Neutron $NTRN Leads as First Cosmos Hub Chain to Adopt Interchain Security! Bitrue New Staking Pool with up to 15% APY!
Neutron Becomes First Cosmos Hub Consumer Chain to Adopt Interchain Security
Neutron, a permissionless smart contract platform built on CosmWasm, has achieved a significant milestone by becoming the first chain to adopt interchain security (ICS). Developed by the renowned P2P Validator team, known for creating Lido, the largest liquid staking protocol in the crypto space, Neutron has now become a pioneer in leveraging the capabilities of ICS within the Cosmos ecosystem.
What is Interchain Security (ICS)
ICS, or Interchain Security, enables validators on a provider chain, such as the Cosmos Hub, to utilize their staked assets (e.g., ATOM) to participate in the consensus of a consumer chain. In simpler terms, a provider chain secures another blockchain using its validators’ stake, while the consumer chain benefits from the increased security and validator participation.
Before the introduction of ICS, individual appchains had to establish their own security infrastructure, a complex and resource-intensive process. Bootstrapping a validator set for a new blockchain involves significant challenges, primarily due to the need for substantial incentivization. Validators incur substantial costs in running the infrastructure, and traditional blockchain networks often compensate them through block rewards, transaction fees, and other mechanisms.
With the advent of ICS, the deployment of appchains becomes much faster and more streamlined. Appchains can now leverage the existing validator set and the staked ATOM from the Cosmos Hub, eliminating the need to build security infrastructure from scratch. This newfound simplicity and efficiency unlock immense potential for the development and adoption of new appchains within the Cosmos ecosystem.
ICS Open Opportunities for Validators to Earn More
The introduction of ICS also brings new opportunities for validators. Previously, Cosmos Hub validators earned block rewards exclusively in ATOM tokens. However, with the adoption of ICS, validators can now receive rewards not only in ATOM but also in Neutron and other future consumer chain tokens. This broader reward basket incentivizes validators to contribute to the security and consensus of various consumer chains, such as Neutron and any upcoming appchains adopting ICS.
Next Projects Adopting ICS
Looking ahead, several other projects are poised to embrace the benefits of interchain security. Stride, a blockchain network that recently received approval from Cosmos Hub governance, will likely be the second chain to adopt ICS. With the support of both STRD and ATOM stakers, Stride’s application is awaiting voting from the two chains, a crucial step towards implementing ICS. If the proposal receives sufficient votes, the adoption process is expected to be completed by June.
Additionally, Duality, a decentralized exchange focused on user-centric trading, is set to become the third chain to leverage ICS after Neutron and Stride. By embracing interchain security, Duality aims to enhance its security and scalability while benefiting from the robust validator participation offered by the Cosmos Hub.
The adoption of interchain security marks a significant advancement in the Cosmos ecosystem, enabling faster and more secure appchain deployment while strengthening collaboration between different blockchain networks. As more projects embrace ICS, the potential for innovation, interoperability, and overall growth within the Cosmos ecosystem continues to expand, bringing us closer to a truly interconnected and decentralized future.
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