Cosmos’ founding team broke apart earlier this year but the project didn’t fell apart when they engaged in a scathing feud as we are reading further in our Cosmos news today.
Jae Kwon accused Zaki Manian of blasphemy over whether the software was “godly” and demanded that he renounces his “self-professed godliness.” Kwon did not respond to requests for comment by press time and most tokens are connected to their celebrity creators so how did Cosmos fade into the expansive graveyard of the once very demanding projects? Manian said that it is pointless to continue the corporate structure saying that the dramatic breakup of the Cosmos’ founding team into three companies, could actually benefit Cosmos.
DeFi equivalents on @cosmos
Stablecoins: Kava, Terra
Credit markets: Kava, Anchor (Terra)
Synthetic assets: Kava
— Messari (@MessariCrypto) August 6, 2020
According to the Interchain Foundation, the Swiss foundation that oversees the project’s ICO earnings, Cosmos technologies were used to secure “6 billion worth of assets by July 2020.” The foundation committed about $15 million so far in 2020 on more than 30 grants to software developers such as the team at Tendermint. ICF plans to continue the ongoing grants over the year. There’s no denying that the initial coin offering project is still impacting the people and their assets.
Kwon spearheaded the work of Tendermint on software development and a few other companies such as Chainsafe and Althea. The non-profit created a startup in Berlin and it is now staffed by formed Tendermint technologies that work on the same goals as 2019. The VP of engineering at Intechain GmbH said:
“The whole engineering team working on the consensus algorithm moved over to Interchain GmBH when it started. The transition was very smooth. Interchain Berlin is perhaps the most focused team on the core infrastructure of Cosmos. At the moment, they don’t have any other business interests,” Manian added. “Other teams are working on Cosmos technology but for specific customers who either have launched Cosmos chains or are planning to.”
Looking back, the whole reason why Cosmos exists is that the fans believe they will someday get a robust blockchain ecosystem and people will need the tools that will provide them seamless work opportunities. It might seem counterintuitive for users to demand more bureaucracy but Cosmos supporters believe that formal governance will keep the project going despite the fact of the startup fails. Rinearson explained:
“Because the mission of the Cosmos ecosystem itself is disparate entities being able to engage and collaborate with each other, it’s a good innovation to spend for us.”
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