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According to an announcement made by the Interchain Foundation (ICF) on February 20 in a Medium post, the non-profit organization responsible for the creation of the interblockchain communication (IBC) ecosystem Cosmos (ATOM) has committed to spending around $40 million by 2023 to develop infrastructure and applications. the main thing is. About fifty different blockchains, such as Tendermint Core (which has since been renamed CometBFT), Cosmos SDK, Cosmos Hub, and the IBC protocol, all use the Interchain Stack.
“Throughout the year, we plan to engage additional teams to offer more manageable tasks that are more specifically defined within each work area. These contracts will be used to augment the work of the teams listed below or to fulfill the requirements of those teams. as they grow throughout the year.
CosmWasm and Ethermint are two technologies that, according to the company, have become “the foundation of smart contracts and Ethereum Virtual Machines (EVM) blockchain compatible.” The Internet Commerce Foundation (ICF) is helping fund the development of these two technologies.
The International Community Foundation (ICF) will provide funding for initiatives that, in addition to the fundamental infrastructure, drive the adoption and use case for Cosmos. This includes integration with other blockchain technologies such as Polkadot and Hyper Ledger, as well as initiatives such as the Interchain Developer Academy, the Cosmos Developer Portal, and the Interchain Creators Program. Other similar programs include the Cosmos Developer Portal.
A “major application backlog” led to the suspension of the ICF’s public Small Grants Program in 2018, but the organization has said it has intentions to resume program operations in 2023.
It intends to restart the program in due course and invites the team to seek the Builder Program for guidance and assistance in areas not related to finance. For now, ICF advises software developers to use the ATOM delegate program to gain access to contribution benefits.
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