional investments to capitalize on this market expansion. Axelar teamed up with Ripple, which brought significant progress to XRPL’s interoperability capability. By partnering with Ripple , Axelar forms a connection between XRPL and its Ethereum Virtual Machine-based sidechain. Ripple with Peersyst delivers evmOS technology for building the XRPL EVM sidechain that supports other blockchain networks through the Cosmos SDK framework. The new integration opens opportunities for XRPL to offer better-decentralized finance services. Axelar and Ripple operate jointly to advance the connectivity features of RLUSD, the stablecoin that Ripple launched recently. The initiative allows RLUSD to operate between different blockchains and expands its use cases beyond XRP Ledger limits. Rising institutional interest in Axelar , along with essential partnerships and product releases, positions the company as the premier blockchain interoperability service provider. Axelar stands ready to become a crucial force as the market grows for cross-chain solutions.