Cosmos Cantina

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This edition of Cantina is brought to you by the Jackal Protocol - actually decentralized data storage built right here in the Comsos Interchain! Jackal hopes to decentralize the storage industry with better security and privacy for your files.

GM. Welcome to the second week of the Cosmos Cantina.

Here is what we are serving up from last week in the Cosmos ecosystem.

• Sunny says proof of stake was a mistake 😧

• Cosmos down bad 🔻

• DYDX Public Testnet is Live 🧪

• Akash hosting Google BERT AI 🤖

• Duality sets the bar high for consumer chains on the Cosmos Hub ✅

• Polkadot enters the interchain with IBC 🔴

• Empower L1 Blockchain Launches ♻️

• Archway L1 Blockchain Launches 🟠

Sunny says proof of stake was a mistake 😧

In today’s episode of big brains arguing about things, we don’t understand…

Before we get started, buckle up, because we're about to break down four ways blockchains keep things secure, accurate, and trusted.

• Proof of Work (PoW) is like a frenzied gold rush. It's every miner for themselves, solving complex mathematical puzzles to win the privilege of adding the next block to the blockchain. The fastest miner wins, but it's an energy-guzzling process. Think of it as a brainy treadmill that's always running.

• Proof of Stake (PoS), on the other hand, is more like a high-stakes lottery. The more crypto tokens you hold (your 'stake'), the higher your chances of being picked to validate the next block. It's more eco-friendly, but the rich tend to get richer. It's a bit like holding the winning raffle ticket at a fancy gala.

• Proof of Authority (PoA) is the equivalent of a high school clique. A select group of validators (think popular kids) are trusted to validate transactions based on their reputation. It's faster and more scalable, but there's a risk of centralization. Essentially, it's the blockchain version of 'trust me, I'm popular'.

• Lastly, there's the Web of Trust (WoT), which is less of a technical protocol and more of a social contract. Here, trust is built based on direct experiences and peer recommendations. Think of it as getting vetted by your potential date's best friends – it's all about reputation.

Each system has its own trade-offs between security, speed, decentralization, and energy efficiency. It's about picking the right tool for the cosmic job.

… Now back to our scheduled programming

Sunny, the mastermind behind Cosmos' decentralized exchange blockchain, Osmosis, has caused a ripple in the space-time continuum, declaring that Proof of Stake (PoS) might as well be a fossil. He's got beef with staking derivatives turning everything into "Proof of Authority" networks, complete with their own handpicked validators.

Aidan from Stride is riding shotgun on this theory, predicting that Liquid Staking Derivative Delegations will eventually morph into validator self-bonds, a sentiment that Sunny echoes.

When Brian from Chorus One probes Sunny for a better alternative, Sunny lays it down:

• Proof of Authority gets his vote in the short term, where governance calls the shots in picking new validators.

• As for the long game? He's rooting for a shift toward Web of Trust.

But Viktor Bunin from Coinbase Cloud isn't having it, arguing that both Proof of Authority and Web of Trust are more problem-ridden than a second-hand spaceship. Unfazed, Sunny maintains that Web of Trust is as clean as a hound's tooth, just lacking in the BFT-style fast finality department.

Cosmos down bad 🔻

Ouch.

Cosmos tokens have taken a spacewalk without a tether from their all-time highs, but are we seeing the birth of a new bull market among the stars?

$INJ is floating in the red with a -70.5% drop, while $ATOM has seen a steeper descent at -79.3%. $KUJI has dived deeper into the negative territory with -83.2%, closely followed by $KAVA at -88.9%. And $OSMO? It's on a downward trajectory with -95.6%.

The gravitational pull gets stronger as we hit $LUNA at -96.5%, $SCRT at -96.7%, and $KDA at -97.7%. But it's $EVMOS and $JUNO who are floating farthest from their ATHs, with falls of -98.6% and a staggering -99.4% respectively.

Cheers to NumiaData for the sobering data dive.

Now, before you start calling for an intergalactic rescue mission, let's flip the script. $INJ has made a year-to-date (YTD) leap of 627%. $ATOM is glowing with a 20% YTD rise, and Kuji? Well, it's rocketed a mind-blowing 18627% YTD from the Terra crash bottom.

But like a comet with a fizzled-out tail, Juno, SCRT, and EVMOS are still finding it tough to heat up. Let's see if they can reignite their engines as we journey forward into the cosmos.

DYDX Public Testnet is Live 🧪

Peanut butter and jelly, salt and pepper, bread and butter, crypto and leverage.

Hold on to your space helmets, ladies and gentlemen, because DYDX, the star of the degen universe, is blazing a trail to Cosmos! And guess what? Their public testnet is already firing up its engines!

Feel like playing spaceman roulette? Now you can, with up to 20x leverage on your trades within the Cosmos ecosystem. Remember, though, this isn't just fun and interstellar games – you could either strike it rich like a cosmic prospector or lose everything really fast.

As for the realm of derivatives, it's a clash of the titans. GMX and DyDx are duking it out for supremacy in a no-holds-barred volume battle.

Cosmos is certainly in for a wild ride, with a major player like DYDX constructing a blockchain dedicated to its applications. Buckle up, folks – we're all in for some high-stakes intergalactic drama!

Akash hosting Google BERT AI 🤖

Here is a live look at crypto savvy AI devs.

Beam us up, Akash! The Cosmos-based network is breaking new frontiers by bringing cloud computing from the likes of Nvidia GPUs to the masses. They're not stopping there either – they're deploying heavyweight AI like Google's BERT.

Think about this. Akash is like a cosmic cruise liner, offering a blend of compute and web3 that stands out like a supernova in the endless galaxy of networks. Here's how:

Firstly, Akash's decentralized cloud hosting offers a smorgasbord of resources, making it a sort of Airbnb for your processing power. You've got spare GPU capacity? List it on Akash! Need extra oomph for your data crunching? Rent it on Akash! It's a win-win for everyone in the web3 universe.

Secondly, by integrating with web3, Akash ensures your data isn't just floating in the void. Instead, it's securely anchored to blockchain technology.

And finally, their deployment of AI like Google's BERT? That's like having a personal R2-D2 on hand to help you navigate the complexities of the universe.

So, whether you're a crypto-enthusiast, an AI developer, or just someone who needs more GPU power, Akash is your one-stop-shop for all your compute and web3 needs.

Duality sets the bar high for consumer chains on the Cosmos Hub ✅

The Duality consumer chain DEX isn't just shooting for the moon; it's setting a new gold standard for consumer chains in the Cosmos Hub. Let's take a spacewalk through the highlights:

• First off, it's raining riches – 100% of MEV and transaction fees are going directly into the wallets of ATOM stakers.

• ATOM is the gas token. Bringing more utility to ATOM.

• What's more? 100% of gas fees are zapping straight to the Cosmos Hub validators. Similarly, liquidity providers are getting a full share of swap fees. It's like a black hole of wealth… but in reverse.

• Up next, we have the Replicated Market Maker. This protocol can whip up any AMM invariant using continuous liquidity. It's the Yoda of financial manipulation.

• Advanced orders for those space-savvy traders and dynamic routing to sidestep those pesky front-runners.

In short, Duality isn't just hitching a ride to the stars – it's blasting new paths in the Cosmos universe. Upcoming consumer chains, set your coordinates: this is the way to make supernovas in the Cosmos ecosystem!

Polkadot enters the interchain with IBC 🔴

Buckle up, crypto aficionados, because we've got an unexpected twist in the tale! Composable Finance and Strange Love Labs have teamed up to construct the "Centauri" bridge, an engineering marvel that links Polkadot's Substrate chains to the Cosmos IBC standard for interoperability.

Picture this: it's the equivalent of two rival sports teams suddenly playing on the same turf. The Cosmos IBC and Polkadot have traditionally been the Pepsi and Coke of the blockchain world, constantly vying for the crown. But it seems like Cosmos's Inter Blockchain Communication Protocol (IBC) may have just scored a touchdown.

Cosmos enthusiasts have been popping the champagne on Twitter, heralding the ubiquity of IBC. Meanwhile, over at the Polkadot camp, it's been more hushed tones and muffled cheers, as the Centauri bridge somewhat overshadows their hub and spoke model.

Cosmos Cantina TAM 📈📈📈📈📈📈

EmpowerChain brings the circular economy to Cosmos ♻️

Cosmonauts, strap in! EmpowerChain, a tailor-made Layer 1 chain, has touched down in the Cosmos ecosystem. This network is championing the Circular Economy, giving superpowers to a global crew of waste collectors and recyclers.

But what exactly is EmpowerChain? Let's dig into the trash.

Think of EmpowerChain as the blockchain equivalent of a global cleanup operation. It's a trustless, lock-in-free platform where folks from all over the waste management ecosystem can collaborate on sustainable solutions for our trash troubles.

Imagine being able to track every last bit of waste with a blockchain's immutable ledger and a sprinkle of cryptography. That's EmpowerChain's 'Proof of existence.' They're even whipping up 'Plastic Credits' as incentives for efficient collection and processing of waste. And let's not forget the bespoke deposit systems for organizations or individuals keen on recycling.

In short, EmpowerChain isn't just a shiny new arrival in the Cosmos ecosystem. It's a vision of a more sustainable future, a world where waste doesn't just disappear but becomes part of a circular journey. That's not just empowering; it's revolutionary. So, grab your helmets and get ready for a cleaner Cosmos!

Archway L1 Blockchain Launches 🟠

Grab your interstellar popcorn. The Archway blockchain just made a blockbuster entry into the Cosmos Ecosystem. Archway is no ordinary L1 blockchain; it’s like a digital Willy Wonka, cranking out the goodies for developers to capture the value their dapps create and nurture sustainable economic models.

Sounds like science fiction? Well, beam me up, Scotty, because Archway’s proprietary gas module is turning this fiction into a blockchain reality. Picture this: Every time someone uses a developer's smart contract, cha-ching! The developer gets paid. It’s like getting a royalty check every time your song plays on the radio, except here, the song is your smart contract, and the radio is the Archway blockchain.

Developers not only get a sweet cut of the network's inflation but also get to pocket half of the gas fees their contract churns out. It's like having a cosmic cash cow that keeps on giving.

We will keep you updated on how this economic experiment plays out.

Thats all for this week, now we rollin’ into next week.

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DISCLAIMER: None of this is financial advice.

This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.