Okay, so like already mentioned in this thread (-→ GIP: GTON Improvement Proposal 2.4 - #5 by ForumUser)… I would much, much, much, much more prefer a layer 1 blockchain.
Being a layer 2 solution?
That’s not a REAL blockchain.
Just AN APPENDAGE of Ethereum… Ugh, disgusting!
No, no, that’s by far not ambitious enough.
COMMON GUYS, don’t you realize how much this project has to offer? Being a layer 2 solution would be, like being a math genius - capable of revolutionizing the whole field of mathematics - but working in highschool instead.
What I would like, is the ambition of becoming the next Cardano, Solana, Fantom, and so on…
These blockchains don’t have many of the cool features, we have automatically as a DeFi 2.0 project, but they are top-ranked, because they are intrinsically valuable.
So… We should strive to be like that…
Ideally, built from scratch…
However, if you don’t want to build it completely from scratch, let’s take a look at some other options…
You, yourself mentioned some of them… Like…
“In order to determine the details of the technology that this network will be built upon, it will be necessary to conduct extensive research and analyze all the strategic pros and cons. Most likely, GCNet will be an EVM-compatible implementation of a fast reliable blockchain (EVM-Substrate, EVM-Near or EVM-Solana).”
“we’re choosing base technology for the chain which supports #EVM options we’re exploring now:
@neonlabsorg which is @solana + EVM
@MoonbeamNetwork which is @Polkadot ‘s substrate
“We’re exploring several options as a core tech for 𝔾ℂNet and Polka’s Substrate with EVM is one of the most promising candidates. P.S.: deploying 𝔾ℂ smart contracts on the MoonBeam network will be anyway as a first step towards to the integration with Polka.”
I am wondering…
Why is “building on Cosmos” not mentioned as a possible option. I am just investing, I am not developing, but it seems to be the case, that Cosmos is a pretty great platform for the development of a new smart contract platform. If I take a quick look at “CoinmarketCap” or “Coingecko”, I will find, that many of the leading projects are building on it, like…
That means, especially according to “Coingecko”, that 6 out of the 100 top projects are building on Cosmos. And that’s just the beginning.
Take a look at this website… https://mapofzones.com/? testnet=false&period=24&tableOrderBy=totalIbcTxs&tableOrderSort=desc
However, something, what seems to be especially important for our own upcoming blockchain is EVM-support, because that is mentioned all the time. Alex, tweeted about this… “#EVM and @solidity_lang is like #JS now. It has network effect for developers. Why chains are trying to invent something new here instead of integrating/optimizing EVM and let us use it. Solana, Cardano, Near, Ada, Ergo - keep your solid tech for consensus/core, not for devs/apps”
That’s why I was wondering what the status of EVM-support is, when building on Cosmos. And here I am positively surprised that we seem to have come at exactly the right time. We would still be one of the first, who would build an EVM-compatible blockchain in the Cosmos ecosystem. Till now, only very few took this opportunity - just Cronos and Evmos, if I understandthat correctly - because the technology behind that is very new… So, that’s a big chance for us!
So, Cronos could actually be a very good example for the development of our own blockchain… Here is why…
“Live since November 2021, Cronos is a EVM-compatible chain designed to support the Creator Economy with applications such as DeFi and GameFi, ultimately serving as foundational infrastructure for the Metaverse. Cronos delivers dramatically faster and cheaper transactions than Ethereum mainnet, making decentralized applications (DApps) and smart contracts more user and environment friendly. Built on Ethermint which is based on the Cosmos SDK, Cronos supports the rapid porting of DApps and smart contracts from Ethereum and other EVM-compatible chains, as well as interoperability with the Cosmos ecosystem via IBC (Inter Blockchain Communication).” (–) https://thecronicle.com/news/cronos-news/cro-is-now-cronos/)
“One of the companies’ priorities when launching Cronos was making sure that porting apps and smart contracts from EVM-compatible blockchains and the Ethereum platform was as easy of a process as possible. This is why Ethermint was chosen to power Cronos. Ethermint is a scalable and interoperable Ethereum, built on Proof-of-Stake (PoS) with fast-finality using the Cosmos SDK. The Crypto.org Chain programmers have been collaborating with Ethermint’s Tharsis team, sharing their input and even contributing to the original code. Interaction between blockchains is achieved through the use of Inter-blockchain Communication Protocol (IBC). The interoperability and bridging to the Crypto.org Chain are managed by the IBC, which also allows the ability to exchange and use information with all other IBC-enabled chains.” (–) Cronos, Crypto.org EVM Chain, Testnet Launches Today | CoinCodex)
The other example is, as already mentioned, Evmos…
"Evmos is designed to be a highly scalable EVM compatible environment built on the Cosmos SDK and Tendermint Consensus. The Evmos stack offers:
Tendermint - A fast finality and high throughput consensus mechanism widely used within the Cosmos ecosystem and beyond. This
will allow transactions on Evmos to be fully executed in seconds.
Cosmos SDK - A modular, composable, and interoperable framework that will allow Evmos to scale and interoperate with other blockchains via IBC while maintaining chain sovereignty.
EVM Module - Built to be fully EVM compatible, or EVM equivalent, allowing developers to take full advantage of an Ethereum environment, while offering low-gas costs and fast finality to users of their applications."
“Evmos will launch as a single “hub chain” for EVM compatibility in the Cosmos ecosystem. The ultimate vision of Evmos consists of multiple, interoperable, and composable EVM compatible chains that can be individually optimized for specific use cases like DeFi, NFTs, or gaming. These chains can be application-specific, which will limit the need for having to compete for throughput with other applications. Thanks to IBC and Evmos’ ERC20 Token Module, Evmos will be interoperable with any other IBC enabled non-EVM compatible Cosmos chain as well as Ethereum, which will allow for the transfer of Cosmos and Ethereum between Evmos.” (–) Evmos: EVM Compatibility in the Cosmos Ecosystem)
In addition to that a bridge between Ethereum and Cosmos will soon be released…
“Gravity Bridge chain will act as neutral ethereum to cosmos bridge. Through IBC(Interblockchain communication), many different cosmos based projects can connect and use the bridge to access ERC20 assets, like dai or usdc, without having to operate the gravity orchestrator on their own chain. Gravity will be able to bring ERC20 assets from Ethereum into Cosmos, as well as Cosmos assets to Ethereum ERC20 representations. ATOM, and any other asset in the Cosmos ecosystem, will be able to trade on Uniswap and other Ethereum AMMs, and interact with Ethereum DeFi like any ERC20 token.” (–) https://www.gravitybridge.net/)
So the advantages are basically this…
you can build on Ethermint, which supports rapid porting of apps and smart contracts from Ethereum and other EVM-compatible chains.
the Inter Blockchain Communications (IBC) protocol enables interoperability and bridging to IBC-enabled chains; so your users can use for example a dapp like Osmosis (Osmosis)
therfore, you are basically in a club with some of the biggest projects on the market
and you are still a L1 and have your own thing going on
But, why is Cosmos for example better suited than Polkadot, which you already considered? Well, if it is true, what these guys from Exodus say in that video (YouTube? v=nH5zNPEYIAQ), Polkadot has multiple disadvantages…
Polkadot is less secure; if the overarching structure is down, everything else wouldn’t work too
Polkadot can’t scale; it has a limited number of slots;
“Based on theoretical computing constraints, the current goal and expectation is that there will be approximately 100 parachain slots available on Polkadot, though potential future optimizations (such as nested relay chains) may further increase this number. However, it will take some time before Polkadot fully supports 100 parachain slots, and they are likely to be added to the system slowly over time.”
(–> Parachain Slot Auctions | Polkadot)
- Polkadot would mean, that you can’t be sure, if you get a slot… And even, if you get a slot, it is just leased - you don’t really own it.
Especially the last point is very strange to me…
“If a team lost a slot auction… They will need to join a subsequent auction and bid again. Once parathread functionality is delivered (expected some months after parachains launch), parachain teams will have the option of connecting to Polkadot as a parathread while they attempt to secure a dedicated slot.”
“Slot Expiration… When a parachain wins an auction, the tokens that it bids get reserved until the lease’s end. Reserved balances are non-transferrable and cannot be used for staking. At the end of the lease, the tokens are unreserved. Parachains that have not secured a new lease to extend their slot will automatically become parathreads.”
(–> Parachain Slot Auctions | Polkadot)
So… If you did not already, it would be great, if you could make some deep research about development on Cosmos.
Additional ressources are… https://cronos.org/ https://thefipharmacist.com/crypto-com-vs-crypto-org-vs-cronos/ https://www.reddit.com/r/Crypto_com/comments/rqnwxs/cryptoorg_chain_vs_cronos/ https://www.reddit.com/r/Crypto_com/comments/ply6dh/cronos_and_cryptoorg_differences/ Diving into Cronos Evmos Documentation | Evmos Documentation How to deploy on Evmos: The first EVM chain on Cosmos Evmos: First Look +EVmos? - Riley's Substack High-level Overview | Ethermint Documentation Understanding Ethermint | HackerNoon An Introduction To Ethermint Demystifying Ethermint. What is Ethermint? | by Lerna | Cosmos Blog