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- Kava, where Ethereum meets Cosmos, has added EVM smart contract support with the Ethereum Co-Chain alpha.
- The best of both the ecosystems on Kava just makes sense for their goal of adding 100 protocols in 2022, says Scott Stuart, CEO of Kava Labs.
- Kava’s architecture allows Ethereum and Cosmos developers to build on a single chain and attract the users and assets of both ecosystems.
Kava, the Layer 1 blockchain platform, has recently added Ethereum Virtual Machine (EVM) smart contract support. And this was followed by the launch of its Ethereum Co-Chain.
This launch facilitates the developers and decentralized apps (DApps) from the Ethereum ecosystem to build and deploy on Kava.
Kava is a Layer 1 blockchain that is built on Cosmos SDK, which is a framework for building application-specific blockchains. Kava is a project focusing on combining Ethereum and Cosmos chains into a single, scalable network. And this facilitates the developers to build and deploy applications on a single chain, accessible for the users and assets of both Ethereum and Cosmos.
The successful Kava 9 upgrade that went live in January this year initiated the ecosystem’s rapid growth in 2022, which planned on various modifications, including this recent EVM support launch.
According to the announcement, as part of the Kava Pioneer program, over 15 protocols will be deployed to the closed co-chain testnet. These protocols would include yield farming protocol Beefy Finance, yield aggregator AutoFarm, liquidity protocol RenVM, etc. The focus of these projects is to test the interoperability between Kava’s Ethereum and Cosmos Co-Chain.
According to Scott Stuart, CEO of Kava Labs, Ethereum is still where most of the developers and protocols are; Cosmos is rapidly growing and emerging and offers comparatively enhanced scalability and interoperability.
He further added that bringing the best of both Ethereum and Cosmos ecosystems together on Kava just makes sense for their goal to bring together 100 protocols this year. This signified the ecosystem’s plans to boost its growth rapidly.
Kava’s co-chain design enables the convergence of Ethereum’s developer strength with the speed and interoperability of Cosmos in a single network.
The Kava Rise, a $750 million incentive program, was launched earlier in the month after community votes. It would distribute 62.5% of the block rewards to the developers building on the Kava Ethereum and Cosmos Co Chain, which aims at supporting the emerging growth of Non-Fungible Tokens (NFTs) and Decentralised Finance (DeFi).
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
