TOWARDS A SUSTAINABLE CRYPTO ECOSYSTEM
If blockchain networks are supposed to be used on a global scale reducing their environmental impact on earth’s climate is a necessity. Although less endangering to the environment compared to PoW, PoS also attributes to climate change. Operating validation infrastructure in data centers and on the cloud leaves a mark on the planet, especially if nodes are situated in regions with a carbon-intensive energy mix. That is why our team at Chorus One decided to turn our validator operations climate positive. We estimated our carbon footprint and will offset our emissions by a margin in collaboration with the Regen Network supporting the Rainforest Foundation in their effort to save the Amazon rainforest.
The Regen Network is building a Cosmos SDK PoS blockchain to host economic agreements around ecological outcomes. By combining scientific methods to determine carbon sequestration and a smart contract system that pays out land stewards for their contributions, Regen aims to provide the platform required to reverse climate change. The Regen Ledger is live in testnet phase including a Chorus One and Chainflow node. If you’re interested, you can learn more about the Regen testnet incentive program here.
COSMOSHUB-3, IBC AND 0% COMMISSION
The biggest topic for the past two weeks in the Cosmos ecosystem has been the discussion around whether 0% fee validators are harmful to the network, initiated by a signaling proposal on the Hub. Meher Roy summarized the dangers of a zero fee validation ecosystem.
Meanwhile development continued; the first IBC specification was released and reviewed, the upgrade process to cosmoshub-3 initiated, and the Cosmos Seoul hackathon concluded successfully, watch the recap here.
KAVA STAKING AMA
Figment’s Staking Hub continues their staking AMAs, this time with Scott and Kevin from Kava. Kava is a Cosmos SDK zone aiming to bring Maker-like CDPs to the Cosmos ecosystem. Kava will accept cross-chain collateral at launch (such as BNB, ATOM, as well as XRP and BTC (via a peg)). The Kava token is used for staking on the blockchain, serves as the lender of last resort and governance token (analogous to MKR in Maker). In Kava, validators will need to participate in governance decisions, e.g. deciding on which assets to accept as collateral, their overcollateralization ratios, as well as stability fees.
There is a lot of uncertainty surrounding regulation of Proof-of-Stake assets. That’s why multiple blockchain projects are coming together to educate US lawmakers about PoS consensus algorithms with an initial focus on the taxation of staking rewards. Members of the association include the Interchain Foundation (Cosmos), Polychain Labs, TQ Tezos, Enigma and more.
Development on Tezos is continuing, a second upgrade titled Babylon has been injected that will now be voted on by the community of validators. The upgrade introduces improvements to the consensus algorithm, new smart contracting features, and a rehaul of the accounting system, which will allow for programmable staking (h/t Cryptium); enabling bakers to implement different policies based on smart contract logic. Additionally, news broke that XTZ will be listed on Coinbase Pro.
The Solana team completed their raise of $20mn led by Multicoin Capital to build the first web-scale blockchain. Solana’s design allows the blockchain to scale to about 50k tps without the need for sharding (check out their #nosharding podcast to learn more about the technology and the upcoming incentivized testnet “Tour de SOL”). Solana also surprised many by, in the words of investor Kyle Samani, “ship(ing) Libra’s Move VM, a year before Facebook ships Libra.”
HARMONY NODE RAFFLE
Harmony announced a raffle to expand the set of Harmony foundational nodes. There is a still unspecified minimum buy-in required to participate in the raffle.
Staking Economy is written by Felix Lutsch from Chorus One with assistance from Chris Remus, operator of the Chainflow validators. Opinions expressed are our own and do not necessarily reflect the opinions of Chorus One. All content is for informational purposes only and not intended as investment advice.